We’re hearing that hedge funds are shorting S&P futures, while also holding onto to many long positions in the market. What's their angle?
According to Anthony Scaramucci of Skybridge hedge funds are in fact hedging their bets because they fear retail investors are about to freak-out.
He says, hedge funds believe Mom & Pop investors are looking to Bernanke to support the market, as he has in the past. But he doesn't think Bernanke will come to the rescue this time.
"When Bernanke speaks we think he will be accommodative but we don’t think he has the political ammo for a QE3," says Scaramucci.
And that could set the market up for a whoosh lower.
Get all the details. Watch the video now!
______________________________________________________
Got something to to say? Send us an e-mail at fastmoney-web@cnbc.com and your comment might be posted on the Rapid Recap. If you'd prefer to make a comment, but not have it published on our Web site, send those e-mails to fastmoney@cnbc.com.
Trader disclosure: On Aug 22, 2011, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s "Fast Money" were owned by the "Fast Money" traders; Seymour owns (AAPL); Seymours own (BAC); Adami Owns (AGU); Adami Owns (C); Adami Owns (GS); Adami Owns (INTC); Adami Owns (MSFT); Adami Owns (NUE); Adami Owns (BTU); Finerman and Finerman’s firm own (AAPL); Finerman owns (BAC) and Finerman’s firm own (BAC) leaps; Finerman’s firm owns (HPQ) puts and Finerman owns (HPQ); Finerman owns (JPM) and Finerman’s firm owns (JPM) stock and (JPM) leaps; Finerman's Firm Is Short (IWR); Finerman's Firm Is Short (MDY); Finerman's Firm Is Short (XRT); Finerman's Firm Is Short (SPY); Finerman's Firm Is Long S&P 500 Puts; Finerman's Firm Is Long Russell 2000 Puts; Terranova owns (XOM); Terranova owns (IBM); Terranova owns (VRTS); Terranova owns (AAPL); Nations is long (SPY); Nations is long (TLT)
For Brian Kelly
Accounts managed by Brian Kelly Capital own the Euro
Accounts managed by Brian Kelly Capital own (MON) calls spreads
Accounts managed by Brian Kelly Capital own (JJG)
Accounts managed by Brian Kelly Capital are short (SPY) options
Accounts managed by Brian Kelly Capital are short (JJC) options
Accounts managed by Brian Kelly Capital are short the Aussie Dollar
Accounts managed by Brian Kelly Capital are short the Canadian Dollar
For Joe Terranova
Terranova is Chief Market Strategist of Virtus Investment Partners, LTD
Virtus Investment Partners Owns More Than 1% Of (ABAX)
Virtus Investment Partners Owns More Than 1% Of (AMKR)
Virtus Investment Partners Owns More Than 1% Of Building Materials Holdings
Virtus Investment Partners Owns More Than 1% Of (CASS)
Virtus Investment Partners Owns More Than 1% Of (CSVI)
Virtus Investment Partners Owns More Than 1% Of (EXR)
Virtus Investment Partners Owns More Than 1% Of (FCFS)
Virtus Investment Partners Owns More Than 1% Of (KRC)
Virtus Investment Partners Owns More Than 1% Of (LDR)
Virtus Investment Partners Owns More Than 1% Of (LHO)
Virtus Investment Partners Owns More Than 1% Of (NRCI)
Virtus Investment Partners Owns More Than 1% Of Sun Pharmaceutical Industries Ltd
Virtus Investment Partners Owns More Than 1% Of (DBV)
Virtus Investment Partners Owns More Than 1% Of (RLI)
Virtus Investment Partners Owns More Than 1% Of (XLB)
Virtus Investment Partners Owns More Than 1% Of (XLV)
Virtus Investment Partners Owns More Than 1% Of (XLP)
Virtus Investment Partners Owns More Than 1% Of (XLE)
Virtus Investment Partners Owns More Than 1% Of (XLF)
Virtus Investment Partners Owns More Than 1% Of (XLI)
Virtus Investment Partners Owns More Than 1% Of (XLK)
Virtus Investment Partners Owns More Than 1% Of (XLU)
Virtus Investment Partners Owns More Than 1% Of (SUBK)
Virtus Investment Partners Owns More Than 1% Of (WDFC)Virtus Investment Partners Owns More Than 1% Of (YDNT)
Virtus Investment Partners Owns More Than 1% Of Domino's Pizza UK & IRL PLC
For Dennis Gartman
Funds Managed By Dennis Gartman Own the British Pound, Euro, Yen, & Swiss Franc
Funds Managed By Dennis Gartman Own Gold
For Anthony Scaramucci
SkyBridge Capital Is A Fund Of Funds Manager
Funds Held May Or May Not Own The Recommended Securities
Scaramucci Is One Of 8 National Finance Chairs For Mitt Romney Campaign
Scaramucci held a fundraiser for Mitt Romney
For Anton Schutz
Mendon Capital Advisors owns (BAC)
Mendon Capital Advisors owns (C)
Mendon Capital Advisors owns (JPM)
Mendon Capital Advisors owns (MS)
For Amelia Bourdeau
** No disclosures
For John Roque
** No disclosures
For Dan Greenhaus
** No disclosures
CNBC.com with wires.
