Time to pull out a few more letters from the Fast Money mail bag. That's right, the guys answer your questions. On Tuesday Ruth from Texas writes, “What is your outlook on insurance stocks....
#1 Mario from Florida
Mario writes “I have heard Jeff Macke, and some of the other guys use the term handle as in "I'd buy McDonald's with a 4-handle. What does this mean?”
Jeff Macke says it’s the first digit in the stock price.
#2 Ruth from Texas
Ruth writes, “What is your outlook on insurance stocks considering the subprime meltdown? What is their exposure, or can anyone assess that definitively yet?"
Guy Adami thinks insurance stocks could go lower. He’s concerned because he doesn’t know what insurance companies own.
Eric Bolling adds hurricane season gets serious starting August 1st.
#3 Jason from Florida
Jason writes “Where do you guys see Blackstone (BX) going from here? I have been short since it dipped below $29. How long do I ride this train wreck down before taking profits?”
Eric Bolling says he likes BX but says investors should trail the stop. In other words, put an automatic sell on the stock so if it reverses direction, you’re automatically out.
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Trader disclosure: On July 31st 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), Najarian Owns (GS); Bolling Owns (DIS), (T); Bolling Is Short S&P Futures; Bolling Is Short Nasdaq Futures: CNBC Is A Service Of NBC Universal And Dow Jones