Fast Money Picks For August 7

On CNBC's Fast Money Final Trade, Tim Seymour recommended a long position in AT&T Inc. T. He likes the DIRECTV DTV acquisition and he believes that it is a defensive stock that can be bought on a big dip. Steve Grasso said that Southern Co SO is approaching a 5 percent yield and he believes that it is safe to buy the stock. Karen Finerman is bullish on Michael Kors Holdings Ltd KORS. She would buy the September 45/50 call spread. Brian Kelly would buy Market Vectors Gold Miners ETF GDX if the U.S. dollar weakens after the jobs report on Friday.