Did apple ring in the top of this market?

Did Apple ring the bell for the top of this market? That’s the question perplexing the Fast Money desk after a string of tech names failed to dazzle. In extended trade, the gang was faced

with a plummeting eBay, a diving Netflix and an even worse Qualcomm – with all the weakness triggered by disappointing results. That after Yahoo! and AT&T dragged down stocks during the

session. Take a look at what crossed after hours: - EBAY Ebay shares tumbled as much as 8% in late trading after the company's profit outlook for the current quarter fell far short of

estimates and it handed in a full-year outlook that also disappointed. For more coverage of eBay earnings click here - QUALCOMM Although Qualcomm beat expectations, the company gave a weak

outlook for the current quarter and the year, sending its shares down more than 8%. For more coverage of Qualcomm earnings click here - NETFLIX After the bell Netflix posted higher

first-quarter profit on Wednesday, beating Wall Street's expectations, but its shares seesawed after hours as revenue disappointed some investors. For more coverage of Netflix earnings

click here What should you make of it? STRATEGY SESSION WITH THE FAST MONEY TRADERS It seems to me that in-line earnings just aren’t strong enough for this market, says Pete Najarian. If you

can’t knock the cover off the ball, the Street will take your stock down. But that doesn't mean investors should run for the exits. The action in this market makes all the sense in the

world to me considering so many stocks -  such as Freeport - have experienced huge runs. I believe the market is at an inflection point, counters Joe Terranova. Personally I expect risk to

be taken off the table. I'm seeing inventories build, contango coming into the market and Europe shutting down. All that points to a pullback. Not a deep dive but a pullback. I agree

that the market is exhausted says Tim Seymour. Yes I think there’s reason to take profits but no, I don’t see a need to run for cover. I think weakness in the market stems from the eBay

results, muses Gary Kaminksy. They took down guidance significantly and I think investors are taking profits now and asking questions later. If you're looking for a trade put Neflix on

the radar, says Brian Kelly. If you dig down in the report, you’ll see full year guidance is actually _higher._ ----- AFTER HOURS ACTION: STARBUCK Earnings news wasn’t all bad. On Wednesday

Starbucks reported a profit that topped analysts' views and boosted its 2010 profit forecast as a healing U.S. economy brewed up an increase in customer visits and sales. Shares of the

company rose about 1 percent on the news. Looking more closely at the numbers, Starbucks' net income jumped to $217.3 million, or 28 cents per share, for the fiscal second quarter, from

the year-ago quarter's profit of $25 million, or 3 cents a share. WHAT’S THE TRADE? If the stock breaks above $26, technically it's a break out signal, says Brian Kelly. > For

more coverage of Starbucks earnings click here ----- BREAKING NEWS: GOLDMAN FRAUD CHARGES COINCIDENTAL In breaking news, host Melissa Lee tells the desk that SEC Chair Mary Schapiro issued a

statement effectively saying the charges brought against Goldman were not politically motivated. The release triggered questions on the desk with Gary Kaminksy wondering why Schaprio would

make that kind of statement – unless it was, in fact, politically motived. Though many of the traders on the desk see the comments as a sign that the SEC doesn't have much of a case

against Goldman, Anthony Scaramucci of Skybridge reamins cautious. I’d be very worried if I were inside Goldman, says Scaramucci. You can’t be in a lawsuit with your regulator and not be

concerned. ______________________________________________________ Got something to to say? Send us an e-mail at [email protected] and your comment might be posted on the _Rapid Recap.

