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Tomorrow's Headlines, Right Now

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BE CAREFUL WHAT YOU WISH FOR

Investors are calling on Ben Bernanke to cut interest rates at The Fed's next meeting on September 18th in order to save the bull market. However, they should be careful what they wish for. History shows that rate cuts actually are not good for stocks because they are indicative of a weak economy and profits.

Jeff Macke says it’s foolish to think a rate cut is a panacea. He doesn’t think The Fed can solve the credit crunch problem quickly or easily.

Guy Adami feels the less The Fed says the better the market will be.

Pete Najarian agrees.

Karen Finerman reminds the panel that the market was in a similar situation in 1998, then The Fed made a surprise rate cut and it was, in fact, a panacea.

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S&P 500
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TAKE TWO NAJARIANS AND CALL ME IN THE MORNING

We told you correctly that buying technology stocks was a safe haven during the recent market turmoil and now another sector may be emerging for the fall.

Big Pharma

Pete Najarian likes Merck (MRK) in the Big Pharma sector as well as Bristol Myers (BMY)and Eli Lily (LLY).

Jon Nararian explains his attraction to these stocks is two fold; a flight to quality and their promising drug pipeline.

Biotech

Pete Najarian feels Amgen (AMGN) and Genentech (DNA) have completely under-performed in the last 52-weeks and suggests they’re going to move soon. Also, he recommends taking a long look at Biogen (BIIB) as well as Amylin (AMLN).

Guy Adami likes Biogen, as well.

Jeff Macke prefers Genentech.

Jon Najarian tells the panel he thinks Dendreon (DNDN) and Salix Pharmaceutical (SLXP) could be moving lower.

On a related note, Karen Finerman asks who might buy Biogen. Guy Adami speculates that Pfizer could buy it.

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EME
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DTST
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BMY
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DNDNQ
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LLY
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MRK
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SLXP
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A NEW GLOBAL GROWTH PLAY

We've told you about many global growth plays on Fast Money but Karen Finerman has an undercover one you may not have thought of.

Finerman explains to the panel her play is Estee Lauder (EL) because 52% of their exposure is in Asia. She also likes that in recent years they’ve changed their distribution. She feels it’s an interesting play on the global economy.

Dylan Ratigan adds that when investors think of global growth they should always keep in mind the smaller things, too.

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EL
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Trader disclosure: On Sept, 5, 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 (INTC); Pete Najarian Owns (BMY); Pete Najarian Is Short (GS); Finerman Owns (GS); Finerman's Firm Owns (KFT), (WMT); Finerman's Firm Owns Russell 2000 Puts; Finerman's Firm Owns S&P 500 Puts;

Jon Najarian Owns (DNA), (MRK), (DNDN); Jon Najarian Is Short (SLXP)