'Fast Money' Portfolios of the Week
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PEWAUKEE, Wis. (
) -- The traders of
CNBC's
"Fast Money" think the U.S. stock market is setting up to trade lower after negative sentiment ruled the day on Tuesday despite relatively strong economic data.
Guy Adami told viewers that stocks don't lie -- people do. He said Tuesday's bearish action in the stock market is just a prelude of things to come. Adami set a price target for the
S&P 500
of 970, possibly even 905.
Tim Seymour mentioned that the selloff was significant because it happened on a day when the volume was heavy and the ISM manufacturing index exceeded Wall Street expectations.
Joe Terranova was surprised that the market didn't see asset allocation on the first day of September. He said the market is going to pull back after failing to trade higher on bullish news. Terranova also reminded viewers to watch how
Goldman Sachs
(GS) - Get Report
trades because the action in this name will tell you which way the market is heading.
The crew has recently highlighted trading ideas that play off the technology sector, fertilizer sector and stocks with unusual options activity. Here are some highlights from over the past week as aggregated from the show.
Fast Money's Tech Stocks for All Seasons
: The traders think you can play tech for all seasons due to the coming corporate upgrade cycle. On last Thursday's "Fast Money" show, Joe Terranova told viewers: "The technology sector is void of contagion."
Fast Money's Tech Stocks for All Seasons
include
Seagate Technology
(STX) - Get Report
and
Western Digital
(WDC) - Get Report
.
Fast Money's Fertilizer Trades
: Is it time to jump into the fertilizer sector? On Wednesday's "Halftime Report" segment, Tim Seymour told viewers: "I think ag is a fundamental story. But beyond that it's also a takeover play."
Fast Money's Fertilizer Trades
include
Vale
(VALE) - Get Report
and
Potash
(POT)
.
: The traders have noticed some unusual options activity in a number of stocks. On Tuesday's "Fast Money" show, Pete Najarian told viewers: "Keep an eye on
Mosaic
(MOS) due to recent options action."
include
AIG
(AIG) - Get Report
and
Wells Fargo
(WFC) - Get Report
.
: The crew sees opportunity in playing mergers and acquisitions after three major deals hit the Street this week. On Monday's "Fast Money" show Karen Finerman told viewers: "I'm watching
Pride
(PDE). I think they're right in the sweet spot. It wouldn't be surprising to see a deal involving this company."
include
Chesapeake Energy
(CHK) - Get Report
and
Peabody Energy
(BTU) - Get Report
.
: Crude oil continues to drop as investors fear the sharp drop in China's stock market could mean demand for commodities is ready to fall off a cliff. On Monday's "Fast Money" show Guy Adami told viewers: "I still think the
Oil Service HOLDRs
(OIH) - Get Report
is heading to $98."
include
Transocean
(RIG) - Get Report
and
Freeport McMoRan
(FCX) - Get Report
.
: A leading trade group released new data that said global semiconductor sales rose substantially in July due to strong demand for products such as netbooks and cell phones. How should you trade this trend? On Monday's "Fast Money" show FBR analyst Craig Berger told viewers: "My top play in the chip space is
Marvell Tech
(MRVL) - Get Report
. Their gross margins are at seven-year high and the company is doing a good job cutting costs during the second quarter."
include
Fairchild Semiconductor
(FCS)
.
-- Written by Roberto Pedone in Pewaukee, Wis.
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