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Jon Merriman, CEO of Merriman Curhan Ford & Co joins the panel for this conversation. Following is a summary of his main points.
It’s worth noting that Merriman correctly predicted the bear market in financials last time he was on Fast Money which was December 12, 2007. At the time he said that financials should continue to fall until the market saw some significant dividend cuts.
Now that we've seen dividend cuts in Citigroup [C
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] and Washington Mutual [WM
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], he is less bearish on the group although he doesn’t see much upside either.
Instead, with interest rates going lower, he's turning his attention to beaten down tech and small cap names which tend to perform better in a rate cutting cycle.
Merriman’s Trades:
Taser [TASR
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] – This is a fast growing but controversial company with a viable solution to conventional guns. The stock should return to its recent highs of $18, Merriman speculates because they ended a number of lawsuits, they’re booking big clients and they have a new management team, .
Coinstar [CSTR
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]- They make coin counting machines, explains Merriman. Not only are they are beating numbers but they’ve entered a big deal with Wal-Mart. He thinks this stock could jump as much as 100% in one year.
Energy Conversion Devices [ENER
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] – This is a lesser-known clean tech play which recently beat numbers. Because the environment is becoming a larger priority no matter the economy, Merriman speculates this stock should return to it’s highs around $40.
Of these three stocks I like EMER most, says Pete Najarian. And TASR scares the life out of me.
Read More:
Check out what Jon Merriman said the last time he was on Fast Money in “Run from the Banks.”
Check Out These Other Posts |
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Trader disclosure: On Feb.12, 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), (ATVI), (DIS); Najarian Owns (BIIB), (C), (CSCO), (MS), (MSFT), (NOK), (XLF), (YHOO), (MCD); Najarian Owns (AAPL) Calls; Najarian Owns (FRE) Puts; Finerman Owns (GS); Finerman's Firm And Finerman Own (HD); Finerman's Firm Owns (MSFT), (TSO), (VLO), (WMT), (YHOO), (AAPL), (GE), (DVA); Finerman's Firm Is Short (SPY), (IWM), (IJR), (IYR), (MDY), (LEH), (LEN); Finerman's Firm And Finerman Own (CROX) And (CROX) Options; Finerman's Firm Is Short (LEH) And Owns (LEH) Puts; Jon Merriman’s Firm MCF & Co. Is A Market Maker In (CSTR), (ENER), (TASR)
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