This Day On The Street
Continue to site
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: Market Angst

NEW YORK ( TheStreet) -- The markets were mixed Thursday as debt worries deepened.

The The Dow Jones Industrial Average fell 62.44, or 0.51%, to 12,240.11. The S&P 500 dropped 4.22, or 0.32%, to 1300.67. The Nasdaq was up 1.46, or 0.05%, to 2766.25.

Most of CNBC's "Fast Money" TV show focused on the eleventh-hour moves to get the Boehner bill passed in the House to reduce the budget deficit and institute spending cuts.

Guy Adami said he was surprised that the S&P didn't move higher today on expectations of a deal.

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

Steve Grasso said he is certain that a deal is going to get done. "Anyone educated in the markets knows it's going to get done."

Joe Terranova said the problem lies not so much in the credit markets, which he sees performing well, but in the equity markets. He said the markets are pricing in a downgrade in U.S. debt because they don't believe that it's possible to enact legislation to reduce the long-term deficit by $4 trillion over a decade.

Terranova said the prospects of a summer rally from a wave of solid earnings has been negated by the string of press conferences in Washington over the state of the debt crisis.

Najarian said investors are "frustrated," adding they "don't like to watch how sausage is being made" and see "how stupid and argumentative these people can be."

Ron Isana said the markets are not acting like they were in 2008. He said there hasn't been a sharp decline in the markets or a crash in the dollar, adding the level of complacency has been unusual.

Najarian said big players in the options markets have been making huge bets that volatility could double in the next week to 10 days.

Dennis Gartman said he was going to stay away from anything connected with the U.S., including the dollar, bonds and equities. He said there are so many other trades investors can get into such as getting long gold and shorting currencies.
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
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
CSCO $25.76 0.00%
SKX $132.00 0.00%
SBUX $58.08 0.00%
XLU $43.35 0.00%
AAPL $110.38 0.00%


Chart of I:DJI
DOW 16,472.37 +200.36 1.23%
S&P 500 1,951.36 +27.54 1.43%
NASDAQ 4,707.7750 +80.6910 1.74%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs