By Stockpickr Staff
Posted on May 14, 2009


The traders of CNBC’s “Fast Money” are ready to see the market sell off or simply take a breather. Guy Adami has been pounding the table on the S&P 500. He has reminded viewers a number of times that if the index closes below 900, it will probably trade toward 875. Karen Finerman thinks the market is due for a rest after screaming higher for several weeks.

Pete Najarian doesn’t see many opportunities in this market with rally leaders JPMorgan Chase (JPM) and Goldman Sachs Group (GS) starting to pull back. Dennis Gartman thinks the market was most likely overextended and needs to have a correction, possibly a serious one. He sees the Dow trading down to 7,900, which would represent a normal correction in a healthy market. Even if the market is finally ready to sell off, the crew is still finding pockets of strength and plenty of trading opportunities.

Recently, the panel recently highlighted trading ideas that play off of cancer drug stocks, emerging markets stocks and stocks with unusual options activity. Here are some highlights from the past week as aggregated from the show.

Fast Money’s Options Activity: The traders have spotted some unusual options activity in a number of stocks. On Tuesday’s “Fast Money” show, Pete Najarian told viewers: “I’m seeing bullish options action in Advanced Micro Devices (AMD). That stock could move higher.” Fast Money’s Options Activity includes Yingli Green Energy (YGE) and Zimmer Holdings (ZMH).

Fast Money’s Cancer Trades: Action is about to heat up in the pharma sector. How should you play it? On Tuesday’s “Fast Money” show, CNBC pharma reporter Mick Huckman told viewers: “Pharma investors are keeping an eye on ASCO and the website www.asco.org. New data about cancer treatments is coming out at 6 p.m. ET on Thursday that could move a slew of players.” Fast Money’s Cancer Trades include OSI Pharmaceuticals (OSIP) and Allos (ALTH).

Fast Money’s Rising Stock Stars: In a segment called “Rising Stock Star,” the traders reveal their favorite rising stocks. On Monday’s “Fast Money” show, Tim Seymour told viewers: “Trina Solar (TSL) is doubling their production, and they have a solid customer base across Europe. And it’s the first time in a long time that it’s been somewhat cheap.” Fast Money’s Rising Stock Stars include Natco Group (NTG) and Stillwater Mining Company (SWC).

Fast Money’s Emerging Trades in Emerging Markets: Is it time to look for investments in emerging markets? The traders think so. On Monday’s “Fast Money” show, Pete Najarian told viewers: “Keep an eye on Fluor (FLR) and McDermott (MDR). Those two firms are also plays on emerging markets.” Fast Money’s Emerging Trades in Emerging Markets include Mobile TeleSystems (MBT) and Halliburton (HAL).

Fast Money’s Consumer Staple Stock Picks: Money is starting to flow into defensive consumer staples stocks as market players look to find protection. On Tuesday’s “Fast Money” show, Karen Finerman told viewers: “I’ve been adding to my positions in this area lately. Valuations remain attractive.” Fast Money’s Consumer Staple Stock Picks include Kraft (KFT) and Wal-Mart (WMT).

Fast Money’s Trader Radar: In a segment called “Trader Radar,” the crew highlights stocks with unusual volume. On Tuesday’s “Fast Money” show, Melissa Lee told viewers: “On the trader radar tonight we’re watching CBS (CBS). The mass media company was among the most active names on the NYSE today.” Check out Fast Money’s Trader Radar