Bank stocks jumped on Wednesday after Ben Bernanke suggested the Fed would keep rates low for an extended period of time soothing concerns from last week that the central bank was turning more hawkish.
What must you know?
As compared to European banks, pro investors think US banks look like the most conservatively run and the yield curve looks to be in their favor, explains Gary Kaminsky. The US banks have been acting better and I think they will continue to act better.
I like Citi and JPMorgan, adds Brian Kelly of Kanundrum,. These are good banks with good core businesses. I would not, however, put money into Goldman , he adds. They’re facing headwinds.
I like Deutsche Bank for valuation, adds Tim Seymour. With a P/E of 7.5 times next year they’re growing their top line EPS. And Deutsche doesn’t have the exposure to Greece that people think it does.
* The Halftime Report was abbreviated on Wednesday due to CNBC's coverage of the Bernanke testimony. But nothing stops the Fast Money traders from getting you the plays you need. They taped a special Web Extra for you mid-day. Click here to watch it now!
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Trader disclosure: On February 24th, 2010, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Kaminsky Owns (EPV); Adami Owns (AGU), (C), (GS), (INTC), (MSFT), (NUE), (BTU); Pete Najarian Owns (CMC) Call Spread; Pete Najarian Owns (NFLX) Put Spread; Terranova Owns (IBM), (QCOM), (GOOG), (EMC), (AAPL), (DELL), (MSFT); Terranova Is Long April Crude Oil Futures; Terranova Owns (GLD) March Puts; Terranova Is Long Dec. 2010 Crude Oil Futures; Seymour Owns (X); Kelly Owns (HOV) Calls; Kelly Owns (FXE) Puts
Kelly Owns (HOV) Calls; Kelly Owns (AMZN) Calls; Kelly Owns (FXE) Puts’ Kelly Owns (ELX) Call; Kelly Owns (QLGC) Calls; Finerman's Firm Is Long S&P Puts; Finerman Owns (TM); Finerman's Firm And Finerman Own (CVS); Jon Najarian Owns (CROX), (CROX) Calls
For Tim Seymour:
Seygem Asset Management Owns (FCX) Puts
Seygem Asset Management Owns (POT) Calls
For Joe Terranova
Terranova Works For (VRTS)
Terranova Is Chief Market Strategist Of Virtus Investment Partners, Ltd.
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 (EXR)
Virtus Investment Partners Owns More Than 1% Of (IGE)
Virtus Investment Partners Owns More Than 1% Of (XLY)
Virtus Investment Partners Owns More Than 1% Of (DBV)
Virtus Investment Partners Owns More Than 1% Of (XLP)
Virtus Investment Partners Owns More Than 1% Of (XLB)
Virtus Investment Partners Owns More Than 1% Of (XLI)
Virtus Investment Partners Owns More Than 1% Of (SKT)
For Brian Kelly:
Kanundrum Capital Owns (C)
Kanundrum Capital Owns (JPM)
Kanundrum Capital Is Short March Copper Futures
Kanundrum Capital Is Short July Copper Futures
Kanundrum Capital Is Short Euro
Kanundrum Capital Is Short Japanese Yen
Kanundrum Capital Is Short Singapore Dollar
Kanundrum Capital Is Short British Pound
Kanundrum Capital Is Long U.S. Dollar
Kanundrum Capital Is Long U.S. Dollar
Kanundrum Capital Is Short U.S. Treasuries
Kanundrum Capital Owns (GLD)
Kanundrum Capital Owns (GDXJ)
Kanundrum Capital Owns (HOV)
Kanundrum Capital Owns (PHM)
Kanundrum Capital Owns (TOL)
Kanundrum Capital Owns (ELX)
Kanundrum Capital Owns (QLGC)
Kanundrum Capital Owns (VMW)
Kanundrum Capital Owns (EMC)
Kanundrum Capital Owns (EWP)
Kanundrum Capital Owns (NBG)
Kanundrum Capital Is Short (GRMN)
Kanundrum Capital Is Short (FCX)
Kanundrum Capital Is Short (TAO)
CNBC.com with wires
