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'Fast Money' Recap: Jumping Into Retail

Baidu (BIDU) fell 3% and Brown said he still likes the Chinese Internet stocks. He called the selloff a possible buying opportunity. 

Micron (MU) fell 2%. Grasso said there's nothing wrong with taking profits after a big move higher, but the stock seemed likely to trade up to $30.

Brown agreed with Morgan Stanley's downgrade of Yum! Brands (YUM) to hold from buy. He added that the improvements in China were fully priced in and he suggested taking profits. 

Grasso, although long Sprint (S), agreed with the buy to hold downgrade from Deutsche Bank. He said the stock has run too far, too fast and he was a buyer of T-Mobile U.S. (TMUS)

Kelly -- who admitted he's been wrong so far about his bullish crude oil call -- said declining drilling rates increases the likelihood that oil will go higher. 

Adami suggested prospective buyers of Starbucks (SBUX) wait until the company reports earnings. If the stock sells off below $75, he considered it a buyer opportunity. 

Brown suggested investors do not try and play Facebook (FB) or Twitter (TWTR) into earnings. Grasso agreed. 

Kelly is a seller of Lumber Liquidators (LL), which seems likely to head lower. 

Grasso said Southwest Airlines (LUV) is a good stock to own for the red-hot airline sector. He also likes JetBlue Airways (JBLU).

For their final trades, Brown is a buyer of the iShares MSCI Europe Financial Sector Index ETF (EUFN) and Adami is buying Hexcel (HXL). Grasso said to buy Cree (CREE) and Kelly is selling the iShares MSCI South Korea Capped ETF (EWY)

-- Written by Bret Kenwell in Petoskey, Mich.

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Bret Kenwell currently writes, blogs and also contributes to Robert Weinstein's Weekly Options Newsletter. Focuses on short-to-intermediate-term trading opportunities that can be exposed via options. He prefers to use debit trades on momentum setups and credit trades on support/resistance setups. He also focuses on building long-term wealth by searching for consistent, quality dividend paying companies and long-term growth companies. He considers himself the surfer, not the wave, in relation to the market and himself. He has no allegiance to either the bull side or the bear side.

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