'Fast Money' Portfolios of the Week

The 'Fast Money' crew has recently highlighted trading ideas that play off oversold tech stocks, personal health trend stocks and more.
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By Roberto Pedone

WINDERMERE, Fla. (

Stockpickr

) -- The traders of

CNBC's

"Fast Money" think a bear market could be creeping into the picture after the

S&P 500

hit an eight-month low. The crew is also concerned about a close on the S&P below the key technical level of 1040. On Wednesday's "Halftime Report" segment, Steve Grasso said traders on the floor are still extremely negative. He mentioned that Tuesday was the first time this year that the market closed below 1050, which is bearish action. Grasso advised viewers to sell into any strength.

Joe Terranova told viewers that he's watching the 1025 level on the S&P. He thinks a drop below that critical level means the chart looks broken. Terranova said it will be very difficult for the market to establish any trend for the next quarter.

Brian Kelly said he's bearish on the market and he'd use any rally as an opportunity to take profits. Patty Edwards said she doesn't like the market either. However, she said, despite her negative outlook, you can still find opportunities if you pick and choose.

The "Fast Money" crew has recently highlighted trading ideas that play off oversold tech stocks, personal health trend stocks and stocks with unusual options activity. Here are some highlights from over the past week as aggregated from the show.

Fast Money's Opportunities in a Terrible Tape

: Despite the negative market action, the traders are finding opportunities in sectors such as

natural gas

and gold. On Tuesday's "Halftime Report" segment, Cater Worth told viewers: "What's working are the Gold miners. The

Market Vectors Gold Miners ETF

(GDX) - Get Report

is toying with well-defined tops, and the presumption is that it exceeds those tops and breaks out." The

Fast Money's Opportunities in a Terrible Tape

portfolio includes

Corning

(GLW) - Get Report

and

Berkshire Hathaway

(BRK.B) - Get Report

.

Fast Money's Tech Pullback Opportunities

: The traders see opportunity in tech stocks such as

Yahoo!

(YHOO)

and

Apple

(AAPL) - Get Report

after the sector shed 4% in just one day. On Tuesday's "Fast Money" show, Piper Jaffary analyst Gene Munster told viewers: "I'd also look at

Baidu

(BIDU) - Get Report

despite the high valuation. China is one of the fastest-growing advertising markets in the world, and Baidu has a very strong big brother in Beijing." The

Fast Money's Tech Pullback Opportunities

portfolio includes

Research In Motion

(RIMM)

and

Akamai Technologies

(AKAM) - Get Report

.

Fast Money's Personal Health Trend Trades

: The crew has identified some personal health trend stocks such as

Orexigen Therapeutics

(OREX)

and

Vivus

(VVUS) - Get Report

that are at the cutting edge of medicine and more. On last Wednesday's "Fast Money" show, Guy Adami told viewers: "The trade is long

Intuitive Surgical

(ISRG) - Get Report

, they're the maker of the state-of-the-art DaVinci System -- the most widely used robotic surgical device. This may not be the best time to establish a long position in ISRG; however, it's definitely a name for the radar." The

Fast Money's Personal Health Trend Trades

portfolio includes

Arena Pharmaceuticals

(ARNA) - Get Report

and

Medicis Pharmaceuticals

(MRX)

.

Fast Money's Options Action

: The traders highlighted some options trades and unusual options activity in stocks like

P.F. Chang's China Bistro

(PFCB)

. On Tuesday's "Fast Money" show, Pete Najarian told viewers: "

Intel

(INTC) - Get Report

is another name to put on the radar. As far as I can tell from the options activity, investors are looking for upside." The

Fast Money's Options Action

portfolio includes

iShares Lehman 20 Year Treasury Bond ETF

(TLT) - Get Report

and

SPDR S&P 500 ETF

(SPY) - Get Report

.

Fast Money's AG Stock Trades

: After being hit by massive selling pressure over the last three months, traders bid up a number of the ag stocks recently following a bullish Department of Agriculture report for corn and soybeans. How should you play the space? On Wednesday's "Halftime Report" segment, Joe Terranova told viewers: "

Agrium

(AGU)

and

Intrepid Potash

(IPI) - Get Report

are underperforming. If you're going to play the space be extremely selective." The

Fast Money's AG Stock Trades

portfolio includes

Monsanto

(MON)

and

Potash

(POT)

.

-- Written by Roberto Pedone in Winderemere, Fla.

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