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No. 2 - Call For Help

Not interested in our conventional defensive play of consumer companies? Well here’s an unconventional play! No sector has been working better in this jittery market than wireless telecom. Amidst all the turmoil, can you find a safe haven in the palm of your own hand?

Pete Najarian says the trade is Alvarion (ALVR) – the biggest player in the WiMAX sector. He also likes FiberTower Corp (FTWR) which is a trade first introduced to the panel by Karen Finerman.

Guy Adami likes Research In Motion (RIMM).

Eric Bolling recommends AT&T (T) because the stock holds its own in a down market.

Dylan Ratigan explains the Telecom HOLDRS (TTH) provides a basket of telecom stocks which can be attractive to investors who want to spread out risk.

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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