The Following is a recap and review of the CNBC Hit Show Fast Money for February 27, 2007. The Madd Money blog also recaps The other hit CNBC show Mad Money every day. Enjoy investors!
Top 3- Bloodbath, Trading the Carnage, Bring Your Money Home
Adami made the comment that this selloff is not going to be done tomorrow and it will not be done next week either. He made bullish comments about iShares MSCI South Korea Index Fund (EWY) and ishares MSCI Taiwan Index Fund (EWT). Adami doesn’t see the weakness in the Chineese economy as everyone else does. Bolling wouldn’t be shorting into this down move right now. He also mentioned how the selloff was more orderly then in 1987. Bolling made sure to tell us that Gold and Oil didn’t get destroyed today and that is a tell tale sign. He was bullish on streetTracks Gold Trust (GLD) and CurrencyShares Euro Trust (FXE). Strazzini made some strange comments on how this market crash going to keep up for a month, but he feels it’s healthy. Strazzini feels the China correction was a good thing. Don’t jump back in. There could be more selling. It will eventually become a buying opportunity. He was bullish on MSCI Emerging Markets Index Fund (EEM) for the long term. Macke stated “it’s too late to buy puts.” He also stated that he didn’t notice anyone coming in to buy the market during the crash which goes against Cramer’s claims on Mad Money.
Correction Shopping List
Hedge Fund Comments from Karen Finerman
She wants us to watch the volatility index because it’s a signal of market fear. Hold off on buying until you see how this plays out. It’s time to make a shopping list but not time to buy anything yet. She was bullish on Flowserve Corporation (FLS) at $48, The Home Depot Inc (HD), and Ceridian Corporation (CEN). Adami was told us to put The Home Depot Inc (HD), Honeywell International Inc (HON) at $44, Apple Inc. (AAPL) at $78 and Johnson & Johnson (JNJ) on the shopping list. Bolling agreed with Finerman on FLS, but disagreed and was bearish on HD. Macke told us to put Intel Corporation (INTC) in the upper teens, Activision Inc (ATVI) at $16.50, The Home Depot, Safeway Inc (SWY) at $30, and Target Corporation (TGT) between $50 - $55 on the shopping list. Strazzini told us to add AstraZenaca PLC (AZN), The Kroger Co. (KR), AXA (AXA), The American Express Company (AXP), and The Procter & Gamble Company (PG) to the shopping list.
Word on the Street
Adami is still bearish on housing stocks. Strazzini made us aware of the fact that the chip stocks were up today. He is bullish on STMicroelectronics NV (STM), LSI Logic Corporation (LSI), Analog Devices Inc (ADI), and Semiconductor HOLDRs Trust (SMH). Macke is bullish on Radio Shack Corporation (RSH) and he wants us to buy on a dip. Bolling is bullish on Wynn Resorts Limited (WYNN), but shorter-term he is bearish. He really likes the refiners like Marathon Oil Corporation (MRO).
Happy 52 Week High to Church & Dwight Co. CHD
Face2Face
A viewer asked about buying copper? Bolling would sell copper and buy Gold. Another viewer asked about CVS Corporation (CVS)? Strazzini called CVS okay, but he was also bullish on The Walgreen Company (WAG). Another viewer asked about Caterpillar Inc (CAT)? Adami thinks it’s over valued and you can buy it cheaper later in the year. Another viewer asked if this market crash is like the 2000 crash? Macke thinks now is different. He would make a shopping list of stocks you like and pick them up 10% below current market price.
The Final Trade
Macke told us to make a list and check it twice. Strazzini is bullish on STMicroelectronics NV (STM) and AXA (AXA). Adami told us to buy Johnson & Johnson (JNJ) at $61.50. Bolling is bullish on CurrencyShares Euro Trust (FXE).