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Following are some of the biggest mid-day movers.Find out what’s going up, what’s going down and whether our traders would double down, fade or run in the other direction!Weatherford dropped .The catalyst: There’s not clear catalyst for the weakness other than a growing belief that the enter energy sector may ahead of itself.The trade: “When the market fell off everything in the space came in,” says trader Steve Grasso. “I’d stay away because I think the market is coming in.”
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Nokia dropped .The catalyst: Moody’s downgraded Nokia's debt with a negative outlook, meaning the rating could be cut again.The trade: “It seems that Android and Apple own the space,” muses trader Brian Kelly. “I wouldn’t touch this stock.”
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Starbucks dropped .The catalyst: With share making new 52-week highs almost every day, investors may be starting to fear that when Starbucks reports earnings on April 26th the results won’t be strong enough to propel the stock any higher.The trade: Fundamentally it’s a great company but it’s making an outside down day,” says Joe Terranova. “If we close below $59.75, that’s bearish technically and I’d get out.”
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