What’s the trade as anxious Americans spend less and less on leisure?
Next week Goldman Sachs will host it’s annual lodging, gaming, restaurant and leisure conference. A wide range of companies including McDonald’s, Starbucks and Carnival Cruises are expected to make presentations.
With Americans spending less on leisure how should you trade?
If you’re looking for losers you’re at the right place, says Pete Najairan. Leisure stocks are near their lows. Just Friday Morgan downgraded Marriott and I think they’re right.
However, of all the stocks in this space, I like Boyd Gaming best for upside potential, Najarian adds. I think it’s oversold and there’s even speculation that Carl Icahn could be sniffing around.
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Trader disclosure: On May 30, 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 (MSFT), (INTC), (DIS), (WMT), (ATVI); Najarian Owns (AAPL), (ANR), (BHI), (BKC), (HPQ), (TSO), (XLF), (AMLN), (HD), (SYMX); Najarian Owns (HK) Calls; Najarian Owns (EXM) And (EXM) Puts; Adami Owns (BTU), (C), (GS), (INTC), (MSFT), (NUE), (AGU); Finerman Owns (GS); Finerman's Firm And Finerman Own (GLNG), (HD); Finerman's Firm And Finerman Own (C) And (C) Leaps; Finerman's Firm Owns SXP Index Puts; Finerman's Firm Owns (AAPL), (MSFT), (SUN), (TSO), (VLO), (SBUX), (MPG); Finerman's Firm Is Short (IYR), (IJR), (MDY), (IWM), (SPY)