We’re just a few days from the opening ceremonies but here at Fast Money we’re starting our own Olympic competition right now.
Each day this week, we’ll present what our pros think are the best investments in four categories related to the summer games.
And after the closing ceremonies, we’ll reveal the gold medal winners in each event.
Kicking it off, we begin with the top trades in the precious metals and mining space.
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Trader Stephen Weiss: ShortAK Steel
“I think their pension obligations combined with lower steel prices is a recipe for disaster,” says Weiss, managing partner at Short Hills Capital.
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Trader Guy Adami: LongTeck Resources
“I think on a valuation basis it’s cheap and charts suggest it should hold $29,” says Adami, managing director of stockMONSTER.com.
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Trader Josh Brown: Long Worthington Industries
“They are levered to housing, which is a good thing these days. They have a big insider buy and it yields 2.5%,” says Brown, author of The Reformed Broker blog.
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Trader Mike Murphy: Long Peabody Energy
“Last week they announced a distribution agreement with Kinder Morgan. I think we could be looking at a snapback rally,” says Murphy, founder and managing partner at Rosecliff Capital.
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Trader Scott Nations: Long Ultra Short Gold ETF
“Gold will be hurt by the rising dollar; alsoon a down day in the stock market it was also lower and it shouldn’t have been. That’s a classic sign of weakness,” says Nations, president and chief investment officer of NationsShares.
