Trillion Dollar Man

Remember the Million Dollar Man? Well, Barack Obama is laying the groundwork for a stimulus package that could well make him the Trillion Dollar Man!

In an early test of executive office influence, the President-elect is trying to generate momentum for a giant economic stimulus package, possibly $850 billion over two years.

Obama aides cautioned that they have not settled on a specific grand total. But they noted that economists from across the political spectrum have recommended spending similar or even larger amounts to jolt the worsening economy.

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Obama's Shock & Awe Stimulus: GDP In 2010

Without Stimulus -1.6%

With Stimulus +1.9%

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As you might know, Obama's plan is expected to focus on repairing roads and bridges, making government buildings energy-efficient, building and renovating schools and adopting environmentally friendly technologies.

There could also be some form of tax relief with tax cuts aimed at middle- and lower-income taxpayers.

In addition, Obama is also expected to seek additional funds for food stamps and other nutrition programs, health insurance, unemployment insurance and job training programs.

With so much money about to be spent, how should you trade?

According to Zach Karabell, the stimulus combined with recent Fed actions should heat-up the economy. Also he expects a weaker dollar which makes American goods and services cheaper around the world.

Before the show Karabell told our producers that he recommends trading the trend with a basket of industrial and commodity stocks or buying ETFs such as the iShares S&P Global Industrials Sec ETF (EXI), the iShares S&P Global Mat. Sector Inde ETF (MXI), the SPDR S&P Semiconductor ETF (XSD), the iShares Dow Jones US Oil Equip ETF (IEZ) or the CurrencyShares Euro Trust ETF (FXE)

Also, he says Cisco (CSCO) could be winner.

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Trader disclosure: On Dec. 18th, 2008, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders Adami Owns (AGU), (BTU), (C), (GS), (INTC), (MSFT), (NUE); Pete Najarian Owns (RIMM) Call Spread; Pete Najarian Owns (UYG) And Is Short (UYG) Calls; Pete Najarian Owns (HIG) Calls And Is Short (HIG); Pete Najarian Owns (PCLN) Call Spread; Finerman's Firm Owns (IBB), (MSFT), (UNH), (WLP), (AET); Finerman's Firm Owns (ROH) Calls; Finerman's Firm Owns (OIH) Puts; Finerman's Firm Is Short (IYR), (IJR), (MDY), (SPY), (IWM), (BBT), (USO)

Terranova Is Co-Portfolio Manager Of The Virtus Diversifier PHOLIO: Virtus Diversifier PHOLIO Owns (IGE), (DBC), (DBV)

Terranova Is Chief Alternatives Strategist Of Virtus Investment Partners, Ltd.: Virtus Investment Partners Owns More Than 1% Of (ABD), (ARE), (BIG), (OFC), (DLR), (EXR), (IGE), (MAC), (DBC), (DBV), (SKT), (UA), (CLB); Virtus Investment Partners Owns More Than 1% Of Seagate Tax Refund Rights

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