Hotel and casino stocks have been slaughtered since the start of '08. How do you trade when travelers are tightening the money belt?
Since the beginning of the year, Starwood (HOT) is down 13%, Wyndham (WYN) has fallen 9%, Las Vegas Sands (LVS) sunk 27% and Wynn Resorts (WYNN) is down 13%, explains Dylan Ratigan.
I don’t think we’ve seen all the bad numbers come out of these stocks yet, says Karen Finerman. I wouldn’t get long, she counsels. But be careful, the market is moving swiftly. Don’t short these stocks either. Just walk away.
I think these stocks are being priced for recession, adds Jeff Macke.
Take a look at MGM (MGM) says Pete Najarian. Dubai is in that stock.
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Trader disclosure: On Jan 17, 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 (YHOO), (INTC); Pete Najarian Owns (BIIB), (C), (CSCO), (EBAY), (ETFC), (MS), (MSFT); Pete Najarian Owns (LEH) Puts; Pete Najarian Owns (AAPL) Calls, (AIG) Puts, (WM) Calls, (YHOO) Calls; Finerman Owns (GS); Finerman's Firm Owns (PLCE); Finerman's Firm Owns (MSFT) Options; Finerman's Firm Owns Russell 2000 Puts And Is Short (IWM); Finerman's Firm Owns S&P 500 Puts And Is Short (SPY); Finerman's Firm Is Short (IYR), (IJR); Finerman's Firm Is Short (MDY) Puts And Is Short (MDY); Finerman's Firm Is Short (LEH) And Owns (LEH) Puts; Finerman's Firm Is Short (HET) And Owns (HET) Puts; GE Is The Parent Company Of CNBC; Charles Schwab Is A Sponsor Of "Fast Money"; Jon Najarian is Short (MRK) and (SGP)