Obviously the trouble is in the financials. But I think you need to be more forward looking, says Guy Adami. It might be time to circle out of ag names and get into financials.
Keep an eye on the Financial Select Sector SPDR , counsels Pete Najarian. But it’s the energy stocks that have been moving the S&P. I like ConocoPhillips in the space.
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Trader disclosure: On Apr. 22, 2008, 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 (YHOO), (MSFT), (INTC); Finerman Owns (GS); Finerman's Firm Owns (DAI), (MSFT), (NYX), (TSO), (VLO), (YHOO); Finerman's Firm Is Short (IYR), (IJR), (MDY), (IWM), (SPY),(COF); Najarian Owns (AAPL), (ENER), (NOK), (TSO), (XLF), (YHOO), (EMC); Najarian Owns (BHI) Calls, (DD) Calls, (MSFT) Calls, (POT) Calls, (CHK) Calls; Charles Schwab Is A Sponsor Of "Fast Money"