Although Miley Cyrus isn’t exactly Debbie Harry and you rarely do “The Hustle” anymore, there are distinct parallels between the 1970’s and now.
Don’t believe it? Oil is surging to record levels, gold is trading above $800 and war is raging in the Middle East.
In fact, there's enough malaise to make you want to grow your hair long and listen to “Frampton Comes Alive” in your mom's basement again.
But take heart, there aren’t any gas lines… well not yet. And the 70’s did eventually lead to one of the best periods ever on Wall Street.
So go ahead and put on the polyester suit and platform shoes. Because the following two trades that worked then could work again.
Look at McDonald’s , counsels Guy Adami They had huge growth domestically during the 1970’s and appear poised to experience that same kind of growth again today, though this time it's international expansion.
And I like Ford too. They hit a home run with the Fiesta in 1976 and I think under CEO Alan Mulally, they’re headed in the right direction in 2008.
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Trader disclosure: On May 8, 2008, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders: Adami Owns (C), (GS), (INTC), (MSFT), (BTU), (AGU), (NUE); Najarian Owns (AAPL), (ENER), (TSO), (XLF), (BKC); Najarian Owns (AA) Calls, (EK) Calls, (MSFT) Calls, (BID) Calls, (YHOO) Calls, (C) Calls, Najarian Owns (BUD) Calls; Macke Owns (MSFT), (INTC), (ATVI); Finerman Owns (GS); Finerman's Firm And Finerman Owns (C) And (C) Leaps; Finerman's Firm And Finerman Own (HD), (KALU); Finerman's Firm Owns (YHOO) And (YHOO) Call Spreads; Finerman's Firm Owns SPX Index Puts; Finerman's Firm Owns (AEO), (MSFT), (NYX), (PLCE), (TSO), (VLO); Finerman's Firm Is Short (IYR), (MDY), (IWM), (SPY), (IJR)