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: On a Losing Streak

Stock quotes in this article: ABX, FCX, NEM, TRIP, AAPL, PHM, TSO, CHK, CREE, Z, TBT

NEW YORK ( TheStreet) -- The broader market remained mixed on Friday, closing down for the week after another day in the red.

After stocks suffered their worst three-day losing streak since July 2012, Dan Nathan said on CNBC's "Fast Money" TV show that it only feels like we're in a correction, down 3% off the highs.

He likes defensive stocks with solid yields and is a buyer AT&T (T) call options.

Brian Kelly said the bond market has been wild, but if it gets too out of control it will likely hurt the equity markets. He said he's worried about the speed in which rates are climbing.

Josh Brown said that based on seasonality, this price action is totally normal and he welcomes a healthy pullback. He added that the Federal Reserve has put in too much time and money to simply cut off the stimulus completely.

Steve Grasso added that housing numbers still look good, despite housing stocks performing poorly. He thinks investors could stay long the stocks they believe in.

Guest Marc Faber, publisher of the Doom, Gloom & Boom Report, said he continues to like gold. He pointed to the recent poor performance from the interior of the market -- such as housing, retail and airlines -- yet the S&P 500 is only down a couple of percent from the highs.

He added that he sees value in the miners and recently bought Barrick Gold (ABX), Freeport-McMoRan (FCX) and Newmont Mining (NEM).

TripAdvisor (TRIP) was the first stock on the show's "Pops & Drops" segment; the stock dropped 13% on the week. Nathan said the stock is lower due to pessimistic comments from the CEO regarding traveling.

Apple (AAPL) popped 11% this week. Brown said the stock was going up regardless but it didn't hurt that hedge fund manager Carl Icahn gave it the push it needed. Brown added the stock should have solid support near $500.

PulteGroup (PHM) made some ugly lows on Thursday, but bounced back strong, up 4% for the week. Grasso said traders could take a small position in homebuilders going forward.

1 of 2

Select the service that is right for you!

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 16,823.88 -219.02 -1.29%
S&P 500 1,949.80 -22.49 -1.14%
NASDAQ 4,428.10 -65.29 -1.45%

Brokerage Partners

Rates from

  • 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