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Even though the cold war is over the U.S. government is still spending like the Soviets are coming.
Just last week, the House okayed more than $600 billion for defense.
If and when the bill is signed the money will be spread across a wide range of areas; everything from unmanned surveillance and attack drones to nuclear bomb sniffers and firewalls against crippling cyber terror attacks.
However cash won't be going into some of the more traditional areas. Last month Congress ended funding for Lockheed Martin's F-22 fighter planes.
With so much dough pouring into the sector, but perhaps not going to the usual suspects, how should you trade?
I’d look at L3 Communications [LLL
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], says Guy Adami. And after Smith & Wesson’s [SWHC
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] recent acquisition of Universal Safety, I think that stock is in play too.
For further insights the traders turned to 4-Star General Anthony Zinni, chairman and acting CEO of BAE Systems. Find out what he has to say about defense spending. Watch the video now
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Trader disclosure: On Aug 5th, 2009, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Terranova Owns (MSFT), (RIMM), (JPM), (MS), (ABT), (MCD), (AMZN); Terranova Works For (VRTS); Terranova Is Short (TM), (WFC), (WYNN), (F); Finerman Owns (RIG); Finerman's Firm Owns (MSFT), (NOK), (PBR), (RIG), (PDE), (TBT), (WMT), (TGT); Finerman's Firm Is Short (USO), (IJR), (IYR), (IWM), (MDY), (SPY); Finerman's Firm And Finerman Own (BAC) Preferred Shares; Finerman's Firm And Finerman Own (WFC) Preferred Shares; Finerman's Firm Is Short (WFC); Finermna's Firm Is Long (WFMI) Puts; Najarian Owns (AET); Najarian Owns (BAC) Call Spread; Najarian Owns (BX) Call Spread; Najarian Owns (BUCY) & (BUCY) Call Spread; Najarian Owns (FCX) & (FCX) Call Spread; Najarian Owns (INTC) Call Spread; Najarian Owns (JPM) & (JPM) Call Spread; Najarian Owns (MS) & Short (MS) Calls; Najarian Owns (MSFT) & Short (MSFT) Calls; Najarian Owns (PALM) Call Spread; Najarian Owns (V) & Short (V) Calls; Najarian OWns (YHOO) Call Spread ; Najarian Owns (SYNA) Calls; Najarian Owns (CSCO) Call Spread; Najarian Owns (SWNA) Calls; Adami Owns (AGU), (C), (GS), (INTC), (MSFT), (NUE), (BTU)
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