As you know, the government gave their preliminary results to the banks last Friday.
The institutions the received stress tests follow: Citigroup, Bank of America Corp, Goldman Sachs Group Inc, JPMorgan Chase & Co, Morgan Stanley, MetLife Inc, Wells Fargo & Co, PNC Financial Services Group Inc, US Bancorp, Bank of NY Mellon Corp, SunTrust Banks Inc, State Street Corp, Capital One Financial Corp, BB&T Corp, Regions Financial Corp, American Express Co, Fifth Third Bancorp, Keycorp and GMAC LLC.
What’s the trade?
Going into the stress test, I don’t see a trade, says Jeff Tomasulo of SMB Capital. However I'm longGoldman as best of breed play. And if the market shurgs off the test results, I'm going to get long Morgan Stanley which has been stuck in a range and add to my position in GS.
And I’m keeping an eye on Visa, he adds. It found some support at $68. If Visa trades above $70 and holds, I’d get long.
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Trader disclosure: On Apr 30th, 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 (LVS), (AAPL), (WFC), (SDS); Seymour Owns ( AAPL), (BAC), (EEM), (FXI); Seymour Is Short (X); Finerman's Firm Owns (AXP), (PBR), (RIG), (UNH), (TBT); Finerman's Firm Owns (BAC) Preferred; Finerman's Firm Owns (C) Preferred; Finerman's Firm Owns(MSFT) & (MSFT) Put Spread; Finermans Firm Is Short (IJR), (MDY), (SPY), (IWM), (USO); Najarian Owns (BX) Call Spread; Najarian Owns (INTC) Call Spread; Najarian Owns (MS) & (MS) Calls; Najaria Owns (NTRS); Najarian Owns (ORCL) Call Spread; Najarian Owns (PALM) & (PALM) Calls; Najarian Owns (RHT) Calls ; Najarian Owns (UNH) Puts; Najarian Owns (VAR) Call Spread; Najarian Owns (XHB) Cal Spread; Najarian Owns (XLB) Call Spread
Tomasulo Owns (GS), (JPM)