On February 27, 2007 stocks that trade in China slid 8.8% overnight. It was the worst 1-day sell-off in a decade, explains Dylan Ratigan. Where do we stand, today?
I think if the Dow can hold it’s current levels, it’s probably very bullish for China, says Pete Najarian.
I agree, Jeff Macke adds.
Flowserve (FLS) is worth a look, adds Karen Finerman, as an American company with exposure to China.
It’s ironic, says Tim Seymour, we thought China would throw the US into contagion, and it happened to be the reverse.
On a related note, Seymour thinks investors should check out Taiwan plays including iShares MSCI Taiwan Index (EWT)United Microelectronics Corp (UMC),Chunghwa Telecom Co (CHT), and Taiwan Semiconductor (TSM).
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Trader disclosure: On Feb.27, 2008, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders: Najarian Owns (XTO) Calls, (JEF) Calls, (CNET) Calls, (BIIB), (C), (CSCO), (MS), (MSFT), (XLF), (YHOO) Calls; Macke Owns (INTC), (DIS), (ATVI); Seymour Owns (AAPL), (CSCO), (INTC), (MER), (MSFT), (SHLD), (TSO);Seygem Asset Management Owns (INFY), (EWT), (AUO), (UMC), (TSM), Gazprom, Is Short (PBR); Finerman Owns (HD), (GS), (LOW); Finerman’s Firm Owns (FNM), (MSFT), (YHOO), (WMT), Is Short (IYR), (IJR), (IWM), (SPY), (MDY), (LEH), Finerman’s Firm and Finerman Own (FLS)
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