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Traders find opportunity in retail stocks after border adjustment tax confusion

Luqman Adeniyi

The "Fast Money" traders said the confusion over White House support for a border adjustment tax on Friday creates a profitable environment for some stocks.

Trader Dan Nathan said the volatility in stocks affected by the Mexican border tax proposal provides an opportunity for traders to make quick returns or reposition themselves.

Trader Guy Adami said he likes Nordstrom's (JWN) stock because the company has proven its ability to weather through headlines. Shares of the retailer are up nearly 7 percent after receiving criticism from President Donald Trump for dropping Ivanka Trump's products from its stores in February. Adami predicted a 10 to 12 percent rally for the stock to a price around $50. The stock closed at $43.49 on Friday.

Trader Tim Seymour is sticking withGap (GPS) and Macy's (NYSE: M) as stocks to buy.

Disclosures:

Guy Adami is long CELG, EXAS, GDX, INTC. Adami's wife, Linda Snow, works at Merck.

Brian Kelly is long Bitcoin, SLV

Dan Nathan is Long XLV March put spread, XLI Feb put spread, FXI Feb put spread.

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