NEW YORK (
) -- The trading panel for
's "Fast Money" TV show rolled out their forecast for March.
Guy Adami started the discussion by saying that
sets up for a nice trade in March. He said the stock is due for a bounce after the company reported a disastrous quarter a few days ago, adding it can't get much worst from here.
Dennis Gartman advised investors to pick their stocks carefully. On balance, he expects a slightly down month and is leading "modestly" to the short side. He said he's a seller of
Polo Ralph Lauren
For a breakout of some stocks from a recent "Fast Money" TV show,check out Dan Fitzpatrick's "3 Stocks I Saw on TV."
3 Stocks I Saw onTV
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After a rough period of trading in February, Joe Terranova said he had become a believer in "counter-intuitive trading." He said the objective in March will be to keep losses small in a low volatile environment that promises a lot of uncertainty.
Tim Seymour also sees a tough month ahead with big meetings next week in Europe to deal with the sovereign debt crisis and discouraging economic data around the globe. He said he would be watching for China's PMI data over the weekend.
Pete Najarian was the most optimstic among the panelists. He said he still liked the generic pharma names
He also liked the coal space and names such as
Shifting to Europe, Lee mentioned a report of another lifeline for Greece, in which a German bank is rumored to be involved in the bailout. Brian Kelly, who's been bullish on the prospects of a bailout for Greece, said he continues to hold positions in European banks like
National Bank of Greece
Tim Seymour dismissed the idea of Armageddon for Europe's economies, arguing instead that a cheap euro will be beneficiary for the German and Spanish economies and allow them to increase their exports.
Gary Kaminsky, though, insisted the Spain's economy is in serious problems and continued to short Europe through
Proshares Ultrashort MSCI Europe
. Adami noted that trade is getting crowded.
Oil ended the week higher as it hovers near $80 a barrel. Terranova said oil continues to move higher despite bearish fundamentals. He said he believes the oil is moving higher on unspecified geopolitical factors.
In a brief ear to the wall segment, Najarian noted unusually heavy options options activity in
, suggesting more upside to come.
Kaminsky said that if Brad Hintz, an analyst with Sanford Bernstein, is right about a 4% to 6% hit to revenue for
, from the damage done to its reputation from its handling of swaps for Greece, that would mean a 10% to 12% hit to earnings.
Seymour said he doubts very much whether Goldman's reputation is at risk in the business community. He said Goldman is still in the front line of the M&A business. Terranova said he would rather go with
In the wake of
woes, Seymour said investors should check out
, which is up 9% today and which is in an excellent position to grow in a country where the auto market is underserved.
As an alternative, Adami said he liked
while Terranova suggested
Todd Gordon, a technical analyst with Forex.com, said he looks for
to trade lower and said that
is nearing a support level at $500.
In the options pit, Mike Khouw, an options trader with Cantor Fitzgerald, said it's a good time to buy puts with the volatility index dropping to below 20.
Lee brought in Scott McGregor, CEO of
to talk about his business. He said the increasing competition in the smartphone market will benefit his chip company. He believes the company's gross margins "will hold up fine," adding "business is strong."
He said the company is seeing increase demand for faster broadband speed and growth in "last-mile" technology in the telecom sector.
In the final trades, Seymour picked
. Adami liked Transocean; Gartman favored
and Najarian liked
-- Written by David Tong in San Francisco
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