Renegade Trade: Growing & Going Your Own Way
Ever wish your portfolio wasn't at the mercy of a schizophrenic market? We bring you the trades that go their own way. Read on for the renegade trade.
Jeff Macke says Del Monte (DLM) is the play if you want a name that is not correlated to the market and so therefore helps you diversify. It doesn't get much more boring than this, he says. They make cat food and dog food as well as regular food. This company cans food under the Del Monte label as well as under private labels and that supports Jeff’s strategy that the supermarket sector is a good place for your money. Del Monte, he says, trades at a 13 multiple and they’re a great takeover candidate. He says it’s solid.
Even though it's not traditionally thought of as a diversifying play, according to Guy Adami, Solar power, which is backed by Ted Turner, could be one. Evergreen Solar (ESLR) is a name that didn't feel the latest market correction at all. What's more: if the price of oil continues to go higher, it will see more demand for its services, says Guy.
Eric Bolling can’t believe what Guy is recommending. Although ESLR trades at $9 dollars Eric wouldn’t own it for 90 cents.
On MAR 7, 2007, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders. Strazzini Owns (HAL), (YHOO), Is Short (WCG) Bolling Owns (BP), (XOM), Gold, Silver, Soybeans, Is Short S&P Futures, Is Short Nasdaq Futures, Is Short Corn
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