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$80 Oil, Record Low Dollar, Stocks Quiet

$80 OIL, RECORD LOW DOLLAR, STOCKS QUIET

The headline: Oil Touches Record Intraday High Of $80.18 After Supplies Fall More Than Expected.

Pete Najarian tells the panel that commodities such as oil were the main drivers of Wednesday’s market.

Karen Finerman likes ConocoPhillips (COP) as a beneficiary of $80 oil.

Guy Adami recommends Apache (APA) as a trade on crude.

On a related note, Dylan Ratigan explains that the Dow gave up a gain of 52 points to end the session lower snapping a 2-day advance. It’s Up 6.6% in 2007

He also says that the dollar fell to a record low against the euro on rate-cut speculation.

Symbol
Price
 
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%Change
S&P 500
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COP
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THE BROTHERS BREAK OUT

The headline: Lehman Brothers (LEH), One Of Worst-Performing Financials This Year, Jumps 3%.

Pete Najarian believes the brokers have hit a bottom. He feels LEH earnings will be a big “tell” for the financial community.

The rest of the panel is left speechless. Karen Finerman says she thinks Lehman’s balance sheet is a big unknown.

Jeff Macke feels the heart of the problem is that the brokers themselves don’t know how badly they’re involved in the subprime slime.

On a related note, in this conversation Karen says the NASDAQ (NDAQ) is interesting as a stock on trading volume.

Symbol
Price
 
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%Change
NDAQ
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BIOTECH UPDATE

The headline: Amgen (AMGN) Continues Run Today On Positive Anemia Drug News.

Pete Najarian says he doesn’t like AMGN. He feels it’s time to get out of this stock.

Symbol
Price
 
Change
%Change
EME
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MONEYMAKING CHATTER

The headline: Target (TGT) Reviewing Their Options For Credit Card Receivables.

Karen Finerman says the news makes this stock attractive to her in the after-market.

Jeff Macke agrees.

Symbol
Price
 
Change
%Change
TGT
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SAVE MONEY LIVE BETTER

The headline:Wal-Mart (WMT) Replaces "Always Low Prices" With "Save Money. Live Better" Ad Campaign.

Jeff Macke suggests ways in which to fix Wal-Mart. They are:

1) Focus more on value, less on low prices
2) Spend more on store maintenance
3) Give CEO Lee Scott the boot

Macke doesn’t like Wal-Mart stock.

Karen Finerman feels differently. She likes WMT as a long term hold.

Symbol
Price
 
Change
%Change
WMT
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Got something to say? Send us an e-mail at fastmoney-web@cnbc.com and your comment might be posted on the Rapid Recap! Prefer to keep it between us? You can still send questions and comments to fastmoney@cnbc.com.

Trader disclosure: On Sept. 12, 2007, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Macke Owns (HAS), Najarian Is Short (GS), Finerman's Firm Owns (DVA), (WMT), (COP), (JNJ); Finerman's Firm Owns S&P 500 Puts; Finerman's Firm Owns Russell 2000 Puts; NBC Universal Is The Parent Company Of CNBC

Symbol
Price
 
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%Change
WMT
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AMGN
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APA
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