As Fast Money took to Chicago Friday, the timing couldn't have been better as commodities finished off a breakout week, starting with oil...
CRUDE CROSSES $127
The headline: Crude Oil Trades Above $127 For First Time After Goldman Raises Price Estimate to $141
When it comes to oil, the trend is your friend, Jeff Macke said. The trade is simple: chart the trend and buy crude on pullbacks.
But if you don’t want to trade the commodity, Guy Adami recommended the oil services sector – particularly Baker Hughes and Halliburton , both of which are still cheap, he said.
YAHOO PREPARES FOR WAR
The headline: Yahoo Digs in its Heels for a Fight After Carl Icahn launches Proxy Contest Plans
Yahoo blames Microsoft , but it's Yahoo who are without a deal and now have a lower stock price. So who’s the loser, Karen Finerman wondered. She thinks Icahn has a good shot of winning the fight because Yahoo shareholders are so upset with management’s inability or unwillingness to get this done.
Jeff Macke’s trade is simple: sit back, relax, watch the drama unfold and get long Microsoft.