This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

'Fast Money' Recap: A Big Day All Around

Stocks in New York logged substantial gains Thursday. The Nasdaq ticked up 1.9%, the S&P 500 added 2% and the Dow jumped 1.7%.

On CNBC's "Fast Money" TV show, the traders observed that the bond insurers suffered a downgrade today but nonetheless went higher. Crude also went up today.

Pete Najarian said today's action was "unbelievable." He said the rally today wasn't like yesterday's rotation into technology. He said he can't explain why every sector participated in the bullish action.

Guy Adami said that in May there was record short interest on the New York Stock Exchange. He said that money is flowing back into commodities and equities. He said that the market feels as though it will go higher.

Jeff Macke said people are tired of negative headlines and decided to buy in the face of bad news.

3 Stocks I Saw on TV

The price of oil jumped 4.5% today. Adami said that the rally isn't short-covering. He said oil will probably go higher, but investors might still see a pullback. Macke said speculators are playing in oil, because there was no supply or demand disruption to justify oil's major move upward.

Financials' Endgame

In the financials, Karen Finerman said there might be a bottom in Lehman Brothers (LEH) shares. She said the company will be able to raise capital if it needs to. She acknowledged that Lehman hasn't been completely forthright about the state of its business, but she predicted the stock would rally if the company raised capital.

Najarian pointed out that Lehman is in a different position from Bear Stearns. He said Lehman has more access to liquidity and can access the Federal Reserve's discount window.
1 of 4

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG
AAPL $125.63 -0.29%
ATVI $25.00 0.71%
CSCO $27.14 -0.29%
EDS $1.36 -1.45%
INTC $29.80 -0.78%

Markets

DOW 17,636.14 -47.44 -0.27%
S&P 500 2,070.92 +2.16 0.10%
NASDAQ 4,993.7520 +1.8120 0.04%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs