Brocade is Fast Money best Trade Today

Published on Thursday, 02 September 2010 12:57 Written by Gerard Lerod

New York, September 2nd (TradersHuddle.com) - Currently the Fast Money trades are performing with the S&P 500 that is trading higher, with all of trades recommended on the show on positive territory.

Jon Najarian recommended long Brocade (NASDAQ:BRCD) on havey call volume, and today is the best performer among the Fast Money Final trade recommendations, with the stock trading at $5.59 representing 7.71% versus the previous trading session. Shares of Brocade, the provider of switching solutions for storage area networks have defined support at $4.64 and resistance at $4.92.

Brian Kelly suggested long Cosan Ltd (NYSE:CZZ) to play the rally in sugar, and today is trading at $11.33 representing 3% from its previous close. Cosan has calculated support and resistance levels at $9.78 and $10.83 respectively.

Guy Adami suggested long CME Group (NASDAQ:CME). CME Group, is trading at $261.54 or 2.05% from the previous close. Shares of CME Group, the largest futures exchange operator have defined support at $234.50 and resistance at $257.79.

Tim Seymour suggested long Transocean (NYSE:RIG), as he believes that its a takeover target on valuation, and today is trading at $54.6 representing 0.5% from its previous close.

Steve Cortes believes the Dollar is in trouble and he is getting long the Euro via the CurrencyShares Euro Trust (NASDAQ:FXE), today the FXE is fractionally higher as there is some Dollar Weakness.