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Quick And The Dead Tech Trades

As we’ve been telling you, there’s no better market for making fast money than a bear market. But you have to be quick or you’ll end up dead.

That’s because in this environment stocks can swing violently in either direction every time the wind changes. As Pete Najarian so often says, “If you get gains of 5% to 10% make sure to take profits because it can go in the other direction pretty quickly.”

And that made us wonder, what stocks do the traders currently like for a bounce? And for that matter when should you take profits and when should you cut your losses?

Hewlett Packard

Symbol
Price
 
Change
%Change
HPQ
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Take Profits - $53
Cut Your Losses - $44

The EDS acquisition should allow H-P to win marketshare from IBM, says Pete Najarian. I think there’s all kind of upside.

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Research In Motion

Symbol
Price
 
Change
%Change
BB
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Take Profits - $110
Cut Your Losses - $94.75

I think investors can get long RIMM at current levels, says Jeff Macke. It has a nice history of bouncing higher from here.

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Oracle

Symbol
Price
 
Change
%Change
ORCL
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Take Profits - $22
Cut Your Losses - $18

I think they’re the best M&A firm on the planet, says Guy Adami. I’d get long ahead of earnings and hope they beat.

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Microsoft

Symbol
Price
 
Change
%Change
MSFT
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Take Profits – Long Term Buy
Cut Your Losses - $25

It’s ridiculously cheap, muses Karen Finerman. What else is there to know?!

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Trader disclosure: On Sept 9, 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 (MSFT), (WMT), (UUP); Adami Owns (AGU), (BTU), (C), (GS), (INTC), (MSFT), (NUE); Najarian Owns (ETFC); Najarian Owns (AAPL) And (AAPL) Collar; Najarian Owns (LEH) Puts And (LEH) Put Spreads; Najarian Owns (RIMM) Call Spread; Najarian Owns (XLF) And (XLF) Collar; Finerman Owns (GS); Finerman's Firm Owns (GE), (MSFT), (SUN), (TSO), (VLO); Finerman's Firm Is Short (WB), (WFC), (XLF), (IYR), (IJR), (MDY), (SPY), (IWM), (BBT), (COF), (BAC); GE Is The Parent Company Of CNBC; NBC Universal Is The Parent Company Of CNBC