RECENT POSTS
- Your First Move For Monday July 13th
- Web Extra: The Safe-Haven Trade
- EXCLUSIVE: How Close Is White House To Second Stimulus?
- Burned by Radio Shack, Research In Motion & More
- The Latest Picks That Paid - Friday July 10th
- Pops & Drops: American Express, Microsoft...
- Fast Funds: Hot Ways To Play China
- Should You Game Bank Earnings To The Upside?
FAST MONEY FEATURES
FAST MONEY POLLGet in the post game. Respond to our "Question of the Day" right now.
TRADE SCHOOLGrab a pencil because school is in session and the Fast Money traders are teaching class.
FAST MONEY PODCASTSDownload 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 PHOTOS!Check out our scrapbook. These "pix" are guaranteed winners.
NEWSLETTERSign up and receive a recap email every Friday after the show!
FAST MONEY MOBILE ALERTSGet advanced information about the next Fast Money.
Text Size 
 |
Oil prices fell below $130 a barrel for the first time in more than a month Thursday, as the dramatic slide entered its third day along with a sharp sell-off in natural gas.
We first posed this question on Wednesday – but it's so poignant we're asking again. As global demand for oil slows, supply should build. Does that mean the energy bull run is done?
Possibly, according to Addison Armstrong, Tradition Energy Director Of Market Research.
"We’re seeing liquidation pure and simple," he says on Fast Money, “which is being driven by the weak balance sheets of the banks. They’ve been cleaning them up by raising cash and they’re doing that by selling oil and other commodities.”
That suggests at least some investors are selling crude contracts even though they really don't want to be sellers.
"It’s really become a cascading trade," Armstrong adds. "We have to watch the technicals now. If we break through $125 we could see $117 next week."
I got out today, reveals Jeff Macke. The uptrend is broken now for the near-term.
Stay on the sidelines on Friday when Schlumberger [SLB
Loading...
()
] reports, counsels Guy Adami, and that should tell you how to trade Baker Hughes [BHI
Loading...
()
]and Halliburton [HAL
Loading...
()
] ahead of their earnings.
Also, I’d buy Exxon Mobil [XOM
Loading...
()
] and ConocoPhillips [COP
Loading...
()
] on this news, he says.
Read More:
> SPECIAL REPORT: Oil Reversal May Be Imminent
Learn why Steve Cortes, founder of Veracruz Research, thinks energy is due for a sharp turnaround.
_____________________________________________________
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 those e-mails to .
Trader disclosure: On July 17, 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 (WMT), (GS), (MSFT), (HAS); Adami Owns (AGU), (BTU), (C), (GS), (INTC), (MSFT), (NUE); Najarian Owns (AAPL), (CHK), (TSO), (XLF); Najarian Owns (ANR) Puts; Najarian Owns (CSCO) Calls, (MER) Calls, (SLB) Calls, (YHOO) Calls, (UYG) Calls; Finerman Owns (GS); Finerman's Firm Owns (MSFT), (NOK), (TSO), (SUN), (VLO), (AXP), (MRK), (PM); Finerman's Firm Is Long SPX Index puts; Finerman's Firm And Finerman Own (C) And (C) Leaps; Finerman's Firm Is Short (IYR), (IJR), (MDY), (SPY), (IWM)
Charles Schwab Is A Sponsor Of "Fast Money"
Armstrong Owns (GLD), (COMV)
Data is a real-time snapshot *Data is delayed at least 15 minutes