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Guy Adami: Google Pushing Down to $500

The Street was keeping its eye on Google Thursday, with the internet giant set to release its second-quarter earnings after the bell. While the stock is down 11 percent year-to-date, it has rebouned in the past month. So what should investors expect?

Fast trader Guy Adami isn't terribly optimistic. He thinks the stock will make another push down towards $500.

“It hasn’t performed over the last year,” he said. “You’ve had a rally into earnings. It’s going to be fascinating to see what happens.”

However, his bias is lower.

And what about Google's recent introduction of its social network site, Google Plus?

Fast trader Patty Edwards thinks the ancillary businesses are “interesting” but aren’t gong to drive the stock. She thinks investors need to be looking at the ad revenue.

Ben Schachter, Macquarie Capital’s media analyst, is bullish. While there's been a lot of talk about the new social network site, he believes what's going to move the stock will be the earnings numbers.

Schachter thinks this is a stock that people want to own again.

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Time to Buy Homebuilders?

With Goldman Sachs upgrading Toll Brothers to a ‘buy’ from ‘neutral,’ is it finally time to buy homebuilders stocks?

Brian Kelly is bullish housing. He said there is explicit government support now that Fanny Mae and Freddie Mac own over 50 percent of the foreclosed homes on the market. Add in the fact that Toll Brothers is still selling homes and credit quality is improving, and he thinks this is a “great place to get in on these names.”

Steve Cortes, however, is generally bearish when it comes to housing, but he doesn’t want to short these names because the price action is too constructive.

“The price action tells me that this going to be, honestly, I think a boring sector,” he said, adding he would stay away from it on either side.

The traders also spoke to Daniel Fisher of MBF Trading to get the low down on trading nat gas futures. To see the full interview, watch the video!

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On July 11, 2011, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s "Fast Money" were owned by the "Fast Money" traders; Adami Owns (AGU); Adami Owns (C); Adami Owns (GS); Adami Owns (INTC); Adami Owns (MSFT); Adami Owns (NUE); Adami Owns (BTU); Cortes owns (GS); Cortes owns (EXC); Cortes owns (SVU); Cortes owns (PM); Cortes is short (AAPL); Cortes is short (IYT); Cortes is short (LULU); Cortes is short the S&P; Cortes is short Crude; Cortes is short Copper; Weiss owns (JPM); Weiss owns (HBAN); Weiss owns (CMA); Weiss owns (KEY); Weiss owns (COP); Weiss owns (DVN); Weiss owns (HK)

For Patty Edwards
Edwards Owns (AAPL) For Clients
Edwards Owns (AMZN) For Clients
Edwards Owns (CVX) For Clients
Edwards Owns (COP) For Clients
Edwards Owns (VLO) For Clients
Edwards Owns (NOV) For Clients
Edwards Owns (OIH) For Clients
Edwards Owns (XLB) For Clients
Edwards Owns (CBI) For Clients
Edwards Owns GOLD For Clients
Edwards Owns SILVER For Clients
Edwards is long (XLK)

For Brian Kelly
Accounts Managed By Brian Kelly Capital Own (WFC)
Accounts Managed By Brian Kelly Capital Own (SLV)
Accounts Managed By Brian Kelly Capital Own (GDXJ)
Accounts Managed By Brian Kelly Capital Own (TBT)
Accounts Managed By Brian Kelly Capital Own (INTC)
Accounts Managed By Brian Kelly Capital Own (NLY)
Accounts Managed By Brian Kelly Capital Own (UGA)
Accounts Managed By Brian Kelly Capital Own (ESV)
Accounts Managed By Brian Kelly Capital Own (SDS)
Accounts Managed By Brian Kelly Capital Own (KRE
Accounts Managed By Brian Kelly Capital Are Short the Australian Dollar

For Ben Schacter
No Disclosures

CNBC.com with wires.