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: The Profit-Taking Spreads

NEW YORK (TheStreet) -- The S&P 500 sold off again on Monday, closing lower by 1.08%. 

On CNBC's "Fast Money" TV show, Brian Kelly, founder of Brian Kelly Capital, said profit-taking has found its way beyond the tech sector and into other market leaders such as U.S. Steel (X), AKS Steel (AKS), Home Depot (HD), Lowe's (LOW) and Tractor Supply Company (TSCO)

Guy Adami, managing director of, said he thinks the market will bottom shortly and begin to bounce from current levels. 

Dan Nathan, co-founder and editor of, is short the Financial Select Sector SPDR ETF (XLF). He argued that financial stocks already have a lot of good news priced in, making it hard for them to rally, while increased regulations will make operations more difficult for individual banks. 

Must Read: 'Fast Money' Recap: Momentum Shift

Karen Finerman, president of Metropolitan Capital Advisors, said she is staying long financial stocks heading into earnings season, with Wells Fargo (WFC) and JPMorgan Chase (JPM) reporting on Friday. She also bought Google (GOOG) on Monday. 

Nathan pointed out that Starbucks (SBUX) and Nike (NKE) are trying to hold very key support levels. 

Dan Niles, CIO of Alpha One Capital Partners, said a lot of technology companies have rallied for no reason over the past year. He pointed out Amazon (AMZN) and Google each missed estimates on three of its last four earnings reports. 

While Google has good growth, the stock was up over 50% in 2013 despite the earnings mishaps. He suggested the stocks that don't report good numbers will be the ones that get hit hard in 2014. He likes Altera (ALTR) and Xilinx (XLNX)

Nathan suggested Amazon will decline another 5% to 10% if it misses earnings expectations for next quarter. However, he said if the company can grow earnings, the stock may begin to rally once again. 

Andrew Wallenstein, editor-in-chief at Variety Digital, was a guest on the show. Regarding Yahoo!'s (YHOO) plan to take on original programming (like Netflix's (NFLX) House of Cards), he said the project will be expensive, roughly $700,000 to $1 million per episode. Yahoo! plans to do 10, 30-minute episodes. He said that a huge "hit" could be significantly positive to be the bottom line but admitted that it would be unlikely. 

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
TSLA $231.36 -0.41%
YHOO $35.92 -0.25%
AAPL $94.35 -0.87%
FB $118.15 0.61%
GOOG $696.88 0.65%


Chart of I:DJI
DOW 17,700.88 -50.03 -0.28%
S&P 500 2,056.51 -6.86 -0.33%
NASDAQ 4,746.7140 -16.51 -0.35%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs