The Bank Trade - After The Bailout
If you’re old enough to remember the original “Poseidon Adventure” then you know, “there’s got to be a morning after.”
Come to think of it, that movie resembles the current crisis in more than a few ways. I mean, the damage was pretty severe and by the end of it, not everyone survived.
But like we said up top there’s got to be a morning after and when the dawn does break, here’s how to trade.
I am a big fan of the huge asset acquiring banks, says the Pit Boss. JP Morgan, Credit Suisse , Deutsche Bank and Bank of America are all attractive.
I also like banks, adds the Negotiator. The weak will get weaker and the strong will get stronger. I’d look at US Bancorp and Wells Fargo .
If you do decide to get into stocks you have to be patient. A market that is functioning well doesn’t need this kind of intervention.
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Trader disclosure: On Sept 25, 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), (WMT); Adami Owns (AGU), (BTU), (C), (GS), (MSFT), (NUE), (INTC); Finerman Owns (GS); Finerman's Firm Owns (MSFT), (NOK), (WM), (DELL), (PM); Finerman's Firm Is Short (IYR), (IJR), (MDY), (SPY), (IWM), (COF); Najarian Owns (NOK); Najarian Owns (AAPL) And (AAPL) Puts; Najarian Owns (BBBY) Put Spread; Najarian Owns (FCX) Call Spread; Najarian Owns (GS) Call Spread; Najarian Owns (MS) And Is Short (MS) Calls; Najarian Owns (RIMM) Call Spread; Najarian Owns (WB) Put Spread; Najarian Owns (XLF) Call Spread
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