The traders on CNBC’s Fast money discussed trades for Thursday, November 6.
Tim Seymour would be long Market Vectors oil services ETF (OIH). It got a pop, and may stay oversold. Oil prices have currently hit lows, but were up 1.7% following the election results.
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Dan Nathan would take profits in Tesla (TSLA). The company beat earnings estimates by 3 cents, but earlier in the month it reported sales in the U.S. are down. Some pundits feel it is overvalued.
Steven Grasso would buy Southern Company (SO), which has rallied 10% lately, but he thinks it will go higher as investors search for high yield stocks.
Guy Adami is bullish on Medtronic (MDT). Opinions have been expressed that a Republican Senate victory is going to be good for medical device stocks, because Republicans may propose a repeal of the tax on medical devices. MDT has other tax advantages with its purchase of Covidien in a controversial move of tax inversion.