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Adobe Stock Momentum Ends Here, says Joe T.

”The momentum in Adobe will end here,” says Joe Terranova. That was the Fast Money’s pros gut reaction after hearing the latest.

Specifically, Adobe said it plans to lay off 750 positions and take a charge of up to $94 million as part of a restructuring to re-focus the company on digital media and marketing.

And Terranova isn’t just skeptical of momentum; he doesn’t think the technicals hold either.

”Wednesday was the first day the stock traded above the 200-day, but I think that level is rejected,“ he says.

But that doesn’t mean you should avoid the stock all together. “If it trades down to $26 however, I think it gets interesting,” he says.

Trader Jon Najarian agrees. If it trades down to $26, “that level is a real value,” he says.






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Trader disclosure: On November 8, 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 is long BAC; Seymour is long GLD; Seymour is long FCX; Seymour is long INTC; Finerman owns AAPL; Finerman owns BAC; Finerman owns GOOG; Finerman owns MSFT; Finerman’s firm has short calls AAPL; Finerman’s firm has short calls IBM; Finerman’s firm owns MSFT; Finerman’s firm has short calls WMT; Adami Owns AGU; Adami Owns C; Adami Owns GS; Adami Owns INTC; Adami Owns MSFT; Adami Owns NUE; Adami Owns BTU; Terranova is long CAT; Terranova is long CVI; Terranova is long VRTS; Terranova is long APC; Terranova is long F; Terranova is long EMC; Terranova is long AAPL; Terranova is long IBM; Terranova is long JOYG; Terranova is long LULU; Najarian has long call spreads AAPL; Najarian has long call spreads AKS; Najarian has long call spreads BAC; Najarian has long call spreads WFC; Najarian has long call spreads JPM; Najarian has long call spreads RAX; Najarian has long call spreads ANR; Najarian has long call spreads MRVL; Najarian is long CBOE; Najarian is long CME; Najarian is long CIGX

For Mike Khouw
Cantor Fitzgerald is a market maker AAPL
Cantor Fitzgerald is a market maker AKAM
Cantor Fitzgerald is a market maker AKS
Cantor Fitzgerald is a market maker AMLN
Cantor Fitzgerald is a market maker ANR
Cantor Fitzgerald is a market maker BAC
Cantor Fitzgerald is a market maker C
Cantor Fitzgerald is a market maker CLD
Cantor Fitzgerald is a market maker DISH
Cantor Fitzgerald is a market maker DYN
Cantor Fitzgerald is a market maker FCX
Cantor Fitzgerald is a market maker GDX
Cantor Fitzgerald is a market maker GM
Cantor Fitzgerald is a market maker GMCR
Cantor Fitzgerald is a market maker GOOG
Cantor Fitzgerald is a market maker GS
Cantor Fitzgerald is a market maker INTC
Cantor Fitzgerald is a market maker JPM
Cantor Fitzgerald is a market maker LLY
Cantor Fitzgerald is a market maker LULU
Cantor Fitzgerald is a market maker MRVL
Cantor Fitzgerald is a market maker MS
Cantor Fitzgerald is a market maker NEM
Cantor Fitzgerald is a market maker NFLX
Cantor Fitzgerald is a market maker NILE
Cantor Fitzgerald is a market maker ORCL
Cantor Fitzgerald is a market maker PFE
Cantor Fitzgerald is a market maker SMH
Cantor Fitzgerald is a market maker TLT
Cantor Fitzgerald is a market maker TOL
Cantor Fitzgerald is a market maker XLF
Cantor Fitzgerald is a market maker XLU

For David Riedel
No disclosures

For Dan Clifton
No disclosures

For Dan Bradbury
No disclosures



CNBC.com with wires.