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Trading Like Joe Theismann

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You probably know Joe Theismann as the starting quarterback who led the Washington Redskins to Super Bowl victory in the 1980's. But did you know that Theismann is also a shrewd businessman as well as intrepid trader.

So we couldn’t help but wonder, how’s positioned during these tenuous times?

Thiesmann told Fast Money that he’s watching the weather world and specifically hurricane season for trading ideas. Because a bad storm could disrupt drilling in the Gulf Of Mexico, Theismann is bullish of nat gas and he’s playing it with the UNG – the nat gas ETF.

Also he’s playing technology with Palm. Although he’s traded in and out of this stock he tells the desk he was a buyer on Friday under $15. Thiesmann, like fellow football pro Pete Najarian, also thinks Palm is a takeover target. He also told us he likes Rambus in the space.

That's not to say he's a bull with blinders. Theismann is bearish of banks because of ongoing uncertainty in the sector and is gaming his thesis with the ProShares UltraShort Financials.

* You may have noticed that Theismann suggests playing the stock market game with some ETFs. He tells Fast Money he likes ETFs because, “it broadens the basket.”

In other words, he prefers being diversified. “That way, I’m not locked up in one thing. I’m not vulnerable to CEOs being led off to jail. I’m protected by 12, 14 or 30 other stocks.”


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Trader disclosure: On June 26th, 2009, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders: Seymour Owns (AAPL), (BAC), (EEM), (FXI), (NOK), (TSO), (TUR); Seygem Asset Management Is Short (RSX); Adami Owns (AGU), (C), (GS), (MSFT), (INTC), (NUE), (BTU); Najarian Owns (GS) Call Spreads; Najarian Owns (JPM) And Is Short (JPM) Calls; Najarian Owns (PALM) Call Spread; Najarian Owns (S) Calls; Najarian Owns (WFC) Put Spread; Najarian Owns (YHOO) Call Spread; Najarian Owns (ESI) Call Spread; Terranova Owns (TER), (XBI), (BTU), (ABT), (RIMM), (HES), (MS),(MSFT)

Terranova Works For (VRTS); Terranova Is Chief Alternatives Strategist Of Virtus Investment Partners, Ltd.; Terranova Is Co-Portfolio Manager Of The Virtus Diversifier PHOLIO; Virtus Diversifier PHOLIO Owns (IGE); Virtus Diversifier PHOLIO Owns (DBC); Virtus Diversifier PHOLIO Owns (DBV); Virtus Investment Partners Owns More Than 1% Of (ABD); Virtus Investment Partners Owns More Than 1% Of (CAL); Virtus Investment Partners Owns More Than 1% Of (CLB); Virtus Investment Partners Owns More Than 1% Of (DLR); Virtus Investment Partners Owns More Than 1% Of (EPR); Virtus Investment Partners Owns More Than 1% Of (EXR); Virtus Investment Partners Owns More Than 1% Of (IGE); Virtus Investment Partners Owns More Than 1% Of (MEE); Virtus Investment Partners Owns More Than 1% Of (DBC); Virtus Investment Partners Owns More Than 1% Of (DBV); Virtus Investment Partners Owns More Than 1% Of (DBA); Virtus Investment Partners Owns More Than 1% Of (SKT); Virtus Investment Partners Owns More Than 1% Of (UA); Virtus Investment Partners Owns More Than 1% Of (WBMD); Virtus Investment Partners Owns More Than 1% Of St Mary Land & Exploration Co; Virtus Investment Partners Owns More Than 1% Of Seagate Tax Refund Rights

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Theismann Owns (UYG), (UNG), (SKF), (PALM),(RMBS)


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