Fast Money Traders Share The Stocks They Would Sell
On CNBC's Fast Money, Tim Seymour said that he would sell Utilities SPDR ETF (NYSE: XLU). He explained that traders were buying the utilities as a defensive play that offers dividend yield, but when industrial growth returns this strategy is going to be less interesting.
Pete Najarian is a seller of Netflix (NASDAQ: NFLX) because he believes that the stock moved too fast to $480.93. He likes the company but thinks that the stock is too stretched at the moment. Investors should buy it when it pulls back to its 200-day moving average.
Steve Grasso would sell Exxon Mobil (NYSE: XOM) because it is sitting on its 200-day moving average at $98.30. He thinks the stock will trade lower if crude oil trades lower, but he is also worried that the sell off in crude oil is a little bit overdone.
Guy Adami thinks that it would be a good idea to sell The Home Depot (NYSE: HD), which moved from $81 to $91.20 too fast. He is not advising investors to sell the stock short, but he believes that it will pull back to $84 and that would be a good entry point.
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