The following is a recap/review of the CNBC hit show Fast Money for January 30th, 2007. Enjoy.
Front Page- Google Playbook, Carl Icahn on Motorola, Ride the Oil Roller Coaster..
Macke think that Google Inc (GOOG) is doing well and is a buy. Bolling thinks that Google is forming a double-top formation at $513. Bolling said buy only above $513 or at $450. Strazzini said consider selling the $510 call options on Google. Adami said if you want to speculate and risk losing all of your trade buy the $450 puts on Google which is a bet that stock goes down on earnings. Carl Icahn has recently taken a position in Motorola Inc (MOT). Macke doesn’t like MOT. Adami is bullish on MOT but would wait to buy it. Bolling thinks the chart on MOT looks horrible. Strazzini is bullish on oil and sees lots of upside ahead. Adami thinks the way to play oil is to buy ExxonMobil (XOM). Bolling is also bullish on oil and said to buy the USO and the OIH on any dips.
Take your Position
Macke gave us three picks for ways to play the retail sales. He likes Costco (COST), Guess?, Inc (GES), and Nordstrom Inc (JWN). Bolling likes the chart on JWN. The CEO of Jetblue Airways (JBLU) David Neeleman joined the guys on the phone to discus the companies earnings miss which sent the stock tumbling. David said the company has had a dramatic turnaround, but they expect a loss for Q1 in 2007. They are 45% hedged for oil right now. Expectations internally are that the company will absolutely make money in 2007. Adamil thinks the company is great but would not buy JBLU. Bolling thinks that JBLU isn’t hedged properly and would stay away. Macke doesn’t like the airline sector and would stay away.
Word On The Street
Bolling thinks that Bernanke statement will probably be same as last time. Bolling is buying gold ahead of the statement. Macke thinks it’s time to get out of Starbucks (SBUX). Strazzini was also bearish on SUBX. Adami is bullish on Black & Decker (BDK). Strazzini likes IBM (IBM) for a tech play.
Face 2 Face
A viewer asked about WCI Communites (WCI). Adami still likes the stock but wouldn’t pile into it here. Another viewer asked Bolling what he thinks of The Chicago Mercantile Exchange (CME). Bolling is bullish on derivatives based exchanges and he would buy CME. Strazzini is bullish on the NYSE Group Inc (NYX) for an exchange play. The last viewer asked about gold stocks. Bolling is very bullish on this sector and said to buy streetTracks Gold Shares Trust (GLD) and Goldcorp (GG). Bolling made the comments that he has his biggest holdings in gold ever.
Sea Change - Media War
Strazzini is bullish on Verizon Communications (VZ) and Texas Instruments (TXN). He is bearish on Qualcomm (QCOM). Bolling doesn’t like the chart on VZ, and if he was going to play media he would buy Nokia (NOK). Macke would buy some Apple Inc. (AAPL) here.
Final Trade
Adami is bullish on XOM. Bolling is bullish on Boston Scientific Corp (BSX). Macke is bullish on Costco (COST). Strazzini said buy the Pharmaceuticals.