Protecting Profits

Friday, 2 May 2008 | 4:54 PM ET

Retail has been one of the best sectors since the market bounce began in early March, rising about 14% during that time. Is it time to take some profits?

The run since March has been very dramatic, says Karen Finerman on CNBC’s Closing Bell. Retail has come so far so fast I think investors should be taking gains. I love Wal-Mart but I’m out of it entirely just in terms in valuation.

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Another name that I liked was JC Penney which had traded down to $35. I still think it’s attractive at 13 times earnings but that’s another name in which I’m taking profits.

And what are you doing with that money?

Fast Money Final Call
Fast Money's Karen Finerman discusses whether it's time to take some retail profits.

I’m keeping that money in cash right now. But I’m always looking for the next play!

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Finerman Owns (GS), (C); Finerman's Firm And Finerman Own (HD); Finerman's Firm Owns (MO), (MSFT), (PLCE), (YHOO) and (YHOO) Call Spreads, S&P 500 Puts, (C) and (C) Leaps,
Finerman's Firm Is Short (WWY), (IYR), (IJR), (MDY), (IWM), (SPY), (COF)

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  • Melissa Lee is the host of CNBC's “Fast Money” and “Options Action.”

  • Scott Wapner is host of the "Fast Money Halftime Report," which airs weekdays from 12 p.m. to 1 p.m. ET.

  • Guy Adami is a contributor on CNBC's "Fast Money." He also is managing director of stockMONSTER.com.

  • Najarian, the "Pit Boss," is cofounder of optionMONSTER.com, a news site for options traders.

  • Finerman is president of Metropolitan Capital Advisors, Inc., a company she co-founded.

  • Founder of EmergingMoney.com

  • Chief Market Strategist for Virtus Investment Partners & CNBC Contributor

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