Fast Money scours the country to find the post-game chatter in the nation’s most popular hangouts. Ned Riley joins the traders from the World Series at Fenway Park in Boston.
Riley expressed continued bullishness, particularly in financials and tech. He predicted that the Fed will not only cut rates next week, but could end up cutting by 100 basis points by the first quarter. That, coupled with low inflation and excessive pessimism, will drive the market higher, he said.
He recommended the (XLF) as a trade on the banks when the Fed cuts rates.
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Trader disclosure: On Oct 25, 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 (INTC), (ATVI), (EMC), (YHOO); Najarian owns (UA), (DISH), (GOOG), (YHOO), (MSFT) Options; Finerman’s firm and Finerman own (GS); Finerman’s firm owns Russell 2000 Puts, S&P 500 Puts, (NMX), (NYX), (MSFT), (BEAS), is short (BIG), (MER); Finerman owns (C)
Ned Riley owns (XLF), (XLK), (QQQQ), (SPY), (BAC) Options