Fast Money Traders Share Their Bank Picks
Dan Nathan said on CNBC's Fast Money that if he had to buy something in the banking sector, he would buy Citigroup Inc (NYSE: C) and Bank of America Corp (NYSE: BAC) and then as a pair trade he would sell Wells Fargo & Co (NYSE: WFC). He thinks the crisis from September isn't over yet.
Brian Kelly wouldn't short the banks, but he would take profits in the sector. He added that he sold Financial Select Sector SPDR Fund (NYSE: XLF) earlier this week, which proved to be a bad decision.
Karen Finerman still has a large position in the banking sector. She doesn't want to sell her position this year, because she expects lower tax rate next year, so she is going to use options to lower her exposure.
Tim Seymour thinks that Financial Select Sector SPDR Fund has more room on the upside.
© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.