WINDERMERE, Fla. (Stockpickr) -- Some of the traders of CNBC's "Fast Money" think the stock market correction could be over now that the EU is taken new steps to control the financial crisis in Greece. On Tuesday's "Fast Money" TV show, Joe Terranova told viewers that the correction will be shallow. He said that over the next few says days he expects to see the market rally more. Steve Grasso pointed out that the current correction reached 9%. He thinks investors might have decided that was close enough to 10% and that they started buying up stocks again.
Tim Seymour reminded viewers that China is on vacation, plus we have options expiration on Friday. He said he's suspicious of the notion that the correction is over. Karen Finerman said she wouldn't be surprised to see the market trade higher on Wednesday. She explained that with Evan Bayh retiring, it might mean the pressure on Wall Street will hit gridlock, and that would be bullish for the financial sector. (View
Steve Grasso believes we could start to see a stronger dollar and bullish action in commodities. He said commodities can rally from demand and not just off moves in the dollar. Grasso thinks a new trend is emerging in which the market will see strong action in both the dollar and commodities at the same time.
The "Fast Money" crew has recently highlighted trading ideas that play off stocks showing up on 13F filings, commodity stocks with the potential to bounce and top ETF stock picks. Here are some highlights from over the past week as aggregated from the show.
: With 13F filings starting to hit the Street, the traders are finding a number of new positions worth watching. On Tuesday's "Fast Money" show, Joe Terranova told viewers: "Don't chase
Bank of America
is making a long-term bet." The
: President Barack Obama announced more than $8 billion in federal loan guarantees for the construction of the first nuclear power plant in the U.S. in nearly three decades. What's the trade? On Tuesday's "Halftime Report" segment, Tim Seymour told viewers: "Shares of uranium producer
jumped on the news. I'd keep an eye on this stock." The
: Which U.S. banks have the most exposure to Greece? On Tuesday's "Fast Money" show, Bernstein analyst Brad Hintz told viewers: "You can look at the list of who are the primary dealers and the players who trade in Greek government bonds, and when you go down the list, No. 9 is Merrill Lynch. In other words, Bank of America may have bought into the problem when they acquired Merrill." The
Goldman Sachs Group
: The traders have noticed that the commodity sector is starting to bounce back. On last Thursday's "Fast Money" segment, Joe Terranova told viewers: "I believe the ag trade is coming back. I'm watching
and other names in the space." The
: China surprised the markets by raising reserve requirements for the second time in two months. How should you trade this? On last Friday's "Fast Money" show, Zach Karabell of RiverTwice Research told viewers: "These events don't change my fundamental thesis and China is an enormous and growing engine of global growth. I'd be a buyer of what China buys as an economy." The
: Recently, the crew asked Tom Lydon, editor of
, for his top ETF picks for this market. On last Wednesday's "Fast Money" show, Lydon told viewers: "The
PowerShares U.S. Dollar Bull
has just broken above its 200-day moving average, more money is flowing in, and you can't fight the trend. I think it's going higher." The
CurrencyShares Euro Trust
PowerShares U.S. Dollar Bear
-- Written by Roberto Pedone in Windermere, Fla.
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