Upward momentum in the stock market appeared to be dwindling on Monday with the S&P posting a small gain and the Dow closing negative.But the Fast Money pros have spotted a slew of trading opportunities in this quiet market.
CHIP STOCK TRADESThe desk recommends watching chip stocks after Micron, Texas Instruments and others touched new highs.What’s the trade?In the options world, Pete Najarian sees enthusiasm for AMD as well as Micron and MIPS . And he says it makes sense. “Morgan Stanley is talking about 100 million tablets selling in 2012.” In other words if the tablet market is going to explode chip makers should benefit. (In case you're wondering Morgan Stanley believes ARM Holdings and SanDisk benefit most from the trend.)But he adds investors don’t have to pick an individual name. He's also a fan of playing the space broadly with the SMH.
------------FAST FLASH: NETFLIX The desk is watching Netflix, after the stock made new record highs and Caris & Co increased its price target on the company to $316 from $224, saying growing revenues will offset increasing costs of goods.
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