Tech Bubble: 8 Years Later
Monday marks the eight-year anniversary of the peak of the Nasdaq bubble. Which stocks from that run-up look best in this market?
Look at Microsoft , says Guy Adami, which is coming off two unbelievable quarters. The Yahoo acquisition came around and knocked this stock but it seems to me the Street has taken off too much market cap. I think it’s a buy with a 20-handle.
And I like Orcale into earnings , he adds. Find out why.
How about outside the tech sector?
If you want to play energy, I think you should do it in the natural gas space, Adami says. Look at Apache and XTO Energy . But don’t race into these stocks, he counsels, because you’re probably going to see downdrafts. Instead buy on the dips.
Also check out Burlington Northern . I think the rails have been a great story and they seem to have pricing power he says. This stock is probably a buy around $85.
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Trader disclosure: On Mar. 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 (INTC), (YHOO); Pete Najarian Owns (AAPL), (C), (CSCO), (MS), (MSFT), (XLF), (MCD), (BKC); Pete Najarian Owns (COP) Calls, (AMAT) Calls; Pete Najarian Owns (XLB) Puts, (USB) Puts; Pete Najarian Owns (YHOO) And (YHOO) Calls; Finerman Owns (GS); Finerman's Firm And Finerman Own (FLS), (HD); Finerman's Firm Owns (AAPL), (DVA), (FNM), (MSFT), (TSO), (WMT), (YHOO); Finerman's Firm Is Short (IYR), (IJR), (MDY), (SPY), (IWM), (COF), (RTH); Finerman's Firm Is Short (LEH) And Owns (LEH) Puts; Finerman's Firm Owned (DVA) On 12/17/07, 2/12/08, 2/26/08