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Banking On The Big Picture

Wednesday, 6 Jun 2007 | 2:01 PM ET

Want to trade like pros? Then you need to think like the pros! In this feature we take the pulse of the economy and turn its vital signs into big picture trades. What can you expect from the next earnings season and how do you trade it?

CNBC Senior Economics Reporter Steve Liesman joins the guys for this conversation.

Fast Money Stockonomics
Steve Liesman, CNBC's sr. economics reporter, will present a case for significant earnings surprises this quarter

Steve says economists have upgraded their Q2 estimates which suggests to him that Q1 might have been the bottom. Consequently, he thinks earnings might be surprisingly strong, especially in areas that are expecting weakness such as financial services and consumer discretionary.

Jeff Macke tells the panel that the consumer isn’t dead. The CEO’s are just talking down the earnings.

Eric Bolling adds the world economy is raging. He predicts earnings coming in around 7%.

Pete Najarian agrees.

Dylan asks the panel, what’s the trade?

Jeff Macke says get long Zumiez (ZUMZ), Guess (GES) and Coldwater Creek (CWTR), because those companies are doing well, despite negative perceptions about consumer spending.

Eric Bolling says employment is strong and he likes steel, and commodity-based companies.

  Price   Change %Change
CWTR
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ALINS
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ZUMZ
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Got something to say? Send us an e-mail at fastmoney-web@cnbc.com and your comment might be posted on the Rapid Recap! Prefer to keep it between us? You can still send questions and comments to fastmoney@cnbc.com.

Trader disclosure: On June 5, 2007, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders: Macke Owns (EMC), (ATVI), (SWY), Bolling Owns (NMX), Sugar Natural Gas Futures; Bolling Is Short S&P Futures; Bolling Is Short Nasdaq Futures Najarian Owns (RACK), (OCPS), (ALVR);NBC Universal Is The Parent Company Of CNBC

  Price   Change %Change
CWTR
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GES
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ZUMZ
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  • Chief Market Strategist for Virtus Investment Partners & CNBC Contributor

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