Pros’ Picks Amid Dow’s 3rd Record Day
Online Producer
As the Dow Jones Industrial Average hit a new high for the third day in a row, the "Fast Money" traders named a few stocks to buy on a pullback.
OptionMonster's Pete Najarian said Thursday that his top pick was Amgen, with a forward P/E of 11.
Rounding out his top three were Disney ("I'd like to get it a little cheaper," he said) and JPMorgan ("If we pull back, that name's going to go a lot higher") along with the financial sector in general.
Rosecliff Capital's Mike Murphy also liked a banking name.
"I think one of the first names I would look at is Goldman Sachs," he said.
Google on a "40- or 50-point pullback" was also attractive, Murphy added. "I'd love to get in there."
In the housing sector, he said that a pullback in one name was a "go" signal.
"You can load the boat on Lennar," he added.
Josh Brown of Fusion Analytics lamented one name he didn't own.
I'm borderline suicidal that I'm not in Google," he said. "I can't believe I've missed this trade."
Google stock, which has hit several new highs, traded around $836 per share midday.
In the $700 range, Brown added, "I'd be all over it."
Brown said he also liked Pfizer on a pullback, as well as Lowe's.
"Home Depot is such a huge winner, and I think Lowe's has the potential to catch up," he said. "So if that thing got hurt in a broader market selloff, I think the fundamentals there are solid, and I would be a buyer of that one as well."
Trader disclosure: On March 7, 2013, the following stocks and commodities mentioned or intended to be mentioned on CNBC's "Fast Money" were owned by the "Fast Money" traders: Stephanie Link is long AAPL; Stephanie Link is long GS; Stephanie Link is long CSCO; Stephanie Link is long SBUX; Stephanie Link is long FB; Pete Najarian is long AAPL; Pete Najarian is long C CALLS; Pete Najarian is long JPM CALLS; Pete Najarian is long CSCO CALLS; Pete Najarian is long YHOO ; Pete Najarian is long BBRY ; Pete Najarian is long SBUX; Pete Najarian is long FB; Pete Najarian is long MSFT; Pete Najarian is long DELL; Mike Murphy is long BAC; Mike Murphy is long FB; Mike Murphy is long TOL; Josh Brown is long AAPL; Josh Brown is long BAC; Josh Brown is long GS; Josh Brown is long GLD; Josh Brown is long TLT; Josh Brown is long XLF; Josh Brown is long WMT; Josh Brown is long TGT.
