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Stock Picking Not Dead

Thursday, 5 Mar 2009 | 6:08 PM ET

There’s nothing wrong with being picky. In fact, that’s probably the only way to survive this market.

And if you’re going to pick stocks, the fast Money traders say the best place to look is technology. That’s because they feel that when the economy turns technology stands to benefit early, as companies increase their IT spending.

What do they like?

Pete Najarian

Take a look at Adobe,” counsels the Pit Boss. In this terrible tape they finished to the upside. They’ve done a lot of cost cutting and have become much more efficient.

Guy Adami

I’d look at Cree,” adds the Negotiator. They make LED lighting which plays into the energy efficiency trade. Also there’s huge short interest in this stock. However, right now it’s a little rich. But it’s a buy on a dip.

Stock Picking Not Dead
The Fast Money take a look at stocks they think can weather this storm.

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Trader disclosure: On Mar. 5th, 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); Macke Owns (GE) Puts; Macke Owns (MS), (SDS), (AAPL), (MOS); Najarian Owns (GDX), Najarian Owns (MS) & (MS) Calls, Najarian Owns (MSFT) & (MSFT) Call; Najarian Owns (X) Call Spread; Najarian Owns (V) & (V) Calls; Najarian Owns (WFC) & (WFC) Calls; Najarian Owns (DNA) Calls; Najarian Owns (DOW) Call Spread; Najarian Owns (FCX) Spread; Najarian Owns (GLD) Put Spread; Najarian Owns (GE) Puts; Najarian Owns (PNC) Put Spread; Finerman's Firm Owns (DNA) & (DNA) Calls; Finerman's Firm Owns (BAC) Preferred; Finerman's Firm Owns (WFC) Preferred; Finerman Owns (WFC) Preferred; Finerman's Firm Owns (PLCE), (MSFT), (PBR), (RIG), (TGT): Finerman's Firm Is Short (BAC), (BBT), (IYR), (IJR), (IWM), (MDY), (SPY), (USO)

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ADBE
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  • 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

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