In Tech We Trust?
Investors looking for opportunities in an otherwise bleak market are hopeful that technology could be a beacon in a very stormy sea. Next week BlackBerry maker Research in Motion and Oracle report earnings. Considering only 2 stocks in the S&P tech index closed higher Friday, how should you trade?
Research In Motion
I love RIMM in every way expect for the fact that it ran $10 this week, says Pete Najarian. If it pulls back a few more dollars than look at it. Right now the stock is probably ahead of itself.
I’m paring down my position in RIMM ahead of earnings, says Qunit Tatro, but I always do.
Oracle is in two business – rolling up smaller software businesses and selling a lot of software to the financials, says Jeff Macke. Did you know the financial sector is in a little bit of trouble? Orcale is a well run company selling to customers who are miserable.
I wouldn’t race into Oracle either, adds Guy Adami.
But they have international exposure, counters Pete Najarian. If the stock dips I say jump in. You've got to be get ahead of the trend.
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Trader disclosure: On June 20, 2008, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Adami Owns (AGU), (C), (BTU), (GS), (INTC), (MSFT), (NUE); Macke Owns (INTC), (MSFT), (WMT), (DIS); Najarian Owns (AAPL), (BHI), (CHK), (ENER), (NOK), (TSO), (XLF), (HPQ); Najarian Owns (MER) Puts; Najarian Owns (MYGN) Calls, (SD) Calls; Najarian Owns (HRB) Puts; Quint Tatro Is The Principal Of Tatro Capital; Tatro Owns (C), (DV), (PETS), (STRA), (ESLR), (GLD), (GLW), (GS), (QQQQ), (RIMM), (SDS); Tatro Capital Owns (SLV), (ASTI); Tatro Capital Owns (USO) Puts