United States Natural Gas ETF
popped 2%. Kelly continues to like it but suggested those looking to get long wait for a pulback.
International Business Machine
dropped 2%. Nathan says he's long via call options because a lot of bad news seems to be factored into the stock.
is volatile but could be an M&A target. Kelly added that investors who want to own the stock should use $15 as their stop.
missed earnings estimates and Nathan cautioned traders to let the stock settle for a few days. It should find support in the mid-$60s.
Puerto Rican debt continues to climb, now estimated to be near $70 billion, which is rather large considering the country's size. Alexandra Lebenthal was a guest on the show and said that most of the issuers are rated near "junk" status and fund managers have been selling their positions in Puerto Rico bonds. The bonds are exempt from federal and state taxes, which is one of their key selling points and the reason why over 75% of U.S. municipal bond funds have exposure to them.
Kelly said bond tapering by the
is now off the table until mid-2014, and he would short the
iShares 20+ Year Treasury Bond ETF
if there's weakness caused by the FOMC meeting.
reports earnings Wednesday morning and Nathan thinks investors should listen to what management says about the U.S. consumer.
For their final trades, Kelly is a buyer of
, Khouw said to buy
via calls, and Nathan is a buyer of the October expiration $185 calls for International Business Machine. Finerman is selling out-the-money
SPDR S&P 500 Trust ETF
puts against her long at-the-money SPY put position. Adami is a buyer of
Church & Dwight
-- Written by Bret Kenwell in Petoskey, Mich.
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