Fast Money Stock Picks – August 19, 2008 – Oil, Tech, and Retail

Adami:
LEH – Lehman – Don’t jump in yet
Oil – Still room on the downside
HD – Home Depot – Buy on pullbacks
LMT – Lockheed Martin – Buy
TIF – Tiffany’s – Buy on a pullback
RTN – Raytheon – Buy – “Final Trade”

Najarian:
AAPL – Apple – Be careful, investors will need to take profits from somewhere
AMAT – Applied Materials – Buy
CY – Cypress – Buy
XLE – Energy Select Sector SPDR – Buy
HOG – Harley Davidson – Take a look
MER – Merrill Lynch – Buy puts – “Final Trade”

Macke:
Commodities – Get out
COST – Costco – Sell – “Final Trade”
TM – Toyota – Short

Finerman:
TIF – Tiffany’s – Buy on a pullback

Pops (stocks that jumped higher):
MDT – Medtronic (2%) – Najarian: Everything is going well for them right now
RS – Reliance Steel (5%) – Adami: I think it’s cheap on a valuation basis
MEE – Massey Energy (7%) – Najarian: These names have been beaten but be careful
WCG – Wellcare Health Plans (10%) – Adami: It’s a bounce
TASR – Tasr International (5%) – Finerman: The new manager is from Microsoft
FII – Federated Investors (4%) – Declared a special cash dividend of $2.76 a share

Drops (stocks that slid lower):
LVS – Las Vegas Sands (11%) – Macke: Casino stocks are a sinkhole
SBUX – Starbucks (3%) – Largest shareholder, Maverick Capital, is liquidating its position
CROX – Crocs (11%) – Macke: Why would you do anything but sell this stock
CNTF – China Techfaith Wireless (26%) – Macke: I wouldn’t invest in a communist nation
AMLN – Amylin (4%) – Najarian: At some point I think the stock will turn around
LULU – Lululemon (7%) – No apparent reason