It is the biggest maker of computer-networking equipment in the world and when its CEO speaks, the whole market moves. Cisco Systems (CSCO) comes out with earnings next Tuesday. If Ben Bernanke can't do it, will Cisco save this market.
Jon Najarian says technology has led the market out of trouble before and it could do it again. Jon likes CSCO, but he loves Juniper (JNPR) in part because the company just received contracts from AT&T (T).
Guy Adami also thinks Cisco could bail the market out for a few days, at least. Guy adds CSCO is still a long term buy.
In addition Guy recommends looking at EMC Corp. (EMC), Sun Microsystems (SUNW) and Oracle (ORCL).
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Trader disclosure: On Aug 3 2007, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders: Jon Najarian Owns (JNPR), (AXP), (AAPL), (BZH), (JSDA), (LEND), (NKE), (OATS), (UA), (WFMI), Is Short (HD), (WM); Macke Owns (ATVI); Finerman's Firm and Finerman Own (BAC), (C), (HD), (KALU), Finerman's Firm Owns (COP), (DVA), S&P Puts, Russell Puts; Macke Owned (ATVI) CNBC is a service of NBC Universal and Dow Jones