RECENT POSTS
- Special Feature: Wall Street History - How Wall Street Got Its Name
- Your First Move For Monday February 13th
- Gene Munster Expects Apple Growth, Dividend
- Follow Leon Cooperman into RIM, Halliburton?
- LinkedIn CEO Calms Post-Lockup Concerns
- Anthony Scaramucci: S&P 500 Stocks Still Cheap
- Your First Move For Friday February 10th
- Home Builder Optimism Up, Industry Expert Says
FAST MONEY FEATURES
FAST MONEY POLLGet in the post game. Respond to our "Question of the Day" right now.
FULL SHOWSMissed an episode of Fast Money? Watch the latest show here.
HEDGE FUND TRADE OF THE WEEKWhich names are generating the most chatter across the hedge fund community this week?
CALL TO THE FLOOR | CEO EXTRACheck out our library of CEO interviews; conversations from TV as well as web exclusives.
TRADE SCHOOLGrab a pencil because school is in session and the Fast Money traders are teaching class.
FAST MONEY PODCASTS
Download Fast Money onto your MP3 Player.
FAST MONEY WIDGETGrab this all-in-one application and get recaps of the show sent right to your desktop or blog.
SHOP FOR FAST MONEY MERCHANDISEGet your game on with Fast Money gear.
FAST MONEY SLIDESHOWS!Check out our scrapbook. These "pix" are guaranteed winners.
NEWSLETTERSign up for our daily newsletter!
FAST MONEY MOBILE ALERTSGet advanced information about the next Fast Money.
Is The Oil Rally Over?
Text Size 
Web Editor
 |
Oil prices [US@CL.1
Loading...
()
]fell more than $4 Thursday despite the Energy Department reporting unexpected declines in supplies last week. (They said the drop was due to temporary delays in unloading oil tankers along the Gulf Coast.)
The magnitude of the decline suggested to some analysts that the bullish momentum that pushed prices over $135 as recently as one week ago may be running out of steam.
"The back of the board has fallen $13," said independent oil trader Joe Terranova on Fast Money. (The back of the board refers to future contracts that go a little farther out into the future.)
"I think this is a period for the market to test $120. And from there I’d like to see who shakes themselves out of the market if we break below $120."
How are you playing oil?
"I’m short Hess [HES
Loading...
()
] and I’m long Southwest Airlines[LUV
Loading...
()
], long the Canadian dollar and long one of the refiners," he said.
______________________________________________________
Got something to to say? Send us an e-mail at and your comment might be posted on the Rapid Recap. If you'd prefer to make a comment but not have it published on our website send your e-mail to .
Trader disclosure: On May 29, 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 (BTU), (C), (AGU), (NUE), (GS), (INTC), (MSFT); Finerman Owns (GS); Finerman's Firm Owns (MSFT), (SUN), (TSO), (VLO), (AAPL); Finerman's Firm Owns SPX Index Puts; Finerman's Firm Is Short (BIG); Finerman's Firm And Finerman Own (C) And (C) Leaps; Finerman's Firm And Finerman Own (GLNG); Finerman's Firm Is Short (IYR), (IJR), (MDY), (IWM), (SPY): Pete Najarian Owns (AAPL), (ANR), (BHI), (TSO), (XTO), (XLF), (HPQ), (BKC) (MAS), (ENER), (SYMX) (SVNT); Pete Najarian Owns (BAC) Puts
Terranova Owns (SUN), (LUV), (GS), (FXC); Terranova Is Short (HES)
Data is a real-time snapshot *Data is delayed at least 15 minutes
