Fast Money Recap June 7

• Today the indices were up for the first 1 hour but then they just rolled over and kept going down all day
• Tomorrow markets will most probably open higher but if selling starts it will be similar to today
• DOG, SDS are short ETFs on Dow and S&P respectively
  
• Get out of XLU and look for a lower entry point or when market is better
• Telecom sector is affected by interest rates so wait
• There is a buying opportunity to get into Banks especially GS
• Get out and stay away from homebuilders
• Commercial REITs like PSA might be a good play
• Both S&P and NASDAQ are sitting at 50-day MA. Support on S&P is 1470-1490. Nasdaq 100's first support level is 1880 and the second is around 1740.
• Use rallies to sell
• Stocks going on sale: MSFT, JNJ ($60 bottom), DVY, PID, MS, GS
• Have to own AAPL, T, GOOG, BIDU, NVDA, AMD
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