Time To Get Back In?

Thursday, 16 Oct 2008 | 6:37 PM ET

After the volatile trading of the past several days, professional and amateur investors alike are throwing in the towel.

Last week, investors sucked a record $65 billion out of mutual funds, the largest redemption on record. On Wednesday a new survey from Merrill Lynch showed that half of all mutual fund managers are now "overweight" cash.

Battle the Bear
The Fast Money traders help viewers battle the bear market.

And the Wall Street Journal reported that even the fastest and most savvy hedge fund heavies ---aka John Paulson and Steve Cohen --- have given up making sense of this crazy market and are also hiding out in dollars.

They’re probably sitting on a mountain of cash, and perhaps you are too. Considering so much wealth has been destroyed already should you just sit the rest of the year out or hold your nose and dive in?

That’s kind of a non-question for the Fast Money traders. They always think there’s money to be made in any market. Here’s where they suggest “diving in.”

Guy Adami

I like United Technologies , says the Negotiator. At 10 times forward earnings I think this company looks cheap.

Joe Terranova

I’m a believer that nat gas prices have found a bottom and as a result I suggest EOG Resources , says the Liquidator.

Karen Finerman

I’m a fan of cigarettes and alcohol, says the Chairwoman with a wink and a grin. Check out Diageo and Altria .

Pete Najarian

Abbott Labs is my pick, says the Pit Boss. This company’s numbers were outstanding and worldwide sales were up 17%.

Got something to to say? Send us an e-mail at fastmoney-web@cnbc.com 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 fastmoney@cnbc.com.

Trader disclosure: On Oct.16, 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), (BTU), (C), (GS), (INTC), (MSFT), (NUE); Pete Najarian Owns (AAPL), Is Short (AAPL) Calls, Owns (AAPL) Puts; Pete Najarian Owns (C) Put Spread; Pete Najarian Owns (GS) Call Spread; Pete Najarian Owns (MS), Is SHort (MS) Calls, Owns (MS) Puts; Pete Najarian Owns (YHOO) Call Spread; Pete Najarian Owns (SLB) And Is Short (SLB) Calls; Pete Najarian Owns (SCHW) And Is Short (SCHW) Calls; Finerman Owns (GS); Finerman's Firm Owns (MSFT), (DEO), (MO); Finerman's Firm Owns (DNA) Call Spreads; Finerman's Firm Is Short (USO), (IYR), (IJR), (MDY), (SPY), (IWM); Terranova Owns (AAPL), (EXM), (FCX), (FTO), (MA), (NOV), (POT), (X), (VLO);

Terranova Is Co-Portfolio Manager Of The Virtus Diversifier PHOLIO; Virtus Diversifier PHOLIO Owns (IGE), (DBC), (DBV)

Terranova Is Chief Alternatives Strategist Of Virtus Investment Partners, Ltd.; Virtus Investment Partners Owns More Than 1% Of (ABD), (ARE), (BIG), (CNW), (OFC), (DLM), (DRH), (DLR), (EPR), (EXR), (FL), (SLB), (LNET), (MAC), (DBC), (DBV), (SKT), (UA), (BLV), (VV), (CLB), (GWX), (IGE), (FSMXX); Virtus Investment Partners Owns Seagate Tax Refund Rights; Virtus Investment Partners Owns Seagate Technology Tax Refund Rights; Virtus Investment Partners Owns More Than 1% Of Shares Of Incitec Pivot Ltd.; Virtus Investment Partners Owns More Than 1% Of Shares Of Essex Property Trust Inc.

GE Is The Parent Company Of CNBC; Charles Schwab Is A Sponsor Of "Fast Money"

  Price   Change %Change

Contact Fast Money

  • Showtimes

    Halftime Report - Weekdays 12p ET
    Fast Money - Weekdays 5p ET
  • Melissa Lee is the host of CNBC's “Fast Money” and “Options Action.”

  • Scott Wapner is host of the "Fast Money Halftime Report," which airs weekdays from 12 p.m. to 1 p.m. ET.

  • Guy Adami is a contributor on CNBC's "Fast Money." He also is managing director of stockMONSTER.com.

  • Najarian, the "Pit Boss," is cofounder of optionMONSTER.com, a news site for options traders.

  • Finerman is president of Metropolitan Capital Advisors, Inc., a company she co-founded.

  • Founder of EmergingMoney.com

  • Chief Market Strategist for Virtus Investment Partners & CNBC Contributor

Halftime Report