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On Wednesday President Bush put his signature on a sweeping energy bill. While everyone else is applauding the bill's effect on the environment and our dependency on foreign oil, Pete Najarian explains how to trade it?
The new legislation sets higher fuel economy standards for cars, higher efficiency standards for household appliances, and mandates increased production of renewable fuels explains Najarian.
As a result a lot of names in the agriculture sector moved higher Wednesday including Archer Daniels Midland (ADM), Monsanto (MON), Agrium (AGU) and Deere & Co (DE) Najarian says.
And even though solar energy wasn’t included in the bill the solar stocks moved higher anyway, he adds. To me that suggests real strength in the sector.
> Read more “Bush Signs Energy Bill Boosting Auto Fuel Economy”
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Trader disclosure: On Dec. 19, 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 (ATVI), (DIS), (SWY); Najarian Owns (C), (MS), (ORCL); Najarian Owns (RIMM) Options; Najarian Owns (BSC) Options; Seymour Owns (MER), Seymour Owns (MSFT); Seygem Asset Management Owns (CCJ) Uranium One; NBC Universal Is The Parent Company Of CNBC
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