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Ease The Squeeze: The Trade

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The Federal Reserve is coordinating with other central banks to ease the global credit squeeze. Is there a trade?

What the Fed did Wednesday morning by coordinating with global central banks gives the market more liquidity and more flexibility, says Tim Seymour on CNBC's "Closing Bell." I don't understand why it sold-off late afternoon.

In any event, I think the emerging market play right now is Russia, he adds, because it’s the cheapest on a valuation basis.

Seymour also likes China, Brazil and India. Brazil announced that their GDP for Q3 was 5.7% higher than expected and they’re guiding higher, he explains. Also India is projecting 9% growth next year. I think there could be an opportunity for emerging markets to outperform, but they will be vulnerable to swings.

> Read more:Trader Talk with Bob Pisani

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Trader disclosure: On Dec. 12, 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 (ATVI), (YHOO), (INTC); Najarian Owns (CSCO), (ADCT); Najarian Owns (GOOG) Options, (GS) Options, (TSO) Options, (YHOO) Options, (BIIB) Options; Finerman's Firm And Finerman Own (GS), (FTWR); Finerman's Firm Owns (VLO), (SUN), (YHOO), (TSO); Finerman's Firm Owns (MDY) Puts And Is Short (MDY); Finerman's Firm Is Short (SPY), (IJR), (IYR), (IWM), (MBI); Finerman's Firm Is Short (LEH) And Owns (LEH) Puts; Finerman's Firm Owns (BIIB) Options; Finerman's Firm Owns Russell 2000 Puts; Finerman's Firm Owns S&P 500 Puts; CNBC Is A Service Of NBC Universal And Dow Jones; GE Is The Parent Company Of CNBC; NBC Universal Is The Parent Company Of CNBC; Vivendi Owns 20% Of NBC Universal, The Parent Company Of CNBC