Good bye, good riddance and don’t let the door hit you in the behind. With the S&P down more than 10% for the quarter, that’s a polite way to explain how most pros feel about the last 3 months.
But there’s no use crying over spilled milk. Now, how can you profit as we head into Q4?
Following are some thoughts and insights from the Fast Money gang.
The Fast Money Pit Boss suggests keeping materials stocks on the radar. “They’ve absolutely been taken out,” he says. Najarian is particularly keen on Freeport McMoRan and Walter Energy. “They’re just too cheap,” he says. “I’m slowly starting to nibble.
And as a related trade Najarian also likes the rails. “Somebody’s got to move it all.”
With consumers retrenching, Fast Money’s Chairwoman suggests focusing on companies that provide value,” Something like Target,” she says.
And ever the value investor Finerman also suggests looking for stocks that are just ridiculously oversold. In that category she likes Wabco.
”I’m looking at biotech,” says the Fast Money Negotiator. “Celgene has held up remarkably well. “ He’s not quite ready to pull the trigger but if there’s a washout in the S&P Adami says, “I’d jump in.”
”I’m currently getting into Goldman, Morgan Stanley and Wells Fargo ,” says the Fast Money Liquidator. Terranova thinks these stocks are so oversold that positive headlines such as a better than expected jobs number could send them off to the races.