Even when the market sells off sharply, CNBC’s Fast Money traders always look at what’s working.
And despite the headwinds a slew of stocks were trading higher; They included, Akamai, RIM , AMR , Halliburton, and Shanda.
Which of these names belong on your radar?
OptionMonster Jon Najarian has Akamai on the radar. He’s seeing “a big accumulation of calls at the 40 strike” which he takes as a signal the stock could go higher.
Brian Kelly suggests putting RIM on the radar aftera favorable piece in Barron’s said, “Ever since the first iPhone launched in the summer of 2007, to immediate raves, RIM has been seen by investors to be in trouble. That simply isn't true."
Zach Karabell is very bullish on China and likes Shanda. “Gaming companies are doing extremely well,” he says.
EARNINGS SEASON: CITI
Again bank earnings landed in the spotlight with Citi beating analysts estimates although profit fell 32 percent as bond trading revenue plunged and operating expenses jumped.
What’s the trade?
Stephen Weiss thinks the Street views Citi's results "as a big sigh of relief." Although he's not in the name he thinks the reverse split and the potential of a reinstated dividend could generate buying among big insituational investors, where Citi stock is currently under-owned.
MONEY IN MOTION CURRENCY TRADING
Some consider it a fight to the bottom – we’re talking the dollar and the euro . While Europe deals with a downgrade of Irish banks and surging Greek yields, US deficit issues led the S&P to downgrade the outlook for the United States to negative.