Date updated:03-11-2008
Some traders are using the current sell-off to selectively buy where others fear to tread. It’s scary, but sometimes you’ve got to go out on a limb, because that’s where you’ll find the sweetest fruit, says Jon Najarian.

-
S
Sprint Nxtel Cp - $3.57
- -5.05%
- $3.35
Najarian likes this stock on speculation on that Carlos Slim and/or Deutsche Telecom might be interested in a deal. There’s also chatter that Sprint has hired Morgan Stanley to explore options.

-
AMLN
Amylin Pharma Inc - $12.30
- -10.09%
- $13.03
There’s speculation that Eli Lilly is interested in buying AMLN, explains Najarian. Keep an eye on this stock next week because Amylin is scheduled to present at a biopharmaceuticals conference Tuesday.

-
SLB
Schlumberger Ltd - $60.50
- -0.08%
- $56.06
Najarian likes the world's leading oil services company on recent options action. Specifically he’s seeing investors buying April 90 calls on nearly double open interest which suggests to him the stock could move higher.

-
FNM
Fannie Mae - $1.08
- +6.93%
- $0.82
Or you can check out Fannie Mae (FNM) adds Karen Finerman. I can’t believe this stock will ever go to zero because it has implicit backing from the government.
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