Stocks tumbled again Wednesday, and the S&P 500 hit a new low for the year as the latest data triggered more pessimism about the economic outlook.
With so much uncertainty in the market, investors are desperate for stocks that will perform in the face of so many negative catalysts.
So what is the best way to find shelter in this economic storm?
Fast trader Patty Edwards said her favorite slow money play is Philip Morris International .
“It’s 100 percent international sales,” she said. “You are really playing on the emerging markets.”
She also likes its 3.7 percent yield, adding “It’s up about 21 percent year-to-date and I expect that to continue.”
MEDIA EARNINGS BEAT ESTIMATES
Media heavyweights CBS , Comcast and Time Warner all recently reported earnings that beat analysts’ estimates.
That had some on the Street wondering if the time is right to get into some of these media names.
Larry Haverty, associate portfolio manager of the Gabelli Global Multimedia Trust told the Fast traders Wednesday he’s bullish on CBS and Comcast.
To see his full interview, watch the video below!
MasterCard shares surged to new highs Wednesday after the credit card company delivered better than expected earnings.
But do those strong earnings make MasterCard a buy?
Watch the video to see how the Fast team trades it.
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Trader disclosure: On Aug 3, 2011, 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 (AAPL); Najarian owns (C); Najarian owns (MS); Najarian owns (TCK); Najarian owns (AAPL) calls; Najarian owns (SLV) calls; Najarian owns (GLD) calls; Najarian owns (BX) calls; Najarian owns (V) calls; Najarian owns (UNP) calls
For Zach Karabell
Rivertwice Capital & Karabell own (AAPL)
Rivertwice Capital & Karabell owns (GOOG)
Rivertwice Capital & Karabell owns (GS)
Rivertwice Capital & Karabell owns (AGQ)
For Patty Edwards
Edwards Owns (AMZN) For Clients
Edwards Owns (AAPL) For Clients
Edwards Owns (GOOG) For Clients
Edwards Owns (V) For Clients
Edwards Owns (KMP) For Clients
Edwards Owns (WDFC) For Clients
Edwards Owns (ERF) For Clients
Edwards Owns (BMO) For Clients
Edwards Owns (HNZ) For Clients
Edwards is long Gold For Clients
Edwards is long Silver For Clients
Comcast Is The Parent Company Of NBCUniversal
Comcast Is The Parent Company Of CNBC
GE Owns 49% Of NBCUnivesral
GE Owns 49% Of CNBC
CNBC.com with wires.