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More Slo-o-o-w Money: 3 Hot Stocks in a Cold Market

*We've updated this post with even more slow money plays.

Stocks ended higher on Wednesday, snapping a seven-day losing streak by the S&P 500, despite a handful of weak economic news, ongoing euro zone jitters and a possible US credit downgrade.

The action over the past several days has been volatile, to say the least. And that has many investors wondering where to put their money in such an uncertain market.

The Fast traders have some ideas on where you can find shelter, and maybe even make a few bucks over time. So what are their best slow money plays?

Steve Grasso likes Dominion Resources, which he pointed out went from approximately $41 a share to $48 since the Japan bottom.

And he’s putting his money where his mouth is.

“It’s yielding about 4.1 percent,” he said, “so I’m lying in there on a good portion of money.”

Tim Seymour is looking overseas to Telefonica SA for his slow money trade. This telecommunications company may be headquarted in Spain, but he said it gets most of its revenue from emerging markets.

Plus, he likes its 10 percent dividend yield.

“This is a $100 billion company that’s paying out almost $10 billion a year in dividends,” he said. “Even if their world was to change dramatically, this is a very healthy company.”

Seymour also thinks that current valuations are very cheap compared to what they historical have been.

“It’s been beaten down,” he said. “It’s paying you to be in this name right now.”

Patty Edwards' favorite slow money play is Philip Morris International .

“It’s 100 percent international sales,” she said. “You are really playing on the emerging markets.”

She also likes its 3.7 percent yield, adding “It’s up about 21 percent year-to-date and I expect that to continue.”


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Trader disclosure: On Aug 3, 2011, 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); Adami Owns (C); Adami Owns (GS); Adami Owns (INTC); Adami Owns (MSFT); Adami Owns (NUE); Adami Owns (BTU); Terranova owns (VRTS); Terranova owns (IBM); Terranova owns (FCX); Terranova owns (CVI); Terranova owns (AAPL); Terranova owns (GS); Terranova owns (BX); Terranova owns (XOM); Steve Grasso owns (AMD); Steve Grasso owns (ASTM); Steve Grasso owns (BA); Steve Grasso owns (BAC); Steve Grasso owns (C); Steve Grasso owns (D); Steve Grasso owns (JPM); Steve Grasso owns (LIT); Steve Grasso owns (LPX); Steve Grasso owns (LVS); Steve Grasso owns (MAR); Steve Grasso owns (MHY); Steve Grasso owns (NDAQ); Steve Grasso owns (PFE); Steve Grasso owns (PRST); Steve Grasso owns (UAL); Steve Grasso owns (XHB); Steve Grasso owns (XLB); Steve Grasso owns (XLI); Seymour owns (AAPL); Seymour owns (BAC); Seymour is short (FCX) ; Finerman owns (AAPL); Finerman owns (BAC); Finerman owns (JPM)

For Joe Terranova
Terranova is Chief Market Strategist of Virtus Investment Partners, LTD
Virtus Investment Partners Owns More Than 1% Of (ABAX)
Virtus Investment Partners Owns More Than 1% Of (AMKR)
Virtus Investment Partners Owns More Than 1% Of Building Materials Holdings
Virtus Investment Partners Owns More Than 1% Of (CASS)
Virtus Investment Partners Owns More Than 1% Of (CSVI)
Virtus Investment Partners Owns More Than 1% Of (EXR)
Virtus Investment Partners Owns More Than 1% Of (FCFS)
Virtus Investment Partners Owns More Than 1% Of (KRC)
Virtus Investment Partners Owns More Than 1% Of (LDR)
Virtus Investment Partners Owns More Than 1% Of (LHO)
Virtus Investment Partners Owns More Than 1% Of (NRCI)
Virtus Investment Partners Owns More Than 1% Of Sun Pharmaceutical Industries Ltd
Virtus Investment Partners Owns More Than 1% Of (DBV)
Virtus Investment Partners Owns More Than 1% Of (RLI)
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 (XLE)
Virtus Investment Partners Owns More Than 1% Of (XLF)
Virtus Investment Partners Owns More Than 1% Of (XLI)
Virtus Investment Partners Owns More Than 1% Of (XLK)
Virtus Investment Partners Owns More Than 1% Of (XLU)
Virtus Investment Partners Owns More Than 1% Of (SUBK)
Virtus Investment Partners Owns More Than 1% Of (WDFC)
Virtus Investment Partners Owns More Than 1% Of (YDNT)
Virtus Investment Partners Owns More Than 1% Of Domino's Pizza UK & IRL PLC

For Steve Grasso
Stuart Frankel & Co and its partners own (AAPL)
Stuart Frankel & Co and its partners own (CSCO)
Stuart Frankel & Co and its partners own (CUBA)
Stuart Frankel & Co and its partners own (GERN)
Stuart Frankel & Co and its partners own (HPQ)
Stuart Frankel & Co and its partners own (HSPO)
Stuart Frankel & Co and its partners own (MET)
Stuart Frankel & Co and its partners own (MU)
Stuart Frankel & Co and its partners own (NYX)
Stuart Frankel & Co and its partners own (PFE)
Stuart Frankel & Co and its partners own (PRST)
Stuart Frankel & Co and its partners own (SDS)
Stuart Frankel & Co and its partners own (UAL)
Stuart Frankel & Co and its partners own (XRX)
Stuart Frankel & Co and its partners are short (QQQQ)

Tim Freeman
**No disclosures

Ward McCarthy
**No disclosures

For Karen Finerman
Finerman’s firm owns (AAPL)
Finerman’s firm owns (BAC) leaps
Finerman’s firm owns (JPM) stock and (JPM) leaps
Finerman’s firm owns (CLX)
Finerman's Firm Is Short (IWM)
Finerman's Firm Is Short (MDY)
Finerman's Firm Is Short (SPY)
Finerman's Firm Is Long S&P 500 Puts
Finerman's Firm Is Long Russell 2000 Puts

CNBC.com with wires.