'Fast Money' Portfolios of the Week

Here's what the 'Fast Money' crew's been talking about lately, including housing recovery trades and smartphone plays off the H-P-Palm merger.
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By Roberto Pedone

WINDERMERE, Fla. (

Stockpickr

) -- According to

CNBC's

"Fast Money" traders, the European storm is gathering strength. On Wednesday's "Halftime Report" segment, Brian Kelly of Kanundrum told viewers that he'd keep a very close eye on developments abroad. He mentioned that S&P downgraded Spain's rating to AA with a negative outlook, on the heels of downgrades of Greece and Portugal.

Kelly is worried the contagion could spread to the UK and Japan. He said he's playing it short the

CurrencyShares Euro Trust

(FXE) - Get Report

and he'd think about shorting the

CurrencyShares British Pound Trust

(FXB) - Get Report

. Kelly also suggested looking at shorting the European banks, such as

Deutsche Bank

(DB) - Get Report

and

Barclay's

(BCS) - Get Report

.

Jared Levy of Peak6 recommended shorting the euro because the technicals are pointing to much lower prices. Patty Edwards of Storehouse Partners explained that a weak euro makes a strong dollar. She said the way to play this trend is with the multinationals.

The "Fast Money" crew has recently highlighted trading ideas that play off new legislation aimed at derivatives trading, stocks for a housing recovery and stocks with unusual options activity. Here are some highlights from over the past week as aggregated from the show.

Fast Money's New Smartphone Trades

: The traders are rethinking their smartphone strategies after news broke that

Hewlett-Packard

(HPQ) - Get Report

has agreed to acquire

Palm

(PALM)

for around $1.2 billion, or $5.70 a share. On Wednesday's "Fast Money" show,

CNBC's

Jim Goldman told viewers: "As H-P develops new netbooks and other gadgets, it's likely they will run on webOS -- what is now H-P's own software. I'd expect that to be a great business proposition for H-P and a terrible development for

Microsoft

(MSFT) - Get Report

and

Google

(GOOG) - Get Report

." The

Fast Money's New Smartphone Trades

portfolio includes

Best Buy

(BBY) - Get Report

and

Nvidia

(NVDA) - Get Report

.

>> Who Owns Hewlett-Packard?: Ken Fisher

Fast Money's 4 Stock Buys for Right Now

: The traders think four stocks should be on everyone's radar right now. On last Friday's "Halftime Report" segment, Eugene Profit of Profit Funds told viewers: "Take a look at

American Express

(AXP) - Get Report

. I think the credit trends are improving, and this is a name we'd be heaving in." The

Fast Money's 4 Stock Buys for Right Now

portfolio includes

Broadcom

(BRCM)

and

Morningstar

(MORN) - Get Report

.

>> Who Owns American Express?: Warren Buffett

Fast Money's Options Plays

: The traders have noticed some unusual options action in a number of stocks, including

Stec

(STEC)

and

McAfee

(MFE)

. On Wednesday's "Halftime Report" segment, Jared Levy told viewers: "The volume of June 50 calls combined with positive chatter suggests to me that

Citrix

(CTXS) - Get Report

could make a share move higher." The

Fast Money's Options Plays

portfolio includes

Citigroup

(C) - Get Report

and

USG

(USG)

.

>> Who Owns Citigroup?: Prince Al-Waleed

Fast Money's Derivatives Trading Stock Plays

: Recently, exchange stocks such as

Nasdaq OMX Group

I:IXIC

soared higher on news that a deal had been reached on derivatives trading legislation. What's the trade? On Monday's "Fast Money" show, Pete Najarian told viewers: "Of all the exchanges, the

CME Group

(CME) - Get Report

has had the most reaction to news about derivative trading. I think they will see a boost." The

Fast Money's Derivatives Trading Stock Plays

portfolio includes

Intercontinental Exchange

(ICE) - Get Report

and

Morgan Stanley

(MS) - Get Report

.

>> Who Owns CME?: Blue Ridge Capital

Fast Money's iLoser Stocks

: Investors sold a number of

Apple

(AAPL) - Get Report

rivals in the wake of the tech giant's earnings. Were these selloffs warranted, or are some of these names now oversold? On Monday's "Fast Money" show, Tim Seymour told viewers: "I think

Google

(GOOG) - Get Report

is going to fall further. Goldman just removed it from their conviction buy list." The

Fast Money's iLoser Stocks

portfolio includes

Research In Motion

(RIMM)

and

Qualcomm

(QCOM) - Get Report

.

>> Who Owns Google?: Navellier & Associates

Fast Money's Housing Recovery Trades

: The traders are keeping a close eye on the homebuilders with the most recent Case-Shiller report likely to show home prices went up on an annual basis. On Monday's "Fast Money" show, Patty Edwards told viewers: "The home builders have already had a phenomenal run, so I don't think that's the way to play it. Instead I'd look at downstream trades such as

Plum Creek

(PCL)

." The

Fast Money's Housing Recovery Trades

portfolio includes

Weyerhaeuser

(WY) - Get Report

and

Owens Corning

(OC) - Get Report

.

-- Written by Roberto Pedone in Windermere, Fla.

RELATED LINKS:

>>Airline Industry Winners & Losers

>>Rocket Stocks for the Week

>>Karen Finerman's Portfolio

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