Trader Brian Kely said he’s selling United Rentals.
“There’s nothing wrong with the company but it’s had just a tremendous run,” he said. The stock is up 179 percent in the last 12 months.
Kelly also said Amazon’s move into selling auto parts online is a bad sign for names like Autozone, O’Reilly, and AutoNation. He is stepping out of the space because of the online retail giant’s competition.
Trader Steve Grasso offered commentary on the rally and said the market is overbought. He said he thinks Trump’s announcement will not deliver what traders expect and there’s a market risk to the downside.
Steve Grasso’s firm is long: AGN, BIIB, BIVV, CHK, COG, CUBA, DIA, HES, ICE, KDUS, MFIN, MJNA, MSFT, NE, REGN, RIG, SPY, TITXF, VIRT, WDR, WLL, ZNGA. Grasso is Long: CHK, EEM, EVGN, GDX, KBH, MJNA, MON, MU, OLN, PFE, PHM, QCOM, SPY, T, TWTR. Grasso’s children own: EFA, EFG, EWJ, IJR, SPY. No shorts.
Brian Kelly Is long FCX, Bitcoin, SLV, XLF, HLF, TLT
“Opinions expressed by David Seaburg are solely his own and do not reflect the views and opinions of Cowen Group, Inc. David Seaburg and Cowen have a financial interest in EDIT. Diamond Offshore: an employee of Cowen and Company, LLC serves on the Board of Directors of Diamond Offshore“
Tim Seymour is long ABX, AAPL, APC, AVP, BAC, BBRY, C, CLF, CVX, DO, DVYE, EDC, EWN, EWZ, F, FB, FCX, FXI, GM, GOOGL, GE, INTC, LQD, MOS, MCD, MUR, OIH, PG, RACE, RAI, RH, RL, SINA, SQ,T, TWTR, VALE, VZ, XOM. short: EEM, SPY, XRT; Tim’s firm is long ABX, BABA, BIDU, CBD, CLF, EEM, EWZ, F, KO, MCD, MPEL, NKE, PEP, PF, TCEHY, SAVE, SBUX, SINA, VALE, VIAB, WMT, WEN, X, YHOO, short EWG, HYG, IWM