By Roberto Pedone
PEWAUKEE, Wis. (
) -- The traders of
"Fast Money" are concerned that recent problems with Dubai World and Fitch Ratings' downgrade of Greece's bond rating is starting to spill over into U.S. equities. On Tuesday's "Fast Money" TV show, Karen Finerman told viewers that market players are worried that we might see more problems hit other nations, similar to what happened to Greece.
Tim Seymour said the U.S. markets are getting hit by problems coming out of Europe, including a bad industrial number from Germany and the ongoing Dubai debt crisis. Seymour explained that the problem isn't necessarily Greece but more that if Greece has a problem, then a lot of other countries do as well. He warned investors to stay away from European banks such as
because these are the two banks investors think have the most exposure to Greece.
Joe Terranvoa mentioned he is watching gold very closely. He said the safety blanket of the entire financial community is gold, and it's the one asset class trading below its pre-Dubai levels. Pete Najarian said that volatility is returning to the markets as gold stocks and other commodities trade down.
On Wednesday's "Halftime Report" segment, Brian Kelly said the markets look like they have shrugged off the problems with Dubai and Greece. He thinks the bigger problems for the markets going into 2010 are if problems develop in Britain and Japan. He recommended playing this uncertainty by going long the dollar and short the
CurrencyShares Japanese Yen Trust
The "Fast Money" crew has recently highlighted trading ideas that play off their top nine dividend stocks, bank stocks and stocks with unusual options activity. Here are some highlights from over the past week as aggregated from the show.
: Recently, "Fast Money" host Melissa Lee asked the panel for their top dividend-yielding stock picks. On Monday's "Fast Money" show, Pete Najarian told viewers: "I like
and its 5% dividend." The
: The traders have noticed some unusual options activity in a number of stocks. On Monday's "Fast Money" show, Pete Najarian told viewers: "On
33,000 Jan 9 calls and Jan 10 calls traded against 162 puts. To me, this means big investors are betting the stock could continue to climb." The
: The tech sector is a place of confusion for investors right now with
breaking its 50-day moving average, while
continue to act bullish. How should you trade this action? On last Friday's "Fast Money" show, Katie Stockton of MKM told viewers: "I don't think the patterns in Apple's chart are as significant as many investors are making them out to be. I see additional support around $185. In this positive momentum environment I think it's still okay to own." The
: Traders are concerned about the bank sector after shares of
Goldman Sachs Group
hit a three-month low. On Tuesday's "Fast Money" show, Karen Finerman told viewers: "My entry point in Goldman would be $160. And I think $15 is an okay entry point in
Bank of America
: With warnings season on hand, how should you play the semiconductor complex? On Monday's "Fast Money" show FBR analyst Craig Berger told viewers: "I think
will have good things to say. I think they raise their earnings and revenue guidance." The
-- Written by Roberto Pedone in Pewaukee, Wis.
Stockpickr is a wholly owned subsidiary of TheStreet.com.
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.