Fast Money's 4 Hot Trades Into A Correction
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Date updated:07-29-2009

Patty Edwards, founder of Storehouse Partners, appeared on the show. She said she sees a slight pullback to 950. If you fall into her camp, but you don't like to short stocks, how should you trade from the long-side?

symbol name last price % change open
  • +
  • PM
    Philip Morris Int
  • $49.17
  • 0.00%
  • $N/A

She said she would buy Philip Morris(PM), Molson Coors (TAP), Teva (TEVA) and get some protection from SPDR Barclays Capital High Yield ETF(JNK).

People owning PM also tend to own: BAMBBDBWFEADGOOGIFNISRG

TheStreet.com Rating: D+ What is this?

  • +
  • TAP
    Molson Coors Co C
  • $45.60
  • +0.86%
  • $45.52

Philip Morris and Molson Coors are vice stocks and they both pay dividends, she said. And on the Halftime Report she told the desk she likes Teva for their revenue growth.

People owning TAP also tend to own: AIZAMXAPCBIDBKCAMCTV

TheStreet.com Rating: B What is this?

  • +
  • TEVA
    Teva Pharmaceutic
  • $53.38
  • +1.12%
  • $53.25

And on the Halftime Report she told the desk she likes Teva for their revenue growth.

People owning TEVA also tend to own: ACEBACBSXCSCODISFGES

TheStreet.com Rating: A What is this?

  • +
  • JNK
    Spdr Barclay Hyb
  • $37.92
  • 0.00%
  • $N/A

And if I’m wrong about the market, the JNK provides a hedge; it has a 12.7% dividend yield with a 60% correlation with the stock market. That means if things continue to go up you only get 60% of the move but if things go down you only get 60% of that move.

People owning JNK also tend to own: CCATCHUEMFSLBXJCIJPM

TheStreet.com Rating: No Rating What is this?

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