By: Lee Brodie
Investors get your shopping lists ready; the The Fast Money pros think it's about time to hit the buy button.
And yes, they're aware of the market swings - they know August has been the most violent month for stocks since the collapse of Lehman in 2008.
But the gang says some stocks have just gotten too cheap to pass up, even amid all the market the madness.What are they buying, right now? How are the pros positioning? Following you'll find the Fast Money treasures in the trash. That is, 8 stocks that appear oversold.
Instant Insights with the Fast Money traders
Pete Najarian sees opportunity in Starbucks [SBUX 35.10 0.349 (+1%)] and pulled the trigger at $34. Fast Money’s Pit Boss likes the same store sales growth as well as margins. And even with rivals lowering coffee prices, he thinks Starbucks remains attractive.
Najarian also likes the SLV [SLV 41.68 2.02 (+5.09%)]. He thinks the ETF that tracks silver found a base right around $37, which is a key technical level. “Ever since then it’s bounced and moved to the upside,” he says. Also Najarian likes the options action. “The SLV August 43 calls – a lot of activity.” Najarian thinks these influences all signal upside.
Trader Patty Edwards suggests a retailer. “I like Nordstrom [JWN 37.45 -0.85 (-2.22%)],” she tells us and she added to her position on the pullback. "It's down 15% just since the 15th of this month, that's too much." Edwards thinks the management team at the department store is reason enough for a long position. And if you’re worried about the high-end, she says don’t be. “If they thought the high-end was cracking they would have warned.”
Edwards also suggests a long position at Walter Energy [WLT 74.15 -1.05 (-1.4%)]. “It’s 45% off the highs – the world has not slowed down that much,” she says.
Trader Steve Cortes reaveals that he added to his position in Walmart [WMT 52.30 0.51 (+0.98%) ] during the sell-off. Fast Money’s El Capitan likes the recent price action, “it’s holding above $50,” he says. “And it’s a North America story – the company is relatively insulated from troubles in Europe,” he says. Cortes also thinks declining prices at the pump will give Walmart shoppers a little more cash to spend for back-to-school.
And Cortes also has another idea, “if you’re looking for a tech trade look at Intel [INTC 19.19 -0.58 (-2.93%)]. Unlike most tech names it provides a fantastic dividend yield.”
The concept of yield is something trader Dan Dicker also likes. “They’re boring but I’m moving into MLPs,” he says. The names he suggests include Enterprise [EPD 39.45 -1.28 (-3.14%)], and Kinder Morgan [KMP 66.25 -1.01 (-1.5%)].
And yes, they're aware of the market swings - they know August has been the most violent month for stocks since the collapse of Lehman in 2008.
But the gang says some stocks have just gotten too cheap to pass up, even amid all the market the madness.What are they buying, right now? How are the pros positioning? Following you'll find the Fast Money treasures in the trash. That is, 8 stocks that appear oversold.
Instant Insights with the Fast Money traders
Pete Najarian sees opportunity in Starbucks [SBUX 35.10 0.349 (+1%)] and pulled the trigger at $34. Fast Money’s Pit Boss likes the same store sales growth as well as margins. And even with rivals lowering coffee prices, he thinks Starbucks remains attractive.
Najarian also likes the SLV [SLV 41.68 2.02 (+5.09%)]. He thinks the ETF that tracks silver found a base right around $37, which is a key technical level. “Ever since then it’s bounced and moved to the upside,” he says. Also Najarian likes the options action. “The SLV August 43 calls – a lot of activity.” Najarian thinks these influences all signal upside.
Trader Patty Edwards suggests a retailer. “I like Nordstrom [JWN 37.45 -0.85 (-2.22%)],” she tells us and she added to her position on the pullback. "It's down 15% just since the 15th of this month, that's too much." Edwards thinks the management team at the department store is reason enough for a long position. And if you’re worried about the high-end, she says don’t be. “If they thought the high-end was cracking they would have warned.”
Edwards also suggests a long position at Walter Energy [WLT 74.15 -1.05 (-1.4%)]. “It’s 45% off the highs – the world has not slowed down that much,” she says.
Trader Steve Cortes reaveals that he added to his position in Walmart [WMT 52.30 0.51 (+0.98%) ] during the sell-off. Fast Money’s El Capitan likes the recent price action, “it’s holding above $50,” he says. “And it’s a North America story – the company is relatively insulated from troubles in Europe,” he says. Cortes also thinks declining prices at the pump will give Walmart shoppers a little more cash to spend for back-to-school.
And Cortes also has another idea, “if you’re looking for a tech trade look at Intel [INTC 19.19 -0.58 (-2.93%)]. Unlike most tech names it provides a fantastic dividend yield.”
The concept of yield is something trader Dan Dicker also likes. “They’re boring but I’m moving into MLPs,” he says. The names he suggests include Enterprise [EPD 39.45 -1.28 (-3.14%)], and Kinder Morgan [KMP 66.25 -1.01 (-1.5%)].
SOURCE: http://www.cnbc.com/id/44204231
