Under-The-Radar Oil Trades
Crude oil prices once again set both intraday and Nymex closing record highs Tuesday, driving toward $130 a barrel mid-day and finishing above $129 amid deepening worries over tight global stockpiles.
But enough oil talk already. What’s the best energy trade without trading energy?
Joe Terranova – I like Goldman Sachs because they’re the best energy traders I know.
Pete Najarian – I agree, Goldman is my play.
Guy Adami – Trinity and Hexcel are smart wind plays. Or go with Halliburton for oil exploration.
Jeff Macke – With oil prices so high I don’t think anyone is leaving the house. That should work for Activision or Dish Network .
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Trader disclosure: On May 20, 2008, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Adami owns (NUE), (BTU),(MSFT),(INTC),(C ), (GS), (AGU); Najarian Owns (AAPL), (NOK), (DRYS), (HPQ), (XLF) Puts; Macke Owns (INTC), (HAS), (DIS), (WMT), (MSFT); Terranova Owns (SUN), (FXC), (GS), Crude; Terranova Is Short (HES), (WYNN)