What’s the trade ahead of Chevron’s analyst meeting?
Refiners traditionally do well into the spring season, but they’re just not performing this year, explains Dylan Ratigan, because the run in crude is shrinking the gas crack.
If Chevron comes out with some kind of spending package for exploration, it could lift the entire integrated space, speculates Pete Najarian.
I think recession is already priced into the sector, says Guy Adami. But I like oil services names such as Schlumberger and Baker Hughes , he says.
I’m long Tesoro , reveals Tim Seymour, and I also think investors should look nat gas investments such as United States Natural Gas Fund .
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Trader disclosure: On Mar. 7, 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 (BIIB), (BKC), (C), (CSCO), (MS), (MSFT), (XLF), (YHOO), (AAPL); Najarian Owns (COP) Calls, (BHI) Calls, (AMAT) Calls; Seymour Owns (BX), (CFC), (F), (HAL), (MER), (MSFT), (SBUX), (TSO), (AAPL), (INTC); Seygem Asset Management Owns (EEM); Seygem Asset Management Is Short (FXI); Finerman Owns (GS); Finerman's Firm Owns (MSFT), (TSO), (WMT), (YHOO), (FNM), (AAPL), (MO), (AEO); Finerman's Firm Is Short (IYR), (IJR), (MDY), (SPY), (IWM); Finerman's Firm Is Short (LEH) And Owns (LEH) Puts