Stock Picking Not Dead
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?
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.
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.
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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)