By Stockpickr Staff
Posted on May 27, 2009


The traders of CNBC’s “Fast Money” have been suspect of the market rally, especially the rally that occurred on Tuesday after the market reacted positively to the consumer confidence numbers. Tim Seymour told viewers not to get excited about Tuesday’s rally, because at some point the fundamental data may not back up the way consumers feel. He also mentioned it was hard to buy into the consumer confidence thesis, considering the turn of events in North Korea and the disappointing housing price report.

Karen Finerman was baffled about the move. She said it didn’t make sense to see a rally sparked by consumer confidence, because it’s just a measure of how people feel. Guy Adami believes the market is simply going to stay in a sideways trading pattern like it has been in for the past two months. Joe Terranova cautioned viewers not to fight the market momentum, even though the fundamentals are not there to support the move higher.

The panel recently highlighted trading ideas that play off of warm weather, tech stocks and oil stocks. Here are some highlights from over the past week as aggregated from the show.

Fast Money’s Warm-Weather Stock Picks: The traders came up with a number of ways to play the fast-approaching warm summer weather. On last Thursday’s “Fast Money” show, Steve Grasso told viewers: “I’d look at Occidental Petroleum (OXY) or Suncor (SU) as plays on higher gas prices during the summer driving season.” Fast Money’s Warm-Weather Stock Picks include Molson-Coors (TAP) and Target (TGT).

Dennis Gartman’s Pairs Trades: If you’re looking for a pairs trade, the crew came up with a number of ideas. On Tuesday’s “Fast Money” show, Dennis Gartman, author of The Gartman Letter, told viewers: “I’m long Andersons (ANDE) and short Archer Daniels Midland (ADM).” Dennis Gartman’s Pairs Trades include Petroleo Brasileiro SA (PBR) and Goldman Sachs Group (GS).

Fast Money’s Oil Trade: Is it time to jump back into the oil sector, with crude oil pushing above $60 a barrel? On last Thursday’s “Fast Money” show, Tim Seymour told viewers: “In the space, if you’re looking for a trade, look at ConocoPhillips (COP).” Fast Money’s Oil Trade includes Suncor (SU) and BP (BP).

Fast Money’s Summer Breakout Stocks: Are stocks ready to break out or break down this summer? The traders have some ideas. On last Friday’s “Fast Money” show, Dan Fitzpatrick of StockMarketMentor.com told viewers: “The semiconductor sector is up 21% since the low but compared to most other sectors that’s nothing. Patterns in this chart suggest it could move to the upside.” Fast Money’s Summer Breakout Stocks include Energy Select Sector SPDR (XLE) and SPDR S&P Homebuilders (XHB).

Fast Money’s Tech Stock Picks: The crew sees opportunity in playing the technology sector. On Tuesday’s “Fast Money” show, Guy Adami told viewers: “I’d look at Red Hat (RHT). There’s speculation that IBM (IBM) might be interested in this company as a takeover target.” Fast Money’s Tech Stock Picks include Nokia (NOK) and Intel (INTC).