Money Where Their Mouth Is
Executives are buying large quantities of stock in their own companies despite the recent market turmoil. What do they know that you don’t?
Check out American Eagle , says Karen Finerman. Chairman Jay Schottenstein recently bought a lot of stock in his company, and that intrigues me. Typically insiders buy for one reason, she explains, because they think their stock is going higher.
Or look at Chesapeake Energy , adds Pete Najarian. The CEO bought 400,000 shares of this natural gas company, bringing his total stake to 2 million shares at an average price of $40 a share.
I prefer XTO Energy in the space, counters Guy Adami.
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Trader disclosure: On Mar.11, 2008, the following stocks and commodities mentioned orintended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders: Pete Najarian Owns (AAPL), (AMAT), (BIIB), (C), (CSCO), (MS), (MSFT), (NOK), (XLF), (YHOO), (CPHD); Pete Najarian Owns (AA) Calls, (COP) Calls; Pete Najarian Owns (FNM) Puts; Finerman Owns (GS); Finerman's Firm Owns (AAPL), (AEO), (FNM), (GE), (JCP), (MO), (MSFT), (TSO), (VLO), (WMT), (YHOO); Finerman's Firm Is Short (IYR), (IJR), (MDY), (IWM); Finerman's Firm Is Short (LEH) And Owns (LEH) Puts; Seymour Owns (CFC), (CSCO), (INTC), (MBI), (MSFT), (S), (TMA), (TSO), (TSM); Seygem Asset Management Owns (VIP); GE Is The Parent Company Of CNBC