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: Behind the Selloff

NEW YORK ( TheStreet) -- The market suffered a late selloff Wednesday that erased gains earlier in the trading session.

The Dow Jones Industrial Average lost 92.12, or 0.92%, to 10,041.48, while the S&P 500 dropped 6.85, or 0.62%, to 1,091.06. The Nasdaq fell 12.85, or 0.59%, to 2,163.47.

Melissa Lee, the moderator of CNBC's "Fast Money" TV show, said eBay (EBAY) was falling in afterhours trading by as much as 6% on a troublesome guidance.

Pete Najarian said the decline had something to not only with the outlook but also the high expectations for the stock going into earnings and the recent runup.

Guy Adami said he would wait for a pullback and buy the stock at $20.75.

For a breakout of some stocks from a recent "Fast Money" TV show, check out Dan Fitzpatrick's "3 Stocks I Saw on TV."

3 Stocks I Saw on TV

Lee shifted the panel's attention to the late selloff. Joe Terranova said he'll be watching the action of the dollar overnight. He said there could be more downside to come if the selloff was due to concerns about fundamentals. If that were to happen, the dollar will rally, he said.

Another troublesome concern for the market was the price of oil which rose above $81 a barrel as a government report showed a drawdown on inventories. Pete Najarian said higher gas prices is something consumers can feel directly.

Terranova noted that oil did not drop during today's selloff and said that could be an troubling sign for tomorrow's market.

1 of 3

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
CAT $85.18 -0.97%
DAL $42.90 1.50%
JBL $24.58 -0.12%
MA $92.44 -0.41%
MSFT $46.85 -1.30%

Markets

DOW 18,009.94 -116.18 -0.64%
S&P 500 2,108.65 -12.14 -0.57%
NASDAQ 5,074.1640 -23.8120 -0.47%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs