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Buy Foreign Markets On U.S. Dip?

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The dip in US markets may have unfairly beaten down shares around the world. What’s your best "buy on the dip" play in emerging markets?

Tim Seymour feels foreign markets will continue to grow as the dollar weakens.

Brazil

Tim recommends buying Banco Itau Holding Financeira S.A (ITU) and Banco Bradesco S.A. (BBD) as bank plays in Brazil.

Russia

If you’re interested in playing growth in Russia, Tim Seymour recommends Mobile TeleSystems (MBT) or Vimpel-Communications (VIP).

Symbol
Price
 
Change
%Change
BBDC'
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MBT
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VEON
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Trader disclosure: On Nov. 2, 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), (INTC), (ATVI), (YHOO); Finerman's Firm And Finerman Own (C), (GS), (HD)Finerman's Firm Owns (KSS), (NMX), (TSO), (WMT), (YHOO), (TWX), (NYX), (PLCE), (BBW);Finerman's Firm Is Short (SPY), (IWM), (MDY); Finerman's Firm Owns Russell 2000 Puts; Finerman's Firm Owns S&P 500 Puts; Finerman's Firm Is Short (MER) And Owns (MER) Puts; Finerman's Firm Owns (MSFT) Options; Finerman's Firm Owns (NMX) And (NMX) Options; Finerman's Firm Owns (SHOO) Calls; Finerman's Firm And Finerman Owns (FLS); Finerman's Firm And Finerman Own (KALU); Seygem Asset Management Owns (AAPL), (CTCM), (INTC), (MSFT), (TIE), (USU), (YHOO), (GLD), (ITU), (ABV), (TEO), (MER), (MBT); Seymour Owns (IMMR) Calls