No.1 - Global Growth Godzillas
Last week's sell-off was really just another battle between two huge forces in this market. We call the phenomenon King Kong - that's financial distress - versus Godzilla, or global growth. Last week’s bout went to King Kong as credit worries threw Godzilla and globalization to the mat. But this week Treasury Secretary Paulson heads to China to talk trade. How will this struggle end?
Eric Bolling says China is a juggernaut and he recommends owning iShares FTSE/Xinhua China 25 Index (FXI) as well as the CurrencyShares Euro Trust (FXE).
Guy Adami prefers American companies that will benefit from global exposure such as Hewlett Packard (HPQ), Boeing (BA) UTEK Corp. (UTK).
Jeff Macke agrees that the trade is to get long American companies that deal with China such as Honeywell (HON).
Pete Najarian likes United Technologies (UTX) as well as China Mobile (CHL) and China Unicom (CHU).
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Trader disclosure: On July 30th 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 (JWN), (INTC); Najarian Owns (UA), Bolling Owns (XOM), Gold; Bolling Is Short (FXI); CNBC Is A Service Of NBC Universal And Dow Jones