While the rest of the market got slaughtered select technology names were hanging tough Apple (AAPL) closed higher. Google (GOOG), Intel (INTC), IBM (IBM) all beat the market. Is this strength a sign that tech may be the place to hide during this sell-off?
Eric Bolling says when a stock performs better than it should, he likes to own it. For this reason Eric recommends Apple, AT&T and IBM.
Jeff Macke likes GOOG for much the same reason.
Guy Adami likes Nvidia (NVDA) because he thinks Intel (INTC) will buy this company by the end of the year.
Pete Najarian says the options volatility is so cheap in AAPL, GOOG, and Baidu (BIDU) he recommends buying protective puts (which go up in value if the stock value goes down). Pete adds that he’s seeing huge options volume in Advanced Micro Devices (AMD).
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Trader disclosure: On June 6 2007, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders:Macke Owns (JWN), Najarian Owns (AMD),(.VIX),(AMTD), (AAPL), (NFLX), (NVDA); Bolling Owns (T), (ICE), (NMX), (MPEL); Bolling Is Short S&P Futures; Bolling Is Short Nasdaq Futures; Bolling Is Short (FXI) And Owns (FXI) Puts;