Fast Money Recap June 26

• Choppy market, both NASDAQ and S&P500 settled below 50 day MA, on the downside look for 1475 in the S&P and 1850 in the NASDAQ
• BX was rich on valuation, more down side expected
• ORCL integrating acquisitions very well, performing well
• LEN disappointed, homebuilders not at the bottom yet
• TGT insiders are bailing
• Own refiners on the dip, west coast refiners include VLO (up 45% YTD PE 8), ALJ (up 76% YTD PE 14), WNR (up 120% YTD PE 13), HOC a bit rich so take profits
• NKE exploding after earnings, global growth story, some risk in endorsement deals in basketball, golf doing great, new driver introduced can be huge
• American Diabetes Association (ADA) conference going on, a number of names came out: AZN, BMY (Plaviz story), ISIS, BIIB, ELN
• Own oil may be through USO
• To play the volatility buy SPY July $151 call and July $149 put (strangle)
• Play on the immigration bill: EVC
• Final trade: GOOG, EMC, UARM, NKE