What’s the trade?
There aren't a lot of trading options because China only allows its nationals to own stock in its domestic firms. But if you’re tempted to play the space with the FXI, don’t do it, counsels Karabell. The ETF is largely made up of “insurance names and oil names. If you want to own those names buy them outright and not through the FXI.”
Instread Karabell recommends a consumer play. “China is probably the most vibrant consumer story in the world today.” And as a result, he likes Internet stocks SINA Baidu and Sohu because they’re all generating huge incomes and still have enormous growth potential.
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Trader disclosure: On Feb. 24th, 2009, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Najarian Owns (MSFT), (PALM); Najarian Owns (GE) Put Spread; Najarian Owns (FCX) & (FCX) Calls; Najarian Owns (GDX) & (GDX) Short Calls; Najarian Owns (HPQ) Calls; Najarian Owns (JPM) & (JPM) Calls; Najarian Owns (MS) & (MS) Short Calls; Najarian Owns (MOS) Call Spread; Najarian Owns (X) Put Spread; Seymour Owns (AAPL), (EEM), (MON), (BAC), (FXI), (VIP), (MS), (SSL) Seymour's Firm Owns (FCX), (COP); Adami Owns (AGU), (BTU), (C), (GS), (INTC), (MSFT), (NUE); Macke Owns (MS), (TM), (DIS); Terranova Owns (DIS), (FXC), (XBI), (KCE); Terranova Owns (AMGN) & (AMGN) Puts; Terranova Owns (IBM) Call Spread; Terraova Owns Nymex MACI Oil Futures
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