Jeff Macke thinks the financials would be down double digits without The Fed.
Pete Najarian agrees that there’s nervousness. He feels dividend yielding stocks, as well as pharma and biotech are starting to become more attractive. He also likes select tech names such as Cisco, (CSCO) and Intel (INTC).
Guy Adami thinks this environment gives investors a great opportunity to own select quality names. He likes GlaxoSmithKline (GSK), Fluor (FLR), Juniper (JNPR) and Network Appliance (NTAP).
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Trader disclosure: On Aug 20 2007, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money; Macke Owns (DIS), (JWN); Najarian Owns (ATML); Najarian Is Short (GS) Najarian Owns S&P Puts; Stacey Briere Gilbert Is Chief Options Strategist For Susquehanna Financial Group, LLLP; Gilbert Is Head Of Market Intelligence Research For Susquehanna Financial Group, LLLP; Gilbert Does Not Cover Individual Securities But Does Recommend Trading Strategies
Susquehanna Financial Group Is A Market Maker In (ATML), (BIDU), (CROX), (DNDN) (FSLR), (FXI) (GYMB), (GRMN), (GOOG), (INTC), (JKHY), (LEND), (MSFT), (NDAQ), (PSUN), (PALM), (Rost, (RIMM), (SPLS), (SSCC), (TRMB), (YHOO), (ZUMZ), (QQQQ); Susquehanna Financial Group And/Or Its Affiliates Together Own More Than 1% Of The Shares Of (BSC), (BIDU),(CROX), (CME), (DNDN), (LEND), (NMX),(PALM), (RIMM), (MA), (FCX); Susquehanna Financial Group Has Provided Advisory Services To (AEO); Susquehanna Financial Group Has Provided Advisory Services To (GYMB)