Last Friday, Pete Najarian recommended the brokers ahead of this week’s earnings parade. Buy them on Monday and sell them on the eve of Goldman Sachs’ (GS) earnings, he said. Guy Adami agreed, and the trade would have paid off. Goldman and Bear Stearns (BSC) both took a hit in their earnings today from the continued subprime fallout. But because the banks have been earning so much revenue, anything short of a grand slam isn’t good enough. “The expectations were ridiculous,” Guy says. Stick with the banks as a long-term play, the guys say, but be weary of short-term sell offs until the subprime problem is completely flushed out.
Eric Bolling has been touting a four-way play on the run in agriculture for a long time. His combination of Monsanto (MON) (for seed), Agrium (AGU) (for fertilizer), Bunge (BG) (for processing) and Deere (DE) (for tractors) is up 55% for the year as wheat is up 65% and corn is up 68% for the year.
Trader disclosure: On June 14, 2007, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders: Bolling Owns (BP), (ICE), (NMX), (T), Natural Gas; Is Short (FXI), Owns (FXI) Puts; Najarian Owns (MS), Owned (MS) on 6/13; Seymour Owns (AAPL), (BP), Gazprom, (RDS.B), (SBUX), Uranium; Red Star Asset Management Is Short (EEM), Owns Gazprom, Lukoil, Rosneft, Is Short (XOM), (EEM); Gazprom and Lukoil Are On Pink Sheets in U.S. But Trade on Exchange in London CNBC is a service of NBC Universal and Dow Jones
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