Top trader Tim Seymour has a hot stock on his radar, but he's cautios despite a recent earnings report which showed company's profits surged a whopping 80%!
Specifically the Fast Money Ambassador is watching Internet giant Baidu which said spending by large customers was significantly better than it expected in the third quarter - and as a result Baidu predicted it would generate similar gains in during the final three months of the year.
As strong as the company appears – appearances may be deceiving.
"The company beats almost every time and that's why investors are willing to pay such a lofty valuation," he says. "But more important Baidu has been range bound between $120 and $160 for the past 6-months. I’d be careful,” he says.
The Ambassador also has Las Vegas Sands on his radar after the casino posted better-than-expected revenue in Asia.
”The opportunity for the Vegas buys has been Macau,” concedes Seymour. “But on the charts LVS looks like it runs out of gas around $50.”
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On Oct 28, 2011, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s "Fast Money" were owned by the "Fast Money" traders; P. Najarian is long AAPL; P. Najarian is long C; P. Najarian has long WFC calls; P. Najarian is long MS; P. Najarian is long INTC; P. Najarian is long MSFT; P. Najarian is long YHOO; P. Najarian is long MRK; J. Najarian is long short calls in BAC; J. Najarian is long short calls in PNC; J. Najarian is long short calls in GS; J. Najarian is long short calls in MS; J. Najarian is long short calls in IBM; J. Najarian is long short calls in YHOO; J. Najarian is long short calls in BIDU; J. Najarian is long short calls in WYNN; J. Najarian is long short calls in FSLR; J. Najarian is long CBOE; J. Najarian is long CME; J. Najarian is long CIGX; Edwards is long XLK; Grasso owns AA; Grasso owns AKS; Grasso owns ASTM; Grasso owns BA; Grasso owns BAC; Grasso owns D; Grasso owns KEG; Grasso owns LIT; Grasso owns MHY; Grasso owns PFE; Grasso owns S; Grasso owns XLU; Doolittle is long SSO; Doolittle is short SDS
For Patty Edwards
Trutina Financial is long WLT
Trutina Financial is long GLD
Trutina Financial is long LEG
Trutina Financial is long HLF
Trutina Financial is long ED
Trutina Financial is long AAPL
Trutina Financial is long QCOM
For Steve Grasso
Stuart Frankel & Co and its partners own (CSCO)
Stuart Frankel & Co and its partners own (CUBA)
Stuart Frankel & Co and its partners own (GERN)
Stuart Frankel & Co and its partners own (HPQ)
Stuart Frankel & Co and its partners own (HSPO)
Stuart Frankel & Co and its partners own JPM
Stuart Frankel & Co and its partners own MET
Stuart Frankel & Co and its partners own MSFT
Stuart Frankel & Co and its partners own MU
Stuart Frankel & Co and its partners own (NYX)
Stuart Frankel & Co and its partners own (PFE)
Stuart Frankel & Co and its partners own (PRST)
Stuart Frankel & Co and its partners own UAL
Stuart Frankel & Co and its partners own XRX
For Tim Seymour
No disclosures
For Larry McDonald
No disclosures
For Ron Insana
No disclosures
For Camilla Sutton
No disclosures
For Dan Berenbaum
No disclosures
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