Want to trade like pros? Then you need to think like the pros! In this feature the guys show you how to take economic news, such as the headlines from an FOMC meeting, and turn them into stock picks.
Dylan Ratigan explains on Wednesday The Fed announced that interest rates would remain unchanged and inflation is still their main concern.
CNBC Senior Economics Reporter Steve Liesman joins the guys for this conversation.
Liesman suggests that according to his research, investors should, “buy the Fed meeting and sell the Fed minutes.”
It’s worth noting that about 3 weeks after a Fed meeting the minutes from that meeting are released to the public.
Dylan Ratigan says in other words, Steve is saying if the stock market goes up on "Fed Day" it will go down on "Minutes Day" and vice –versa.
Liesman explains that The Street tends to overreact to the headlines and then corrects for that reaction on day the minutes come out.
Tim Strazzini says the options market already prices this in -- and there’s no trade here.
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Trader disclosure: On May 9, 2007, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Strazzini Onws (CMLS) Bolling Owns (NMX) Gold, Silver, Sugar, Coffee Bolling Is Short Crude Oil