Adams said it was time to go defensive in a market that was “a little too excited about QE” and faces a lot of policy risks in the next six months.
“The consumer’s doing OK. The market is testing its 2012 highs, and we’ve had a pretty good first half of the year. Inflation is right around 2 percent,” she said. “I think the Fed case to do QE3 is pretty weak right now.”
Trader disclosure: On Aug. 28, 2012, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s "Fast Money" were owned by the "Fast Money" traders: Joe Terranova is long VRTS; Joe Terranova is long SBUX; Joe Terranova is long WFM; Joe Terranova is long AAPL; Joe Terranova is long CSTR; Joe Terranova is long CHKP; Joe Terranova is long EMC; Joe Terranova is long NXPI; Pete Najarian is long AAPL; Pete Najarian is long C; Pete Najarian is long JPM CALLS; Pete Najarian is long INTC; Pete Najarian is long YHOO; Pete Najarian is long SBUX; Pete Najarian is long FB; Pete Najarian is long MSFT; Pete Najarian is long PEP; Pete Najarian is long MCP; Jon Najarian is long call spreads in AAPL; Jon Najarian is long call spreads in JPM; Jon Najarian is long call spreads in CFN; Jon Najarian is long call spreads in JNPR; Jon Najarian is long call spreads in XLF; Jon Najarian is long call spreads in GLD; Jon Najarian is long call spreads in SLV; Jon Najarian is long call spreads in FB; Jon Najarian is long call spreads in ERY; Jon Najarian is long call spreads in GOOG; Jon Najarian is long call spreads in TOL; Jon Najarian is long call spreads in LEN; Jon Najarian is long call spreads in PSX; Jon Najarian is long CME; Jon Najarian is long CBOE; Jon Najarian is long GLUU; Jon Najarian is long STSI;
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