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Downhill skier Lindsay Vonn

Trading 2010: Is China a Friend or Foe?

Growth in China has been nothing less than spectacular, with GDP growth averaging 10% since 1991, will this extreme growth exhibit a competitive threat in 2010?

Steve Grasso is focusing on steel tariffs, and is fearful of a potential trade war with China, although the addition of steel tariffs could simply be governments standing up for their steel industries. The US hasn't imported steel from them in months, he says, which suggests that parts of our economy can get along without Chinese support.

At the end of the day, the countries need eachother, says Joe Terranova. They can't be our foe, says Steve Cortes, based on the simple reason that the country holds so much of our sovereign debt, and because of that, they are forced to be our friend.

Trader Surprise for 2010?

Brian Kelly's suggested surprise for 2010 is in the foreign markets. He thinks Japan, specifically, is positioned to outperform the rest of the world, reason being that the strong Yen has began to weaken and the Bank of Japan has begin quantitative easing policies. Being that the country's economy is very export driven, the exporters will be doing much better as the currency weakens, the economy that has underperformed for a decade may be set for a comeback.



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Trader disclosure: On December 31st, 2009, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders;

Cortes Is Long S&P 500; Cortes Is Long U.S. Dollar vs. AUD, MXN; Cortes Is Short Gold; Cortes Is Short Crude Oil; Cortes Is Long T-Bonds; Cortes Owns (GD); Cortes Is Short (PHM); Cortes Is Short (TOL)

Kelly Owns (PAL); Kanundrum Capital Owns (AA); Kanundrum Capital Owns (BAC); Kanundrum Capital Owns (C); Kanundrum Capital And Kelly Own (FCX); Kanundrum Capital Owns (FXI); Kanundrum Capital Owns (FXY), Kelly Owns (FXY) Puts; Kanundrum Capital Owns (GLD); Kanundrum Capital Owns (GLW); Kanundrum Capital Owns (JPM); Kanundrum Capital Owns (SSO); Kanundrum Capital Owns (TBT); Kanundrum Capital Owns (USO); Kelly Owns (UUP)

Terranova Works For (VRTS); Terranova Is Chief Market Strategist Of Virtus Investment Partners, Ltd.

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 (XLY)
Virtus Investment Partners Owns More Than 1% Of (DBV)
Virtus Investment Partners Owns More Than 1% Of (UA)

Grasso Owns (APK); Grasso Owns (AAPL); Grasso Owns (ASTM); Grasso Owns (BAC); Grasso Owns (BGP); Grasso Owns (C); Grasso Owns (COST); Grasso Owns (CSCO); Grasso Owns (FAZ); Grasso Owns (PFE); Grasso Owns (PRST); Grasso Owns (WMT); Grasso Owns (V)

Stuart Frankel & Co. And Its Partners Own (AIZ)
Stuart Frankel & Co. And Its Partners Own (CUBA)
Stuart Frankel & Co. And Its Partners Own (GERN)
Stuart Frankel & Co. And Its Partners Own (GLG)
Stuart Frankel & Co. And Its Partners Own (HSPO)
Stuart Frankel & Co. And Its Partners Own (NWS.A)
Stuart Frankel & Co. And Its Partners Own (NXST)
Stuart Frankel & Co. And Its Partners Own (NYX)
Stuart Frankel & Co. And Its Partners Own (PDE)
Stuart Frankel & Co. And Its Partners Own (PRST)
Stuart Frankel & Co. And Its Partners Own (RDC)
Stuart Frankel & Co. And Its Partners Own (ROK)
Stuart Frankel & Co. And Its Partners Own (TLM)
Stuart Frankel & Co. And Its Partners Own (XRX)
Stuart Frankel & Co. And Its Partners Own (SDS)
Stuart Frankel & Co. And Its Partners Are Short (QQQQ)
Stuart Frankel & Co. And Its Partners Are ShorT (CL)

JIM IUORIO

Iuorio Owns (TBT)
Iuorio Owns (FXA)
Iuorio Owns (FXC)
Iuorio Is Long Equity Volatility With A Negative Bias
Iuorio Owns (GLD) Puts, Is Short (GLD) Puts

***IUORIO DOES NOT HAVE DISCLOSURES ON TYH, SHY

SCOTT BURNS

Morningstar ETF Research Team Owns (XLP), (IEO), (XLU), (PGF), (WIP) In Its Model Portfolios
Barnes Owns (XLP), (PGF)
Morningstar Licenses Indexes To Blackrock/iShares

BRAD HINTZ

Hintz Owns Morgan Stanley And Discover
Hintz Owns (CME)
Accounts Over Which Bernstein And/Or Affiliates Exercise Investmet Discretion Own More Than 1% Of (GS), (MS)
(GS), (MS) Are Or In Past 12 Months Were Clients Of Bernstein (Non-Investment Banking-Securities Related Services)
An Affiliate Of Bernstein Received Non-Investment Banking Compensation From (GS), (MS) (Securities Related Services)


JIM SUVA

Citigroup Global Markets Or Affiliates Owns 1% Or More Of (PALM)
Citigroup Global Markets Or Affiliates Has Received Investment Banking Compensation For Services Provided In Past 12 Months From (MOT), (GLW)
Citigroup Global Markets Or Affilate In Past 12 Months Received Non-Investment Banking Compensation From (MOT), (PALM), (GLW)
(MOT), (GLW) Are Or In Past 12 Months Were Investment Banking Clients Of Citigroup Global Markets
(MOT), (PALM), (GLW) Are Or In Past 12 Months Were Non-Investment Banking Clients Of Citigroup Global Markets (Non-Securities-Related Services)
Citigroup Global Markets Or Affiliate Received Compensation In Past 12 Months From (MOT)
Citigroup Global Markets Is A Market Maker In (RIMM), (PALM)
Citigroup Global Markets And/Or Affiliates Has A Significant Financial Interest In Relation To (MOT), (GLW)

***JIM SUVA HAS ADDITIONAL DISCLOSURES -- WILL UPDATE IF APPLICABLE

NEHAL CHOKSHI

***NO DISCLOSURES



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