Guy:The steel sector was screaming today after falling off a cliff due to low ’08 consumption projections the past week. Does the Fed rate change affect these projections enough to be long steel vs. selling today’s rip? –Dan, AZ
Guy says: “Falling off a cliff” is a bit of an exaggeration, but the steel story is real and the steel stocks having pricing power and are cheap on a valuation basis. They should still go higher.
Pete: With the massive options action today in Deere calls, is this somewhere you would put your money? –BJ, IN
Pete says: Yes. Deere is a good trade with nice upside potential.
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Trader disclosure: On Mar. 18, 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), (EMC); Najarian owns (AAPL), (AMR), (BBBY) Puts, (C), (COP) Calls, (CSCO), (JEF) Calls, A Neutral Put Spread In (LEH), (MS), (MSFT), (TSO), (USB) Puts, (YHOO), (XLF); Seymour Owns (AAPL), (BX), (CSCO), (F), (INTC), (MBI), (MER), (MSFT), (SBUX), (TMA), (TSO)