If you’re looking to trade during this mess you'll want to get far away from Wall Street. But how far?
Are you considering the technology sector? That’s the next town over. And that’s not far enough. Already high end consumer / business names such as Research In Motion and Apple are taking a hit.
No, you’ve got to get well into the country before you should trade! Are Wal-Mart, McDonald's and Buffalo Wild Wings far enough away from Wall Street to get long?
There’s a correction going on, counsels Jon Najarian. No doubt about that. However looking forward there are stocks catching investor interest.
One of them is Wal-Mart , he reveals. As the markets have tumbles that stock continued to do well and attract investor dollars.
Also NutriSystems is performing nicely believe it or not. I guess if the world is going to hell in a hand basket people want to look good, he chuckles.
And Dell has behaved quite impressively over the last 4 or 5 sessions, Najarian says.
True Religion is also worth a look. It moved from $24 to $31 in just the past few days!
In other words, Najarian feels all of the stocks listed above are far enough away from the crisis that they could be in play. And, if you must stay close to home and play financials he has some advice.
Credit Suisse, UBS and HBSC are all overseas banks that are attracting investor interest. But only if you must.
What do you think? We want to know!
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Trader disclosure: On Sept 18, 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 (SDS), (WMT), (MSFT); Adami Owns (AGU), (BTU), (C), (GS), (MSFT), (NUE); Pete Najarian Owns (AAPL) And (AAPL) Collar; Pete Najarian Owns (ETFC); Pete Najarian Owns (MS) And (MS) Puts; Pete Najarian Owns (NOK) And Is Short (NOK) Calls; Pete Najarian Owns (RIMM) Call Spreads; Pete Najarian Owns (TSO) Call Spread; Pete Najarian Owns (WB) Put Spread; Pete Najarian Owns (WM) And (WM) Puts; Pete Najarian Owns (XLF) And (XLF) Puts; Finerman Owns (GS); Finerman's Firm Owns (MO), (MSFT), (NOK), (SUN), (TSO), (VLO); Finerman's Firm Owns (WFC) Puts; Finerman's Firm Is Short (IYR), (IJR), (MDY), (SPY), (IWM), (COF)
Jon Najarian Owns (WMT), (DELL)