All Clear?

Strazzini: There are lots of ways and reasons this correction can continue.

Bolling: There will be a buying opportunity, it’s just not right now. Wait it out.

Adami: Not a convincing rally today. Wait for the other shoe to drop.

Macke: You want a selloff; I want a real correction!

Trading the Aftermath

Bob Pisani: This is not an emerging market meltdown! We are not going into a recession!

Strazzini: The mortgage problems are real. You can’t ignore yesterday…it was a global selloff.

Bolling: Again, wait this out.

Adami: BUY AAPL when you feel the market is all-clear.

Macke: We have more time for this market to correct.

Hedge Fund Shakeout

Bolling: A lot of these green hedge fund managers have never seen a real corection before.

Strazzini: The hedge fund industry will start showing cracks as the spreads dry up and inexperienced managers start making exotic trades. STay conservative in this market.

Adami: The brokers will get whacked and so will energy.

Asian SellOff

Jon Najarian: Asian markets don’t have the same liquidity as the US markets.

Bolling: Bit of a pullback in China but not major.

Najarian: You have to be willing to put up with major volatility when you are invested in China. I like the EEM. Be in it on a pullback.

Word on the Street

Bolling: Look at the chart for gasoline. Own Gas, own the refiners. TSO is a BUY.

Adami: MRK is a BUY.

Strazzini: BUY MRK!

Bolling: Own GLD, it has to be in your portfolio!

Macke: SELL LTD. Always sell any retailer who blames bad numbers on bad weather. OWN GPS!

Adami: Housing is going lower.

Macke: Dell needs to perform tomorrow and show a plan. The numbers are going to stink.

>>Happy 52 Week High to BBBB<<

Face2Face

Liz in IN– Where should I look in the retail market?

Macke: It’s too early to buy ANF, TGT. BUY GPS. GES is also a buy on dips.

Jolie in NY– Why wasn’t oil down yesterday?

Bolling: Everyone is expecting higher oil prices going forward. Oil is still a great investment.

Yvan in NH– Will the Pharma and Financial sectors correct faster due to better fundamentals?

STrazzini: MER and GS could be buys in the next couple of weeks. MRK and SNY are BUYS.

Bolling: MRK looks great, but stay away from the financial services sector for now.

Phil in ME– Is HON a buy?

Adami: HON is a BUY.

Late Breaking News: Credit Suisse offering $40BIL to higher bidders in TXU buyout war

Sector Trade: Banking

Karen Finerman: Whenever BAC trades to 10 times earnings, you have to buy it. There is upside in the stock. The same goes for C.

The Final Trade

Macke: BUY ATVI.

Strazzini: Look at XLNX and SMH. Short S.

Adami: S is a BUY.

Bolling: OIH is a BUY.