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By Roberto Pedone
PEWAUKEE, Wis. (
) --Some of the traders on
"Fast Money" are concerned that with
and the rest of the tech sector losing steam, market players might be starting to fear that the bull market rally is over.
On Tuesday's "Fast Money" TV show, Joe Terranova said that the markets have lost momentum caused by strong earnings reports and now the
has suffered a technical failure. He pointed out that the market lost the best sector, tech, and the smartphone trade has started to unwind.
Terranova told viewers that if the S&P can trade back above 1070, momentum will prevail. Tim Seymour said the uncertainly around the one-time home-buying tax credit, which is set to expire, weighed on stocks. He also mentioned that investors might be getting scared that the stimulus dollars are starting to leave the market.
Karen Finerman said she isn't worried about the tech sector, which over the last six weeks has had a huge run before hitting a bump. She also advised viewers not to worry about the consumer confidence number because it's backward-looking and doesn't give us a whole lot of information.
On Wednesday's "Halftime Report" segment, Brian Kelly explained that Apple is the key to overall market direction. He said to watch how the stock trades off of former resistance at $192.38 a share. Kelly said if Apple can catch a bounce at that level, it will be a bullish sign for the broad market However, if it can't, he thinks the S&P could easily drop 5%.
The crew has recently highlighted trading ideas that play off emerging markets, potential new regulation for banks that took government money, and stock plays for a weak U.S. dollar. Here are some highlights from over the past week as aggregated from the show.
: What are some of the best ways to play a falling U.S. dollar? On last Wednesday's "Halftime Report" segment, Dennis Gartman told viewers: "I think the world is rather disturbed about the fact that the administration continues to take us to the left, and if that happens the dollar weakness." The
CurrencyShares Canadian Dollar Trust
CurrencyShares Australian Dollar Trust
: Washington is looking to implement new regulations for the large financial firms that need government help to stay solvent. How should you trade this news? On Monday's "Fast Money" show, Tim Seymour told viewers: "Consumer banks may be forced to divest their best stakes and return to a situation when banks were prohibited from owning other financial companies under the Glass-Steagall Act." The
Bank of America
: Interest in the energy sector is perking up after
(BP) reported strong earnings. How should you play the rest of big oil earnings? On Tuesday's "Fast Money" show, Deutsche analyst Paul Sankey told viewers: "I'm bearish on oil. The winter forecast doesn't seem terribly fierce, demand is falling, and supplies are certainly adequate." The
: The traders see opportunity in playing the growing $150 billion ecommerce industry. On last Friday's "Fast Money" show, Steve Grasso told viewers: "Younger people can afford to spend because they didn't take the hit the adults did on their 401(k)s." The
: Despite what many think, the public option might be back on the table. What's the trade? On last Friday's "Fast Money" show, Joe Terranova told viewers: "The rhetoric generates uncertainty, and as a result I think the health care space is under-invested." The
: Emerging market specialist Tim Seymour scours the globe for the hottest plays abroad. He's found a number of stocks that could be the next big overseas plays. On last Thursday's "Fast Money" show, Seymour told viewers: "Think of
of Russia, a company that's carving a niche with younger audiences." The
Central European Media Enterprises
-- Written by Roberto Pedone in Pewaukee, Wis.
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Roberto Pedone, based out of Pewaukee, Wis., is an independent trader who focuses on stocks, options, futures, commodities and currencies. He is also an outside contributor to Beconequity.com and maintains the website Maddmoney.net, which he sold to Blue Wave Advisors in 2008. Roberto studied International Business at The Milwaukee School of Engineering, and he spent a year overseas studying business in Lubeck, Germany.