John McCain stunned Wall Street and the world on Friday with the unexpected nomination of little-known Alaska Gov. Sarah Palin as his running mate. Called a political maverick, McCain not only captured the nation’s attention he all but knocked rival Barack Obama out of the headlines on Friday after the Dem made history as the first African-American presidential nominee of a major U.S. party.
The Dow went down when McCain announced his decision, explains Karen Finerman, but I’m not sure there’s a correlation. However I think it’s a terrible choice.
The choice of Palin was partly aimed at appealing to women voters who might have been disillusioned by Obama's decision to pick Joe Biden as his No. 2 instead of Democratic Sen. Hillary Clinton of New York.
I think by going with Palin, McCain was saying that I’m still a maverick, adds BreakingViews.com U.S. editor Rob Cox on Fast Money. And it plays into the belief that he’s got to do something pretty radical to shake attention from Obama.
I'm eager to hear more about her, Pete Najarian chimes in. It probably makes the Republican National Convention more compelling that it otherwise might have been.
We want to know what you think about McCain's VP choice? Tell us now!
Got something to to say? Send us an e-mail at firstname.lastname@example.org and your comment might be posted on the Rapid Recap. If you'd prefer to make a comment but not have it published on our website send those e-mails to email@example.com.
Trader disclosure: On Aug 29, 2008, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders;Karabell Owns (AAPL), (BHP), (CHL), (GLD), (GOOG), (JPM), (NOK), (SLB); Najarian Owns (LEH) Puts Spread; Najarian Owns (RIMM) Call Spread; Najarian Owns (WFC) Call Spread
Najarian Owns (MS) And Is Short (MS) Call; Najarian Owns (NOK) And Is Short (NOK) Call; Finerman Owns (GS); Finerman's Firm Owns (MSFT), (NOK), (SUN), (TSO), (VLO); Finerman's Firm And Finerman Own (C) Leaps; Finerman's Firm And Finerman Own (GLNG); Finerman's Firm Is Short (IYR), (IWM), (MDY), (SPY), (IJR), (BBT), (COF); Terranova Owns (NOV), (KOL), (X), (GS), (SA), (VLO), (RIMM), (AAPL), (EOG); Terranova Owns (POT); Terranova Owns (FCX)
Terranova Owns (AIG) Puts; Terranova Is Long Dec. 2008 Reformulated Gasoline Crack Futures
Terranova Is Chief Alternatives Strategist Of Phoenix Investment Partners, Ltd.; Phoenix Investment Partners Owns More Than 1% Of (ABD), (ARE), (BRE), (CNTY), (CLB), (OFC), (DLR), (ESS), (EXR), (FL), (IAT), (IGE), (LNET), (MAC), (OIIM), (PSPT), (DBC), (DBV), (SLB), (SKT), (BLV)
Terranova Is Co-Portfolio Manager Of The Phoenix Diversifier PHOLIO; Phoenix Diversifier PHOLIO Owns (IGE), (DBC), (DBV)