Risk premiums in some financials make me nervous. I bought puts in Wachovia because I think they have more trouble coming. Unless you have to be in this market I think the thing to do is scale back.
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Trader disclosure: On Sept 15, 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 (WMT), (TTWO), (MSFT); Adami Owns (AGU), (BTU), (C), (GS), (MSFT), (INTC),( NUE); Najarian Owns (AAPL) And (AAPL) Collar; Najarian Owns (AMGN) Call Spread; Najarian Owns (MS) And (MS) Collar; Najarian Owns Owns (NOK) And Is Short (NOK) Call; Najarian Owns (RIMM) Call Spread; Najarian Owns (TSO) Call Spread; Najarian Owns (WB) Puts; Najarian Owns (XLF) And (XLF) Collar; Terranova Owns (NOV), (X), (POT), (FCX), (EOG), (AAPL), (GS), (KOL), (VLO), (SA); Terranova Owns (AIG) Puts And Owns (AIG)
Terranova Is Chief Alternatives Strategist Of Phoenix Investment Partners, Ltd.: Phoenix Investment Partners Owns More Than 1% Of (ABD), (ARE), (BIG), (BRE), (CNTY), (CNW), (CLB), (OFC), (DLM), (DRH), (DLR), (EPR), (ESS), (EXR), (AGM), (FL), (GBL), (GNET), (IGE), (LNET), (MAC), (OIIM), (PSPT), (DBC), (DBV), (SLB), (GWX), (SSYS), (SKT), (UA), (BIV), (VV), (BLV); Phoenix Investment Partners Owns More Than 1% Of Goldman Sachs Financial Square Fund - Money Market Fund; Phoenix Investment Partners Owns More Than 1% Of Seagate Technology Tax Refund Rights
Terranova Is Co-Portfolio Manager Of The Phoenix Diversifier PHOLIO; Phoenix Diversifier PHOLIO Owns (IGE), (DBC), (DBV)
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