'Fast Money' Portfolios of the Week
WINDERMERE, Fla. (Stockpickr) -- According to CNBC's "Fast Money" traders, only two things seem capable of taking this market down: debt troubles overseas and housing troubles here at home. On Wednesday's "Halftime Report" show, Joe Terranova told viewers that he's not sure if the market action is a melt-up or if the market is anticipating a strong jobs report on April 2. But either way he said the momentum points higher.
Jared Levy mentioned that with all the low volume in this market it's possible the market is waiting for the jobs report to provide the next big catalyst for stocks. He said as we wait it's possible we see a small retracement in stocks and he's getting more bearish at least for the next few weeks.
Mike Gurka of Neural thinks that yesterday's resistance is today's support in the
S&P 500
. He said if the S&P starts to trade lower here he would look to buy it on the dip. Brian Kelly of Kunundrum explained that as long as money remains cheap he will continue to be a buyer of this market.
The "Fast Money" crew has recently highlighted trading ideas that play off healthcare reform, increased dealmaking on Wall Street and stock with unusual options activity. Here are some highlights from over the past week as aggregated from the show.
Fast Money's 8 Stocks With Upside
: The traders see big opportunity in 8 commodity stocks. On Tuesday's "Halftime Report" segment, Steve Grasso of Stuart Frankel told viewers: "I'm bullish on iron ore. I think the spot price has room to run. And I'd play it with a long position in
Vale
(VALE) - Get Report
but with a tight stop." The
Fast Money's 8 Stocks With Upside
portfolio includes
Joy Global
( JOYG) and
Freeport McMoRan
(FCX) - Get Report
.
Fast Money's Health Care Reform Trades
: Now that healthcare reform has passed solidly through Congress, how should you trade the drug and health sectors? On Monday's "Fast Money" show, Joe Terranova told viewers: "With uncertainty removed from the sector, I think we see money managers rotate into stocks such as
Tenet
(THC) - Get Report
. It's just one of many stocks in this sector that are under-owned." The
Fast Money's Health Care Reform Trades
portfolio includes
Express Scripts
(ESRX)
and
Walgreens
(WAG)
.
Fast Money's Options Trades & Activity
: The traders have noticed some unusual options activity in a number of stocks. On Wednesday's "Halftime Report" segment, Jared Levy told viewers: "The large volume of April 70 calls and April 75 calls traded suggest to me that
Devon Energy
(DVN) - Get Report
could make a sharp move higher. There's market chatter that the company is a takeover target." The
Fast Money's Options Trades & Activity
portfolio includes
Titanium Metals
(TIE)
and
Pactiv Corp
( PTV).
Fast Money's Inverted V Trades
: Not everyone on Wall Street believes that the current market rally is for real. On last Wednesday's "Fast Money" show, Michael Pento of Delta Global Advisors told viewers: "I expect we're in an inverted V recovery. The housing market will be in sad shape for quite some time and inflation is on the horizon." The
Fast Money's Inverted V Trades
portfolio includes
Penn West Energy Trust
(PWE)
and
Eldorado Gold
(EGO) - Get Report
.
: According to Dealogic, mid-size acquisitions are on pace to hit $28.8 billion in 2010. Which stocks should be on your radar? On Tuesday's "Fast Money" show, Gary Kaminsky told viewers: "If you believe the M&A market is back, I'd trade it with a long position in
Och-Ziff
(OZM)
." The
portfolio includes
Blackstone Group
(BX) - Get Report
and
Fortress Investment Group
(FIG)
.
-- Written by Roberto Pedone in Windermere, Fla.
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