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: Another Down Day

NEW YORK ( TheStreet) -- The S&P 500 declined for a third straight day on low volume over fears of potential tapering.

On "Fast Money," Guy Adami said that although the markets have not had a 10% correction in two years, they have had a couple that got close to the mark, at about 8.5%. He added that it might be time to take some money off the table even though the S&P 500 might get back to 1,725.

Dan Nathan said the gains have been great, but the trade seems like it's getting crowded. Everyone from around the world has been chasing U.S. equities, which pushed stock prices to record highs.

Tim Seymour said the iShares MSCI Emerging Markets ETF (EEM) and other emerging markets are approaching multi-year lows and that there is a lot of value outside of the U.S.

Josh Brown added that it's been a buy-the-dip environment and when the markets had a 6% correction in June of this year, buyers rushed back in. He said he's not sure when we'll get a sustained, deep pullback, but that it will shock a lot of investors when we do.

Green Mountain Coffee Roasters (GMCR) reported earnings and posted a bottom-line beat on lighter-than-expected top-line figures. Seymour said the stock was expensive and he would avoid until it forms a bottom.

Guest Doug Kass, founder and president of Seabreeze Partners Management and a contributor to, said that it's been a tough six weeks because he has been short.

Overall, he thinks there are three major bearish factors to consider: China's sluggish activity, poor economic growth and rising interest rates. He is looking for more downside and hoping that July put in a near-term top.

Jack In The Box (JACK) reported earnings. Adami said he understands why some investors would take profits, but would be a buyer of the stock near $37.50.

First Solar (FSLR), which missed top- and bottom-line estimates, was the first stock on the show's "Today's Top Trades" segment. Seymour said the solar business will remain important, but the numbers were bad and traders should be careful taking a position.
1 of 2

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
AAPL $95.04 -0.15%
FB $117.29 -0.12%
GOOG $694.38 0.29%
TSLA $231.61 -0.31%
YHOO $35.93 -0.22%


Chart of I:DJI
DOW 17,706.25 -44.66 -0.25%
S&P 500 2,049.60 -13.77 -0.67%
NASDAQ 4,732.7250 -30.4990 -0.64%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs