This Day On The Street
Continue to site right-arrow
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: Supercommittee Trade

On a day when all commodities had a rough time, Dennis Gartman said it was an ugly session that "took no prisoners." He said there was simply no place to hide in gold, stocks or currencies.

He said the drop in gold might have caused by the sight of tear gas on the streets in Greece and unfounded rumors that the IMF and U.S. might be selling gold. He said the market psychology changed when the euro broke down.

In the auto sector, General Motors (GM) was down 3.1% and 30% down from its IPO price of $33. Adami thought the better company was Ford, while Mike Khouw said GM is still a well-liked name that has seen a rise in open interest in calls.

Moving on to the currency trade, Robert Savage, CEO of, said the emphasis in today's market is not computer models but risk management. He said it's not about trends or bottom lines as it is about taking defensive steps to avoid "losing your shirt."

He said the biggest fear for the markets is the possibility of a hard landing in China.

Lee said there was a bloodbath in China's Internet search sector. Thus far in November, Dangdang (DANG) is down 27%; (YOKU) is off 19%; and Renren (RENN), is off 39%.

Seymour said the sector that has been under intensive competitive pressures with companies having to live with razor thin margins in their chase for market share, allegations of fraud and valuation issues. He said the one exception has been Baidu (BIDU - Get Report), which continues to perform one.

Insana said he wouldn't bother to invest in Chinese stocks because of the lack of transparency.

In the final moves, Seymour liked the iShares MSCI Emerging Markets Index Fund (EEM). Adami liked Ralcorp (RAH). Finerman liked CF Industries (CF - Get Report) below $140. Terranova favored Aruba Networks (ARUN - Get Report).

-- Written by David Tong in San Francisco.

>To contact the writer of this article, click here: David Tong.

To submit a news tip, send an email to:

To watch replays of Cramer's video segments, visit the Mad Money page on CNBC.

Follow on Twitter and become a fan on Facebook.

3 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
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
EEM $40.63 1.25%
JEF $0.00 0.00%
AMZN $370.26 -0.50%
ARUN $24.48 -0.06%
BIDU $211.07 1.28%


DOW 17,698.18 -77.94 -0.44%
S&P 500 2,059.69 -8.20 -0.40%
NASDAQ 4,880.2280 -20.6570 -0.42%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs