No denying it; cheap is the new rich.
And when people need a new set of wheels, they’re turning their backs on the latest models – instead giving the green light to a car that’s like new. So, how should you trade the trend?
I think the trade is CarMax, says Jeff Macke. It’s a stock that continues to work. And also look at AutoZone, that’s a stock that’s also working. It’s a favorite of the shorts and it rarely misses.
AutoZone has doubled since October, counters Guy Adami. I wouldn’t race in, but I do like it on a pullback.
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Trader disclosure: On Apr. 15th, 2009, 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 (WFC), (AAPL), (WMT), (GS), (GE), (SDS), (GCI); Adami Owns (AGU), (C), (GS), (INTC), (MSFT), (NUE), (BTU) ; Finerman Owns (BAC) PreferredFinerman's Firm Owns (CTX), (MSFT), (RIG), ; (PBR), (UNH); Finerman's Firm Owns (BAC) Preferred; (WFC) Preferred; Finerman's Firm Is Short (BAC), (WFC), (MDY), (SPY), (USO); Najarian Owns (BX) Call Spread; Najarian Owns (C) Call Spread; Najarian owns (GS) Calls; Najarian Owns (INTC) Calls; Najarian Owns (JPM) Call Spread; Najarian Owns (PALM); Najarian Owns (RIO) Calls; Najarian owns (VAR) Call Spread; Najarian Owns (XHB) Call Spread
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