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As pro-Tibet protesters descended on San Francisco for the only North American leg of the Olympic Torch’s relay Wednesday, China’s role as host of the games is becoming overshadowed. But could it be enough to cool off the red-hot Chinese market?
Protestors or no protestors, the Chinese market is unlikely to grow at anything like last year’s 35% clip, Tim Seymour said. The Shanghai market is already down nearly that much so far this year!
In short, Seymour thinks the so-called “Olympic trade” is over, but the long-term Chinese growth stocks are still in play: Baidu.com [BIDU
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], Sohu.com [SOHU
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], China Mobile [CHL
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], PetroChina [PTR
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]. These stocks are all plays on the Chinese economy and can still be owned, even if no one expects last year’s pace of economic growth.
Pete Najarian has been slightly more bearish on the volatile Chinese stocks, but he couldn’t deny that the Chinese infrastructure buildout story is still alive and well. For that, he recommended U.S.-based infra plays like Fluor [FLR
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], Foster Wheeler [FWLT
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] and Chicago Bridge & Iron [CBI
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].
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Trader disclosure: On Apr .9, 2008, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Najarian Owns (AAPL), (AMR), (BIIB), (CSCO), (NOK), (TSO), (XLF), (YHOO), (EMC), (WLT); Najarian Owns (CHK) Calls, (COP) Calls, (MSFT) Calls, (SLB) Calls; Najarian Owns (LEH) Puts, (OIH) Puts; Macke Owns (YHOO), (INTC), (DIS), (MSFT); Seymour Owns (AAPL), (BX), (CHL), (CSCO), (INTC), (MSFT), (SBUX), (TSO), (TIE); Seygem Asset Management Owns (COP)

