Sometimes a sharp sell-off like the one we saw on Thursday is the best time to go bargain hunting.
While everyone else was in panic mode the traders went cherry-picking.
Here's some of what they grabbed during the mayhem:
Karen Finerman: I bought Hewlett Packard and TJX and tried to buy IBM and Flowserve but couldn’t get any.
Pete Najraian: I also bought Hewlett-Packard but sold calls against it.
Guy Adami: If you’re making a shopping list look at Thursday’s intra-day lows on stocks that you like. The market have have just shown you where support is.
Gary Kaminksy: In the aftermath I expect to see investors put more money into non-single stock products such as ETFs. That should benefit firms such as BlackRock.
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Trader disclosure: On May 6, 2010, 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 (GS), (INTC), (BTU), (NUE), (MSFT), (AGU), (C); Najarian Owns (C) Calls; Najarian Owns (CAT); Najarian Owns (CLF) Call Spread; Najarian Owns (HPQ), Is Short (HPQ) Calls; Najarian Owns (MS), Is Short (MS) Calls; Najarian Owns (PG) Calls; Najarian Owns (XOM) Call Spread; Grasso Owns (SDS), (NDAQ), (DYN), (LPX), (ASTM), (ABK), (BAC), (BGP), (C), (JPM), (NEM), (PRST), (PFE), (BA), (T), (CSCO); Finerman's Firm Is Short (IYR), (IWM), (MDY), (SPY); Finerman's Firm Is Long S&P Puts; Finerman Owns (AAPL); Finerman's Firm Owns (BAC), (BAC) Leaps; Finerman Owns (BAC) Preferred, (BAC), (BAC) Calls; Finerman Owns (GS) Calls; Finerman's Firm Owns (IBM); Finerman's Firm And Finerman Own (JPM); Finerman's Firm Owns (KFT); Finerman's Firm Owns (MCD); Finerman's Firm And Finerman Own (RIG), (RIG) Calls; Finerman's Firm Owns (TJX), (TGT), (WMT); Kinahan Is Short (SPY); Kinahan Is Short (XLF); Kinahan Is Long (KFT) Through Options; Terranova Is Long Gold; Terranova Owns (SWN), (PFE), (XCO); Stutland Is Long (XLF) Strangle, Is Short (XLF) Calls
For JoeTerranova
Terranova Works For (VRTS)
Terranova Is Chief Market Strategist Of Virtus Investment Partners, Ltd.
Virtus Investment Partners Owns More Than 1% Of (AMKR)
Virtus Investment Partners Owns More Than 1% Of (IGE)
Virtus Investment Partners Owns More Than 1% Of (DBV)
Virtus Investment Partners Owns More Than 1% Of (XLB)
Virtus Investment Partners Owns More Than 1% Of (XLV)
Virtus Investment Partners Owns More Than 1% Of (XLP)
Virtus Investment Partners Owns More Than 1% Of (XLY)
Virtus Investment Partners Owns More Than 1% Of (XLI)
Virtus Investment Partners Owns More Than 1% Of (XLU)
Virtus Investment Partners Owns More Than 1% Of (DRYS)
For Steve Grasso
Stuart Frankel And Its Partners Own (AMR)
Stuart Frankel And Its Partners Own (BAX)
Stuart Frankel And Its Partners Own (DYN)
Stuart Frankel And Its Partners Own (CUBA)
Stuart Frankel And Its Partners Own (GERN)
Stuart Frankel And Its Partners Own (HSPO)
Stuart Frankel And Its Partners Own (MERC)
Stuart Frankel And Its Partners Own (NWS.A)
Stuart Frankel And Its Partners Own (NYX)
Stuart Frankel And Its Partners Own (PDE)
Stuart Frankel And Its Partners Own (PFE)
Stuart Frankel And Its Partners Own (PRST)
Stuart Frankel And Its Partners Own (RDC)
Stuart Frankel And Its Partners Own (TLM)
Stuart Frankel And Its Partners Own (TRV)
Stuart Frankel And Its Partners Own (XRX)
Stuart Frankel And Its Partners Own (SDS)
Stuart Frankel And Its Partners Are Short (QQQQ)
Stuart Frankel And Its Partners Are Short (CL)
Stuart Frankel And Its Partners Are Short (AAPL)
For Brian Kelly
Kanundrum Capital Is Long U.S. Dollar
Kanundrum Capital Owns (TLT)
Kanundrum Capital Owns (GLD)
Kanundrum Capital Owns (GFI)
Kanundrum Capital Owns (AUY)
Kanundrum Capital Owns (LPS)
Kanundrum Capital Owns (CCI)
Kanundrum Capital Is Short (DE)
Kanundrum Capital Is Short (NUE)
Kanundrum Capital Is Short (XOM)
Kanundrum Capital Is Short (SU)
Kanundrum Capital Is Short (HES)
Kanundrum Capital Is Short (AA)
Kanundrum Capital Is Short (CLF)
Kanundrum Capital Is Short (IBM)
Kanundrum Capital Is Short (BCS)
Kanundrum Capital Is Short (DB)
Kanundrum Capital Is Short (MCO)
For Anthony Scaramucci
Scaramucci Owns (C), Skybridge Owns (C)
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