Trading Buzz From The Bar

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Earnings season kicks off Tuesday and it promises to be anything but tame. In the Happy Hour find out the trading buzz from the bar.

Keith O'Malley is a trader with Hold Brothers and he joins the panel for this conversation. Here are excerpts from what was said.

How are you trading ahead of Fed minutes being released Tuesday?

The Fed minutes are going to indicate the rest of the month, says O'Malley. We get minutes from September and also August. Personally, I think the Fed is going to say “won and done” and I’m planning to short financials.

Pete Najarian agrees. He doesn’t think there’s anything that suggests the Fed neets to cut rates again.

Are you looking at anything else?

Also, I’m looking at earnings as they come in. I’m looking for solid companies that have proven records and often beat estimates. I like Cisco (CSCO) and Fluor Corp (FLR).

Symbol
Price
 
Change
%Change
CSCO
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FLR
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Trader disclosure: On Oct 8, 2007, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders: Najarian Owns (VCLK), Najarian Owns (GOOG) Calls: Seygem Asset Management Owns (AA), (AAPL), (EEM), (GLD), (MSFT), (TIE), (CX), (ITU): Stacey 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; Gilbert Owns (TIE); Susquehanna Financial Group Owns More Than 1% Of (AAPL), (AKS), (BSC), (FCX), (GOOG), (GRMN), (NYX), (PALM), (RIMM); Susquehanna Financial Group Is A Market Maker In (AAPL), (AMZN), (BOBJ), (CSCO), (CTCM), (CETV), (EEM), (EWZ), (EWH), (FXI), (GOOG), (GLD), (GRMN), (MSFT), (PALM), (RIMM), (TRMB), (TLAB), (YHOO)