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
TheStreet Open House

'Fast Money' Recap: Housing Stocks

NEW YORK ( TheStreet) -- The S&P 500 was resilient in Friday's trading session, closing marginally higher after opening in the red.

The big story this week, aside from earnings, was the decline in the housing stocks. On CNBC's "Fast Money" show, Josh Brown said he doesn't want anything to do with them. He added that it's too late to be short and ultimately not a dip you want to buy. They have lost their momentum and will likely go on to make a series of lower highs, he concluded.

Guy Adami disagreed. He said this dip is one to buy but only as a trade, not as an investment. He likes PulteGroup (PHM).

Steve Grasso said that he would rather be a buyer of Home Depot (HD), even though it is not directly related to the housing sector. He added that the earnings have been consistent and HD has a nice chart.

Starbucks (SBUX) was the first stock on the show's "Top Trades" segment, after making all-time highs following a favorable earnings report.

Despite beating on the top- and bottom-lines and raising quarterly and full-year guidance, Adami said that he would not recommended chasing the stock and would wait for a pullback.

J.C. Penney (JCP) and Microsoft (MSFT) were in the news when hedge fund manager David Einhorn said he would be covering his short position on the former and selling out of his long position in the latter.

Brown said that this would really concern him if he was a Microsoft shareholder, adding that a lot of problems remain at the company.

Adami said that just because Einhorn is covering his short bet does not mean J.C. Penney doesn't have issues. He said he was neither a buyer or a seller of the stock.

Finally, with Tesla (TSLA) up over 270% on the year, Grasso said that traders need a strong stomach to own the stock. However, if they can handle it, he agrees with Deutsche Bank's upgrade and $160 price target.

While 10-year Treasury rates have pulled back slightly, they are still up 50% over the past three months. With the FOMC meeting next week, Adami doesn't think it's too late for the Federal Reserve to push rates lower once again. He added that he is looking for rates to drop below 2%.

1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

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
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, 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
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

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

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
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!
DOW 17,279.74 +13.75 0.08%
S&P 500 2,010.40 -0.96 -0.05%
NASDAQ 4,579.7890 -13.6380 -0.30%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs