Does the potential of stronger than expected results present any buying opportunities in the sector?
On Fast Money’s Halftime Report Christopher Zook of CAZ Investments said he didn't think so because strong results were already baked into share price.
So where’s the opportunity?
It may present itself if some banks miss especially if a miss drags down the broader market.
And if that should happen Zook tells Fast Money on the 5p show he’s a buyer of commodities on dips because longer-term there should be an increased demand for what Dennis Gartman calls “things that hurt if you drop them on your foot.”
Zook’s Ways To Play
Buy Commodities (Gold , Copper)
Buy Oil Service HOLDRs ETF
Buy Energy Names
Christopher Zook also has some thoughts on other sectors such as healthcare. See the entire interview. Watch the video above!
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Trader disclosure: On July 10th, 2009, 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), (C), (GS), (INTC), (MSFT), (NUE), (BTU); Finerman's Firm Owns (MSFT), (PBR); Finerman's Firm And Finerman Own (BAC) Preferred Shares; Finerman's Firm And Finerman Own (RIG); Finerman's Firm And Finerman Own (WFC) Preferred Shares, Finerman's Firm Is Short (WFC); Finerman's Firm Is Short (SPY), (USO), (BWA), (IYR), (IJR), (MDY), (SPY), (IWM); Finerman's Firm And Finerman Own (FLS); Seymour Owns (TSO); Terranova Owns (TER), (FTO), (SUN), (RIMM), (MSFT); GE Is The Parent Company Of CNBC
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), (DBC), (DBV); Virtus Investment Partners Owns More Than 1% Of (ABD), (CBL), (CAL), (CLB), (DLR), (EXR), (IGE), (MEE), (DBC), (DBV), (DBA), (SKT), (TNB), (UA), (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
For Christopher Zook
Zook, His Firm, And Its Funds Are Short S&P 500 Futures
Zook, His Firm, And Its Funds Are Short (SPY)
Zook, His Firm, And Its Funds Are Long Australian Dollar
Zook, His Firm, And Its Funds Are Long New Zealand Dollar
Zook, His Firm, And Its Funds Are Long Wheat