Wall Street Addict

Financials: Washington Mutual (WM) fell 16% on Wednesday after reporting that credit losses for the year could be as much as $2.9 billion. Adami concedes Goldman Sachs (GS) could trade down to $205 and that is where investors should look to buy it. Finerman likes Goldman and is currently long the company and short Lehman Brothers Holdings (LEH) and Merrill Lynch (MER). Najarian recommends State Street (STT). Morgan Stanley (MS) took a $3.7 billion write-down for the fourth-quarter.
Crude oil hit another record high on Wednesday trading up to $98.62. Addison Armstrong, Director of Market Research at Tradition Energy joined the show and said the long term trend is still bullish for oil. He sees that oil demand is strong and supply is very tight and the oil markets have zero margin for error right now. Najarian mentions the largest oil trader on the New York Mercantile Exchange told him that oil is the new currency and it's going to $150.
Consumer Trade
Same-store sales are set to be released for some of the biggest retailers on Thursday. Finerman likes that expectations are low and she still owns Wal-Mart (WMT) Adami declares the only way to play the retailers is with MasterCard (MA).
Word on the Street
American International Group (AIG) falls 3% after hours on a 27% drop in third quarter profits. Cisco Systems (CSCO) falls 9% after hours despite a 37% rise in first quarter profits. Research In Motion (RIMM) and Amazon (AMZN) bucked the market weakness to close higher on Wednesday. Adami mentions that Citigroup upgraded Allstate (ALL) and he would own it here for a trade, and stop out at $50. First Solar (FSLR) explodes up 22% after hours on a blowout quarter.
Pops & Drops
Pops - Potash (POT) traded up 2%.
Onyx Pharmaceuticals (ONXX) exploded up 18% after the drug company posted a third quarter profit.
DirectTV (DTV) traded up 3% after subscribers grew by 400,000.
TurboChef Technologies (OVEN) traded up 9% after the oven maker reported a smaller loss.
Drops - Fannie Mae (FNM) fell 10%
Ford Motor (F) fell 5% in front of earnings set for Thursday.
Yahoo (YHOO) fell 8% after Alibaba.com fell 17%.
Capital One (COF) fell 16% after warning on credit losses.
Fluor (FLR) fell 6% after missing Wall Street estimates.
Final Trade
Seymour thinks its payday with Gold Fields (GFI).
Adami's play is Short Dow30 Proshares (DOG).
Finerman still recommends being long Goldman Sachs (GS) and short Lehman Brothers (LEH).
Najarian likes green play Evergreen Solar (ESLR).

Labels: AIG, ALL, AMZN, CSCO, DTV, Fast Money Recap, FSLR, GS, LEH, MA, MER, MS, ONXX, OVEN, POT, RIMM, STT, WM, WMT