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Before this rally stalls any further, where should you be taking profits and where should you stay put? The Fast Money traders have some guidelines to follow.
Joe Terranova sees the longest road to recovery in the REIT space and in the homebuilders [IYR
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]. He suggests going short Avalonbay [.DJIA
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] , which has exposure to apartments and KB Homes [KBH
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]. Given the current valuations and the future challenges, Terranova thinks short is the way to go for these stocks.
If you don't think this is a sustainable rally, Tim Seymour adds, you should be looking at the transportation names [.DJT
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] that traditionally lead the economy out of recession. These are good names, he says, but they are overdone.
Karen Finerman agrees on the REIT space, noting that it is a "supervolatile" sector, although she doesn't think shorting the homebuilders is your best move right now.
Mike Khou would suggest unloading profits in some retail names [RTH
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], some of which have had huge rallies of late. "If you're looking to take some profits, that's the place to do it," he says, "because we haven't seen the consumer come to the rescue yet."
For the traders' full analysis on this Hewlett Packard [HPQ
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] earnings, and a full interview with Daniel Hamburger, CEO of Devry, check out the videos!
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______________________________________________________ Trader disclosure: On Aug. 14th, 2009, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders: GE Is The Parent Company Of CNBC Cantor Fitzgerald & Co. Is A Market Maker In (AAPL) Cantor Fitzgerald & Co. Is A Market Maker In (DELL) Cantor Fitzgerald & Co. Is A Market Maker In (GOOG)Cantor Fitzgerald & Co. Is A Market Maker In (HPQ)Cantor Fitzgerald & Co. Is A Market Maker In (INTC) Cantor Fitzgerald & Co. Is A Market Maker In (MSFT) Cantor Fitzgerald & Co. Is A Market Maker In (QQQQ) Cantor Fitzgerald & Co. Is A Market Maker In (WFMI) Cantor Fitzgerald & Co. Is A Market Maker In (WIRE)Cantor Fitzgerald & Co. Is A Market Maker In (YHOO) Finerman's Firm Is Short (IYR) Finerman's Firm Is Short (IJR)Finerman's Firm Is Short (MDY) Finerman's Firm Is Short (SPY) Finerman's Firm Is Short (IWM) Finerman's Firm Is Short (USO)Finerman's Firm And Finerman Own (BAC) Preferred Shares, Finerman Owns (BAC)Finerman's Firm Owns (MSFT)Finerman's Firm Owns (TGT) Finerman's Firm Is Short (USO)Finerman's Firm Owns (WFC) Preferred Shares And Is Short (WFC), Finerman Owns (WFC) Preferred Shares Finerman's Firm Owns (WMT) Terranova Owns (AMZN)Terranova Owns (MSFT); Terranova Is Short (KBH); Terranova Is Short (AVB);Terranova Works For (VRTS) CNBC.com with wires
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Terranova Is Chief Market 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 (CAL)
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 (DBC)
Virtus Investment Partners Owns More Than 1% Of (DBV)
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 (CLB)
Seymour Owned (AA) On 8/3/09
Finerman Owned (CTX) On 8/4/09
Finerman Owned (WFMI) Puts On 8/3/09
Data is a real-time snapshot *Data is delayed at least 15 minutes