The market experienced wild swings during the trading session on Monday, eventually ending on an mildly positive note. And the team at CNBC's "Fast Money" had plenty of stock ideas ahead of Fed Chairman Ben Bernanke's speech.
First, they gave their individual takes on the day's headlines and stocks in the news.
Word on the Street
Billionaire Joseph Lewis disclosed a 7% stake in
. Guy Adami continues to pound the table on
he loved the price action on Monday and he believes the stock will climb to $200. Jeff Macke is a seller of Goldman into resistance. Karen Finerman maintains Goldman will take a hit this quarter. Najarian says to own Goldman into earnings and then get out. (
Take: Jim Cramer said recently, "Was this the Goldman Sachs rally? The stock was never down. It has been such a signal of the direction of the market. It has often signaled Fed change, Fed relenting and Fed softness." To read more on what Cramer said,
raised its sales outlook gaining one up on
Advanced Micro Devices
which had a Barcelona chip release. Najarian says buy Intel and AMD for global growth. Adami says trade AMD at your own risk.
Macke is long Intel and loves it as an investment, but as a trade he would take it off. (
Take: Jim Cramer said recently, "Have we gotten too complacent to the downside? Are we too negative about some stocks? I frankly think it is absurd that Intel is hardly up." To read more on what Cramer said,
will provide a midquarter update Tuesday after the bell. Adami likes the stock at these levels. Macke and Najarian are both nervous on TXN and would sell the stock. (
Take: Jim Cramer said recently, "Revenue up? You buy Texas Instruments." To read more on what Cramer said,
will release August same-store sales Tuesday before the bell. Finerman likes
over McDonald's. Macke says MCD is one of the best-run companies on earth and investors should add to positions on pullbacks.
traded higher ahead of a Morgan Stanley conference scheduled for Tuesday. Adami would buy LMT and
in the low $90s. He also likes
. Najarian says look at
for a play on technology in the defense industry.
reaffirmed 2007 and 2008 outlook at a Bear Stearns health care conference. Najarian says the Bear Stearns conference is one of the most important of the year and he favors stocks like
said it will independently test toys featuring its characters. Also, Toys R Us increased its safety check. Are we setting up for a Christmas toy disaster? If so, what is the trade?
Brian Shactman joined the crew to discuss the current issues with the toy companies. Shactman says the toy recalls won't hurt Christmas. Shactman spoke with the CFO of
who made three major points:
Mattel might take a charge for the quarter due to the third recall, the firm is completely revamping the way it inspects products, and Mattel plans to have toys on the shelves for Christmas. Macke says Mattel is a train wreck. He recommends getting short Mattel and getting long Disney,
Oil Outlook With Dennis Gartman
Oil traded within $2 of a record Monday right before a very important OPEC meeting Tuesday in Vienna. Is now the time to buy oil and oil related stocks?
Dennis Gartman author of
The Gartman Letter
joined the crew to discuss the prospects of the oil trade. Gartman believes that OPEC might surprise everyone and increase production. Gartman is long crude oil via
, but he is a bit nervous that the oil ministers from Saudi Arabia have been noncommittal with information. Gartman says if you want to be long the oil service sector start with
Private Equity Done?
Private Equity behemoth KKR has reportedly made concession to the banks financing its $26 billion buyout of
. This means KKR investors will likely make less money.
traded to a new all-time low Monday. Najarian says now Blackstone is at a level that is a buy and he also believes the put options are cheap if you need protection. Adami likes Blackstone down here Finerman says deals are now more likely to get done, and if you're short BX it might be time to cover. Macke disagrees and he thinks the big deals are done for the time being.
Monday's sector trade had the crew talking about gambling stocks. The stock of
is down 41% this year and on Monday the company reported horrible numbers with profits down 63%. The CEO of Shuffle Master, Mark Yoseloff, joined the crew to discuss the issues at his company. Yoseloff explained that the company is now leasing products and selling less and in the short term that is reducing results. However, in the long term he feels the lease revenue model will be a good one.
His timetable for seeing results is 18-24 months out. Adami wants to see what the Street research says on Tuesday, but if the stock trades 5 to 7 times normal volume then he believes it's worth a look.
Najarian would be a buyer of
Las Vegas Sands
for a play on growth in Macau. Macke says that
International Game Technology
appears to be making a bottom. He also likes
, which just built a Macau casino.
Pops & Drops
traded up 4% on news of the one millionth iPhone sale. Adami says it's hard for him to embrace the stock here. (
Take: Alan Farley recently said, "The failure of a failure that is, Apple's burst back above those support-resistance lines on Aug. 22 -- issued a strong signal that tells traders to buy all dips back to that price zone." To read more on what Farley said,
, which makes iPhone setup software, popped 6% on the iPhone news. Najarian says this stock will continue to pop.
traded up 5%. Adami says speculation of a buyout took this stock higher.
popped 4% on news of Food and Drug Administration approval for an anti-seizure drug. Finerman likes the pop.
popped 5%. Najarian says three times normal volume sent this stock higher today.
Happy 52-week high to
fell 2%. Macke says Macy's is in trouble so you should sell it.
dropped 5% after reporting a quarterly loss. Macke says don't touch these guys.
fell 4% on concerns of losses at the firms equity funds. Adami says this stock will continue down.
The crew wraps up with their trades of the day.
- Macke says if you're long the Retail Holdrs (RTH) - Get VanEck Vectors Retail ETF Report, sell it, and if you're an aggressive trader, short it.
- Adami likes Nymex as a takeover play.
- Finerman likes ConocoPhillips (COP) - Get ConocoPhillips Report for the long haul.
- Najarian recommends Dendreon (DNDN) because of the price action he saw Monday in the options and the stock. (RealMoney Take: Dan Fitzpatrick recently said, "I really like a trade in Dendreon, but only if you respect the volatility of this anaconda and keep a stop back in congestion." To read more on what Fitzpatrick said, click here.)
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