Sell this oil stock into earnings: trader

Sell this oil stock into earnings: trader
Sell this oil stock into earnings: trader   

Halliburton is set to report earnings on Monday, but "Fast Money" trader Tim Seymour says to sell the stock before the release and look for a chance to buy it back on a dip.

"You're playing for a pullback," Seymour said. "These guys on capex are continuing to spend, and to me that actually means they are very well positioned and it's a levered play on when oil prices get higher again."

The $40 billion oil giant has faced pressure from rapidly dropping oil prices over the past year, but has managed to make a recent comeback. Shares of the stock are up about 25 percent from the low it hit in January, and Seymour is waiting for a selloff to get back into the stock.

"In the short run, on a stock that's had a very big move; I sell into earnings, I buy back at $44 and I play for a move through $53 and that's when the stock finally starts to move on fundamentals."

Tim Seymour has no position in Halliburton. Follow him on Twitter @timseymour.