Market Overview

Fast Money Picks For November 6: Tesla, Southern Co, Medtronic


CNBC Fast Money's Tim Seymour said on the show that he is a buyer of Market Vectors Oil Services ETF (NYSE: OIH) because it is oversold. OIH jumped 2.80 percent on Wednesday.

Dan Nathan was caught on the wrong side of a trade in Tesla Motors Inc (NASDAQ: TSLA) after the stock jumped 7.15 percent in after-hours trading. He thinks that this is just a short squeeze and that it won't hold $250 on Thursday. Traders with a long position should take profits on this move, thinks Nathan. He also recommended a short position in the name.

Steve Grasso thinks that investors are still hunting for yield. He would buy Southern Co (NYSE: SO), which added 2.17 percent on Wednesday.

Guy Adami likes Medtronic, Inc. (NYSE: MDT) and he wants to buy it on Thursday. Medtronic gained 1.13 percent on Wednesday.


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Posted-In: CNBC Dan Nathan Guy Adami Steve Grasso Tim SeymourShort Ideas Media Trading Ideas