If you wanted to find a winner in the stock market Monday, look no further than the palm of your hand. Gadget makers such as Research In Motion (RIMM), Palm (PALM) and Garmin (GRMN) all jumped today. Why are these names working in a tough tape?
Pete Najarian is excited about RIMM for their stock spilt and their new devices, such as The Pearl. Pete adds Nokia (NOK) looks good to him, too. He doesn’t think weakness in the credit market will have any effect on the way people use these devices.
Pete also likes Apple (AAPL) as a tech name.
Guy Adami recommends owning Apple the next time the stock trades 150 million shares over a 3-day period.
Stacy Briere Gilbert likes the gadget stocks and suggests they’re like Teflon because she doesn’t think they would drop significantly in a bear market.
Jeff Macke says he would sell most of these names in this tape.
No one on the panel likes Palm
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Trader disclosure: On Aug 20 2007, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money; Macke Owns (DIS), (JWN); Najarian Owns (ATML); Najarian Is Short (GS) Najarian Owns S&P Puts; Stacey Briere Gilbert Is Chief Options Strategist For Susquehanna Financial Group, LLLP; Gilbert Is Head Of Market Intelligence Research For Susquehanna Financial Group, LLLP; Gilbert Does Not Cover Individual Securities But Does Recommend Trading Strategies
Susquehanna Financial Group Is A Market Maker In (ATML), (BIDU), (CROX), (DNDN) (FSLR), (FXI) (GYMB), (GRMN), (GOOG), (INTC), (JKHY), (LEND), (MSFT), (NDAQ), (PSUN), (PALM), (Rost, (RIMM), (SPLS), (SSCC), (TRMB), (YHOO), (ZUMZ), (QQQQ); Susquehanna Financial Group And/Or Its Affiliates Together Own More Than 1% Of The Shares Of (BSC), (BIDU),(CROX), (CME), (DNDN), (LEND), (NMX),(PALM), (RIMM), (MA), (FCX); Susquehanna Financial Group Has Provided Advisory Services To (AEO); Susquehanna Financial Group Has Provided Advisory Services To (GYMB)