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: Forget the Fed, What About Apple?

Finerman said she was hoping for Target to pull back following its recent earnings report where management lowered expectations. The stock is "not particularly cheap right here," she added. 

Finerman said Bank of America (BAC) trades at just over one times tangible-book value, which indicates it's fairly valued. She added that the stock can get to $20 over the next 18 months but needs interest rates to move higher to improve profitability. Grasso said he agrees with Finerman's longer-term outlook and said the stock is likely to remain rangebound between $14.50 and 16.50. 

Nathan said shares of Bank of America trade "horribly," and he would look elsewhere for the time being.

Anthony Grisanti, founder, president and oil trader at GRZ Energy, said WTI crude oil could fall another $5 per barrel by the October expiration. Demand is lower, supply is higher and geopolitical issues are not causing prices to rise. Demand almost always falls in the fourth quarter, too, he concluded. 

Must Read: Stock Market Today: Stocks Regain Momentum, Shrug Off Hawkish Fed Minutes

Kelly said he covered his short position in crude oil. In order for him to sell the commodity short once again there would need to be another catalyst, such as lower demand, a slowing European economy or lower geopolitical tensions. 

Grasso said he is still long Cheniere Energy (LNG) but large, integrated oil stocks are headed lower if crude heads lower, too. 

Finerman said tanker companies such as Navios Maritime Acquisition (NNA) trade based on oil supply, which is higher, and not prices, which are falling. 

Kelly said he has small bearish position in the iShares 20+ Treasury Bond ETF (TLT) via put options ahead of Friday's Federal Reserve Jackson Hole speech. 

JetBlue Airways (JBLU) climbed 3% and was the first stock on the show's "Pops & Drops" segment. Grasso said he would stay long the stock despite the 49% year-to-date increase in the stock price. 

Cumulus Media (CMLS) popped 6%. Finerman said the stock has been "painful" to be in but she is still long. The recent selloff was overdone, she added. 

2 of 3

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
AAPL $93.74 0.00%
FB $117.58 0.00%
GOOG $693.01 0.00%
TSLA $240.76 0.00%
YHOO $36.60 0.00%


Chart of I:DJI
DOW 17,773.64 -57.12 -0.32%
S&P 500 2,065.30 -10.51 -0.51%
NASDAQ 4,775.3580 -29.9330 -0.62%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs