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4 Hot Trades Into A Correction
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If you watch Fast Money regularly you know that Patty Edwards of Storehouse Partners is something of a skeptic.
She often says she can’t get on board with this rally. “I think we may have put in a top and I think the market pulls back to 950 or 940,” she tells the desk, Tuesday.
If you fall into her camp, but you don't like to short stocks, how should you trade from the long-side?
Edwards’ Ways To Play
Long Philip Morris [PM
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Long Molson Coors [TAP
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Long Teva [TEVA
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Long SPDR Barclays High Yield ETF [JNK
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Philip Morris and Molson Coors are vice stocks and they both pay dividends, she counsels. And on the Halftime Report she told the desk she likes Teva for their revenue growth.
And if I’m wrong about the market, the JNK provides a hedge; it has a 12.7% dividend yield with a 60% correlation with the stock market. That means if things continue to go up you only get 60% of the move but if things go down you only get 60% of that move.
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Trader disclosure: On July 28th, 2009, 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), (C), (GS), (INTC), (MSFT), (NUE), (BTU); Seymour Owns (AAPL), (AA), (BAC), (FXI); Seygem Asset Management Is Short (VALE); Seygem Asset Management Is Short (PBR); Finerman's Firm Owns (MSFT), (PM), (SVU); Finerman's Firm And Finerman Own (BAC) Preferred Shares, Finerman Owns (BAC); Finerman's Firm Owns (WFMI) Puts; Finerman's Firm And Finerman Own (WFC) Preferred Shares, Finerman's Firm Is Short (WFC); Finerman's Firm Is Short (USO), (BWA), (IYR), (IJR), (MDY), (SPY), (IWM); Terranova Owns (MSFT), (MCD), (AMZN)
For Joe Terranova:
Terranova Works For (VRTS)
Terranova Is Chief Alternatives Strategist Of Virtus Investment Partners, Ltd.
Terranova Is Co-Portfolio Manager Of The Virtus Diversifier PHOLIO
Virtus Diversifier PHOLIO Owns (IGE),
Virtus Diversifier PHOLIO Owns (DBC)
Virtus Diversifier PHOLIO Owns (DBV)
Virtus Investment Partners Owns More Than 1% Of (ABD)
Virtus Investment Partners Owns More Than 1% Of (CBL)
Virtus Investment Partners Owns More Than 1% Of (CAL)
Virtus Investment Partners Owns More Than 1% Of (CLB)
Virtus Investment Partners Owns More Than 1% Of (DLR)
Virtus Investment Partners Owns More Than 1% Of (EXR)
Virtus Investment Partners Owns More Than 1% Of (IGE)
Virtus Investment Partners Owns More Than 1% Of (MEE)
Virtus Investment Partners Owns More Than 1% Of (DBC)
Virtus Investment Partners Owns More Than 1% Of (DBV)
Virtus Investment Partners Owns More Than 1% Of (DBA)
Virtus Investment Partners Owns More Than 1% Of St Mary Land & Exploration Co
Virtus Investment Partners Owns More Than 1% Of Seagate Tax Refund Rights
Virtus Investment Partners Owns More Than 1% Of (SKT)
Virtus Investment Partners Owns More Than 1% Of (TNB)
Virtus Investment Partners Owns More Than 1% Of (UA)
Virtus Investment Partners Owns More Than 1% Of (WBMD)
Edwards Owns (PM)
Storehouse Partners Owns (JNK) For Clients
CNBC.com with wires
Data is a real-time snapshot *Data is delayed at least 15 minutes
