78 million Baby Boomers in the US are grabbing this bull market by the horns, spending their enormous wealth and pulling stocks up along the way. Their money is going everywhere from casinos to replacement knees.
Speaking of knees, orthopedic implant maker Biomet (BMET) was bought out for $11.4 billion last month and Tuesday shares of Zimmer Holdings (ZMH) shot nearly 3% higher.
Pete Najarian says ZMH makes replacement parts for every part of the body including teeth. He adds options volume is explosive which he interprets to mean that ZMH is the next name to get bought out in this space. Pete anticipates a $94 or $95 price tag.
Eric Bolling likes Siemens (SI) and General Electric (GE) in the space.
Tim Seymour likes Titanium Metals Corp. (TIE) because titanium is widely used in prosthetics.
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Trader disclosure: On July 17th 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 (ATVI); Bolling Owns (BP), (XOM), Corn, Soybeans, Gold, Silver, Platinum, Copper; Najarian Owns (SNDK); Seymour Owns (BAC), (BBD), (COP), (INTC), (ITU); GE Is The Parent Company of CNBC; CNBC Is A Service Of NBC Universal And Dow Jones