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Stock Pickers Paradise

Wednesday, 16 Apr 2008 | 6:39 PM ET

As the market begins to trade sideways, which stocks do the charts suggest you buy?

Within individual industries there’s a case to be made for being very much in favor of one player at the expense of another player, explains Oppenheimer Chief Market Technician Carter Worth. It’s called a "pairs trade" where you buy one and sell the other and I think this market lends itself to that.

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IBM
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Charts:IBM vs. Hewlett Packard



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HPQ
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Charts:IBM vs. Hewlett Packard

I recommend getting long IBM and shorting Hewlett-Packard , says Carter Worth.

I'd be long both, counters Guy Adami.

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XOM
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Charts:ExxonMobil vs. Apache



Charts:ExxonMobil vs. Apache

I think you go long Exxon and get rid of Apache , says Worth, because Apache has probably gone too far too fast.

I like getting long Exxon but I'd short some of the EM names instead, such as Petrobras, counters Tim Seymour.


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PG
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Charts:Procter & Gamble vs Clorox



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CLX
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Charts:Procter & Gamble vs Clorox

I’d take the long side of P&G and short Clorox , says Worth because P&G has much more international exposure.

Stock Picker's Paradise
The Fast Money traders share their list of Best in Breed stocks for your portfolio.

Be careful of these trades, warns Tim Seymour. Sometimes they play themselves out over only a few days.


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Trader disclosure: On Apr. 16, 2008, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Najarian Owns (AAPL), (BIIB), (CSCO), (TSO), (YHOO), (XLF), (AMR), (ETFC), (ATI); Najarian Owns (EBAY) Calls, (IBM) Calls, (BSC) Calls, (COP) Calls, (MSFT) Calls, (HK) Calls; Najarian Is Short (INTC) Calls; Najarian Owns (LEH) Puts; Seymour Owns (AAPL), (CSCO), (INTC), (MER), (MSFT), (TSO); Seygem Asset Management Owns (TIE), (COP), (PKX), (GGB); Oppenheimer & Co. Is A Market Maker In (GOOG), (AMZN), (EBAY), (BIIB), (MLNM), (CSCO), (RIMM), (MSFT), (INTC); Oppenheimer & Co. Has Provided Investment Banking Services For (XTO) In The Past 12 Months; Oppenheimer & Co. Has Received Compensation For Investment Banking Services From (XTO) In The Past 12 Months; GE Is The Parent Company Of CNBC; Charles Schwab Is A Sponsor Of "Fast Money"

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APA
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CLX
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HPQ
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IBM
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PG
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XOM
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