No.1 - Preserve Your Reserves

In a tumultuous tape like this, could consumer product companies help you preserve your returns? Tupperware’s (TUP) stock surged 23% to a 10-year high on earnings Wednesday. Also, Clorox (CLX) reports Thursday and Procter and Gamble (PG) comes out Friday. Is this the way to go?

Jeff Macke says PG is a buy in this tape. He explains that the consumer products space provides the kind of stability he wants in a volatile market environment.

Guy Adami also likes PG for the way the company is integrating Gillette.

Pete Najarian concurs. He also likes Colgate (CL).

Eric Bolling recommends buying the Consumer Staples Select Sect. SPDR (XLP).

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Trader disclosure: On Aug 1st 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 (DIS),(ATVI) Najarian Owns (GS), Bolling Owns (DIS), (T), Bolling Has Closed Out Of His Short S&P Futures Trade, Bolling Has Closed Out Of His Short Nasdaq Futures Trade