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
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

'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 stockmonster.com, said he thinks the market will bottom shortly and begin to bounce from current levels. 

Dan Nathan, co-founder and editor of riskreversal.com, 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. 

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

Select the service that is right for you!

COMPARE ALL SERVICES
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 16,982.59 +22.02 0.13%
S&P 500 1,978.91 +0.57 0.03%
NASDAQ 4,444.9090 -4.6550 -0.10%

Brokerage Partners

Rates from Bankrate.com

  • 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