Word On The Street
plunged 250 points on Friday as a weak jobs report put control back into the hands of the bears. Pete Najarian says volatility is here to stay for a little longer. Guy Adami says the good news is we're not coming off huge valuations, but the bad news is the trend is still lower. Karen Finerman says we have multiple shoes to drop out there and traders need to trade around the tape. Jeff Macke continues to say sell until you can sleep.
Adami thinks this quarter will be a record for
. Finerman disagreed, and Macke said they better have record earnings. (RealMoney Take: Jim Cramer said recently, "Nimble people should ring the register. Sell the Goldman and the
and buy 'em back later." To read more on what Cramer said,
Energy service stocks broke out on Friday as crude oil continues to climb. Najarian says he likes
. Adami says he is still very bullish on energy here, and Macke said sell crude.
Carter Worth, the chief market technician at Oppenheimer, joined the crew to discuss the action in gold. Worth says the charts are telling him that gold is going higher and he likes
. Adami agrees with Worth, but says be cautious because he thinks a rate cut is already priced into this sector.
The U.S. dollar sank amid fears from the weak jobs report. Adami says if you want to play the weak dollar, buy
reported record average daily volumes of 3.68B shares in August. Najarian says Goldman Sachs will have a monster quarter off of trading volumes. He also favors
. Adami says buy NYSE on dips. (RealMoney Take: Steven Smith recently said, "Options in the New York Mercantile Exchange and the NYSE_Euronext are also likely to be active, as the rumors of the latter acquiring the former take on more credence." To read more on what Smith said,
The India growth story continues, and fast money can still be made. Najarian says play India by getting long
has had a tough time all year trending down, but a key FDA ruling is in store for the largest biotech next week. Can the stock recover?
pharmaceuticals reporter Mike Huckman joined the crew to discuss the prospect for Amgen and the rest of biotech. Huckman says investors will not know until a FDA vote on Tuesday if a key Amgen anemia drug will have restrictions. Huckman says investors should watch
Najarian is bearish on Amgen, but he favors
. (RealMoney Take: Jim Cramer said recently, "Genentech and Amgen have bottomed too, and it looks
is in play." To read more on what Cramer said,
a government-sponsored corporation which was created to support lending to home buyers, traded up on Friday while the rest of the financials went down. What is the reason, and what is the trade?
Najarian says that statements from Hank Paulson on Friday took the stock up. Paulson said he was talking with Fannie Mae and
about the problems they face and how they can be fixed. Finerman says now is a good opportunity for both firms, because they can both go in and be a buyer of paper with decent spreads. She wouldn't buy yet, saying she wants to see panic first. Najarian says he would be a buyer of both stocks, and Macke agreed.
How Low Will The Fed Go?
After a disastrous jobs report on Friday the Fed now has even more reason to cut rates at the next meeting on Sept. 18. The futures markets are pricing in a 75% chance that the Fed will cut by half a percentage point.
Macke says the Fed will cut a half, and it won't help. Short the financials on this news. He feels the rate cut is in the market. Finerman says a cut doesn't matter, and other news will play a bigger part. Adami would rather see a 25 point cut.
Pops and Drops
traded up 3%. Finerman loves the story.
traded up 3%. Macke says the company will be just fine.
popped 4% as gold climbed past $700. Adami still likes the stock, and he thinks it's going to $115.
fell 10% after cutting earnings guidance. Najarian says stay away.
dropped 7% this week after announcing plans to give in-store credits to early buyers of the iPhone. Najarian says they will survive. (RealMoney Take: Cody Willard said recently, "I write on why AAPL and
remain the best plays on the coming disruption of the wireless carriers." To read more on what Willard said,
plunged 41% after its quarterly results. Finerman says that it's a bear market for the stock.
fell 12% after disappointing on earnings. Macke says if you're expecting a bounce, forget it.
fell 1% on a negative court ruling. Najarian says don't worry.
dropped 3% after a negative note from UBS on the company. Adami likes the stock and he likes that Carl Ichan is dipping his toe in the name.
fell 8% on bearish comments from the CEO. Finerman says she likes the stock at this valuation.
dropped 7%. Macke says he told you to sell earlier this week.
fell 5% after disappointing August sales numbers. (RealMoney Take: Jim Cramer recently said, "GM's cutbacks are daunting." To read more on what Cramer said,
Quicker Than the Ticker
On Aug. 24 Najarian recommended
. He was right and the stock has gone up 6% since his call. On Sept. 5 Finerman picked Kraft. She was right, and Kraft went up 3% the next day. On Sept. 6 Macke recommended selling
at $100. He was dead on and the RTH fell 2%. On Sept. 5 Adami said buy Biogen. Adami was right, and the stock went up 6% the next day.
(RealMoney Take: Adam Feuerstein said recently, "There has been quite a buzz about Carl Icahn's interest in Biogen Idec. The financier received FTC clearance last week to buy more stock in the biotech firm." To read more on what Feuerstein said,
several times in August. Since his recommendation the stock has fallen 11%. Macke now says to buy Costco in the $50's and sell it in the $60's. On Sept. 5 Adami picked
. Since his call the stock has declined 6%. Adami admitted on Friday he was wrong on this call.
On Sept. 4 Finerman recommend getting long
. Since her call, the stock has gone down 18%, and she now says cut your losses and sell the stock. On Sept. 5 Najarian said get in
Research In Motion
. Since his call the stock has gone down 4%. He is standing by his call and he still likes the company.
Macke says sell the
New York Times
. Adami said short the Dow by buying
Short Dow30 ProShares
. Najarian recommends
as a play on the oil sands of Canada.