Best in Breed: Energy
In a market that's making you want to howl at the moon how do you find the best in breed? Place your bets on the favorite. And in the stock market the favorite is energy.
Wait! Not so fast. Even the energy industry has been looking a little mangy lately. Although prognosticators said oil was headed toward $200 a barrel so far this month it's been stuck at $140.
As the bear threatens to take down even the market's best performer it's all the more reason to accept nothing less than the pick of the litter. And judge Pete Najarian rules that’s ConocoPhillips .
You know about their exploration, production and refining but Wall Street is buzzing about this old dog's newest trick, natural gas.
This week, Abu Dhabi gave Houston based Conoco the blue ribbon over Exxon & Royal Dutch Shell choosing America's third largest oil company to develop a $10 billion natural gas field in the Middle East.
When the market won't throw you a bone buy the best in breed!
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Trader disclosure: On July 9, 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 (INTC), (MSFT), (WMT); Adami Owns (AGU), (BTU), (C), (GS), (INTC), (MSFT), (NUE); Najarian Owns (AAPL), (CHK), (MAR), (TSO), (ANR); Najarian Owns (SLB) Calls, (YHOO) Calls; Najarian Owns (XLF) And (XLF) Puts; Najarian Owns (FNM) And (FNM) Puts; Finerman Owns (GS); Finerman's Firm Owns (MSFT), (SUN), (TSO), (VLO),(PPH), (MRK), (PFE), (JNJ); Finerman's Firm Owns (TGT) Calls; Finerman's Firm Is Short (IYR), (IJR), (MDY), (SPY), (IWM); Finerman's Firm Is Long SPX Index Puts; Finerman's Firm And Finemran Own (C) And (C) Leaps; Finerman's Firm And Finerman Own (PDE) And (PDE) Calls; Finerman's Firm And Finerman Own (FLS)