The “Fast Money” traders discuss how they could take advantage of the drop in U.S. equities on Tuesday, after uncertainty over health-care reform and a drop in financials lead the stock market to one of its worst days in months.
Trader Tim Seymour said he likes the euro and the iShares MSCI Turkey ETF. He said that he expects more strength in the European currency and that U.S. volatility helps overseas markets.
Trader Brian Seaburg said he likes “down-and-out names” Coach and JetBlue Airways. He said JetBlue has been an under performer and should see a move higher soon and should be a great stock to own into the future.
Trader Guy Adami said he likes Wynn Resorts. He said the hotels and casino operator’s stock will make a breakout soon and reach at least $116. The stock is up 25 percent in the last three months and closed at $111.75 on Tuesday.
Guy Adami is long CELG, EXAS, GDX, INTC. Adami’s wife, Linda Snow, works at Merck.
Steven Grasso’s firm is long AON, APC, CUBA, DIA, HES, ICE, KDUS, M
AT, MFIN, MJNA, MSFT, NE, RIG, SNAP, SPY, SQBG, TITXF, VRX, WDR, WPX, ZNGA. Steven Grasso is long CHK, EEM, EVGN, GDX, KBH, MJNA, MON, MU, OLN, PFE, PHM, T, TWTR. Grasso’s children own: EFA, EFG, EWJ, IJR, SPY. NO SHORTS.
Tim Seymour is long ABX, AAPL, APC, AVP, BAC, BBRY, C, CLF, CVX, DO, DVYE, EDC, EWN, EWZ, F, FB, FCX, FXI, GM, GOOGL, GE, INTC, LQD, MOS, MCD, MUR, OIH, PG, RACE, RAI, RH, RL, SINA, SQ,T, TWTR, VALE, VZ, XOM. short: EEM, SPY, XRT; Tim’s firm is long ABX, BABA, BIDU, CBD, CLF, EEM, EWZ, F, KO, MCD, MPEL, NKE, PEP, PF, TCEHY, SAVE, SBUX, SINA, VALE, VIAB, WMT, WEN, X, YHOO, short EWG, HYG, IWM
David Seaburg: “Opinions expressed by David Seaburg are solely his own and do not reflect the views and opinions of Cowen Group, Inc. David Seaburg and Cowen have a financial interest in EDIT. Diamond Offshore: an employee of Cowen and Company, LLC serves on the Board of Directors of Diamond Offshore”