_If you'd prefer to make a comment but not have it published on our website send those e-mails to . _Trader disclosure: On Apr 21, 2010, the following stocks and commodities mentioned

or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Terranova Is Short June 2010 Crude Oil; Terranova Is Long December 2011 Crude Oil; Terranova Is Short

Australian Dollar; Terranova Is Short Japanese Yen; Terranova Is Short Gold; Terranova Is Short (PCLN); Terranova Is Short (BRE); Terranova Is Long Japanese Yen; Terranova Owns (C), (XCO),

(SWN), (TER), (HES), (AXP), (XCL); Terranova Owns (C) May Calls; Scaramucci Owns (GS), Skybridge Owns (GS); Najarian Owns (C) Calls;Najarian Owns (CLF) Call Spread; Najarian Owns (GLW) Call

Spread; Najarian Owns (MRVL); Najarian Owns (UNP); Najarian Owns (YHOO) Call Spread; Kelly Owns (CXW) Calls; Kelly Owns (FXE) Puts; Scaramucci Owns (CIT), Skybridge Owns (CIT)_ For Joe

Terranova _Terranova Works For (VRTS) Terranova Is Chief Market Strategist Of Virtus Investment Partners, Ltd. Virtus Investment Partners Owns More Than 1% Of  (XLU) Virtus Investment

Partners Owns More Than 1% Of  (IGE) Virtus Investment Partners Owns More Than 1% Of (XLY) Virtus Investment Partners Owns More Than 1% Of  (DBV) Virtus Investment Partners Owns More Than 1%

Of (XLP) Virtus Investment Partners Owns More Than 1% Of  (XLB) Virtus Investment Partners Owns More Than 1% Of  (XLV) Virtus Investment Partners Owns More Than 1% Of  (XLI)_ For Mike Khouw

Cantor Fitzgerald  & Co. Is A Market Maker In (MSFT) For Brian Kelly Kanundrum Capital Is Short (STT) Kanundrum Capital Is Short (MCO) Kanundrum Capital Is Short (DB) Kanundrum Capital

Owns (SRCL) Kanundrum Capital Owns (CCI) Kanundrum Capital Owns (S) Kanundrum Capital Owns (SRCL) Kanundrum Capital Owns (MORN) Kanundrum Capital Owns (RAX) Kanundrum Capital Owns (TLT)

Kanundrum Capital Is Long U.S. Dollar Kanundrum Capital Is Short Euro Kanundrum Capital Is Short Yen Kanundrum Capital Is Short Swiss Franc Kanundrum Capital Is Short (EWH) For Jared Levy

Peak6 Investments Is Long And Has An Options Position In (GS) Peak6 Investments Is Long And Has An Options Position In (JPM) Peak6 Investments Is Long And Has An Options Position In (BAC)

Peak6 Investments Is Long And Has An Options Position In (CBI) Peak6 Investments Is Long And Has An Options Position In (WFC) Peak6 Investments Is Long And Has An Options Position In (AAPL)

Peak6 Investments Is Long And Has An Options Position In (LLTC) Peak6 Investments Is Long And Has An Options Position In (TXN) Peak6 Investments Is Short And Has An Options Position In (MS)

Peak6 Investments Is Short And Has An Options Position In (XLF) Peak6 Investments Is Short And Has An Options Position In (MCO) Peak6 Investments Is Short And Has An Options Position In

(STT) Peak6 Investments Is Short And Has An Options Position In (RIMM) Peak6 Investments Is Short And Has An Options Position In (BRCM) Peak6 Investments Is Short And Has An Options Position

In (SWKS) Peak6 Investments Is Short And Has An Options Position In (FCX) Peak6 Investments Is Short And Has An Options Position In (EBAY) Peak6 Investments Is Short And Has An Options

Position In (AMZN) Peak6 Investments Is Short And Has An Options Position In (SBUX) Peak6 Investments Is Short And Has An Options Position In (SRCL) Peak6 Investments Is Short And Has An

Options Position In (QQQQ) _For Mark Mahaney Citigroup Global Markets Or Affiliates Owns 1% Or More Of (NFLX) Citigroup Global Markets Is A Market Maker In (NFLX) Citigroup Global Markets Or

Affiliate Received Non-Investment Banking Compensation From (AMZN) In Past 12 Months (AMZN) Is Or In Past 12 Months Was A Client Of Citigroup Global Markets (Non-Investment Banking,

Securities-Related Services) Citigroup Global Markets Is A Market Maker In (AMZN) Citigroup Global Markets And/Or Affiliates Has A Significant Financial Interest In Relation To (AMZN)_

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