Chartology: Commodity Trade 2.0
If oil’s run is done what are the next ways to play the commodity trade? Find out what the charts suggest!
Although many investors recommend moving to early cycle stocks, I don’t think that's the right way to play it, says John Roque, Natexis Bleichroeder Technical Analyst. I recommend sticking with leadership groups which are commodities.
Here are three picks worth watching from Roque.
Trends in this chart suggest to Roque that the stock could go to $124.
I also like this stock, adds Guy Adami. However it’s important to note that this is a volatile stock.
I’m not that crazy about this company, counter Jeff Macke. I’d let it come down before getting in.
El Paso Corp.
Trends in this chart suggest to Roque the stock could go to $24
Trends in this chart suggest to Roque the stock could go to $86.
For more on John Roque's interpretation of the charts please watch the video.
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Trader disclosure: On May 12, 2008, 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 (MSFT), (INTC), (ATVI); Najarian Owns (AAPL), (BKC), (ENER), (TSO), (XLF), (PDE), (DIS); Najarian Owns (AA) Calls, (C) Calls, (MSFT) Calls, (YHOO) Calls; Adami Owns (AGU), (BTU), (NUE), (C), (GS), (MSFT), (INTC); Seymour Owns (CSCO), (INTC), (MBI), (MER), (TSO); Seygem Asset Management Owns (VIP); NBC Universal Is The Parent Company Of CNBC