With recession and correction calls mounting every day, where should you look for winners?
You might have heard about the movie “There Will Be Blood,” says Dylan Ratigan, but do you know about the Morgan Stanley 2008 outlook report of the same name?
In the event of a recession Morgan Stanley suggests investors be short Best Buy (BBY), consumer electronics, Caterpillar (CAT) and cyclical building materials and be long Coke (KO) and Phillip Morris (MO) explains Ratigan.
I agree with that, says Karen Finerman.
I wouldn’t short CAT at current levels adds Guy Adami.
Maybe walk away from Best Buy, Macke adds, but don’t short it.
"Cokes, smokes and drugs," that’s what I’d recommend says Pete Najarian
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Trader disclosure: On Jan 7, 2008, 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 (ATVI), (INTC), (YHOO); Najarian Owns (MCD), (N), (ISIS); Najarian Owns (SYY) Options, (VLO) Options, (YHOO) Options, (AAPL) Options; Finerman's Firm Owns (CROX), (GS), ( HD), (VLO), (YHOO), (DVA); Finerman's Firm Is Short (IJR), (IYR), (SPY), (IWM), (SPG), (TCO); Finerman's Firm Owns (MDY) Puts And Is Short (MDY); Finerman's Firm Owns (MSFT) Options; Finerman's Firm Owns S&P 500 Puts; Finerman's Firm Owns Russell 2000 Puts