Skip navigation

Fast Money: Rapid Recap - The first and only official show synopsis

MON-THU 5P / FRIDAY 5P & 8P ET

RSS FEED

» Help

Current DateTime: 07:46:10 23 Nov 2009
LinksList Documentid: 33535385

FAST MONEY FEATURES

PollFast Money PollsFAST MONEY POLL
Get in the post game.  Respond to our "Question of the Day" right now.




Trade SchoolTRADE SCHOOL
Grab a pencil because school is in session and the Fast Money traders are teaching class.



PodcastFM PodcastsFAST MONEY PODCASTS
Download Fast Money onto your MP3 Player.




FM WIDGETFAST MONEY WIDGET
Grab this all-in-one application and get recaps of the show sent right to your desktop or blog.




ShopSHOP FOR FAST MONEY MERCHANDISE
Get your game on with Fast Money gear.




Wanna See Our PhotosFAST MONEY PHOTOS!
Check out our scrapbook.  These "pix" are guaranteed winners.




SignupNewsletterNEWSLETTER
Sign up and receive a recap email every Friday after the show!





FM Mobile AlertFAST MONEY MOBILE ALERTS
Get advanced information about the next Fast Money.


Black Gold - The New Gold?
Published: Friday, 16 Oct 2009 | 5:33 PM ET
Text Size
By: Lee Brodie
Web Editor

Entry Point

Is oil [US@CL.1  Loading...      ()   ] about to rally hard, just like gold [US@GC.1  Loading...      ()   ] did a few weeks back?

It sure seemed that way until Friday when crude oil prices fell from a one-year high above $78 a barrel, as investors questioned whether an $8-a-barrel rally since last week was warranted with global supplies still high.

"If you look at the stock situation you would not be buying. There is still an awful lot of supply," says Rob Montefusco, an oil trader with Sucden Financial.

(US@CL.1)
Loading...       (%)

Nonetheless traders can’t help but notice the bullish momentum generated by this market. And with the dollar [US@DX.1  Loading...      ()] widely believed to be growing weaker long-term -- oil prices should continue to rally.

So is oil about to rally hard, just like gold did a few weeks back?

I 'do' think oil continues to rally, says Joe Terranova. And I’d play it with the oil services names as well as the refiners.

There’s no doubt that Schlumberger [SLB  Loading...      ()   ] and Halliburton [HAL  Loading...      ()   ] are making money, adds Tim Seymour. But as far as refiners are concerned, I think margins are kind of stuck in the mud.

If you're bullish energy I'd play the energy space with Weatherford [WFT  Loading...      ()   ], adds Pete Najarian.

______________________________________________________
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 Oct. 16th, 2009, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Najarian Owns (HGSI) Call Spread; Najarian Owns (XLF) Calls; Najarian Owns (YHOO) Call Spread; Najarian Owns (BAC); Najarian Owns (WFT) Calls; Grasso Owns (ASTM), (BAC), (C), (COST), (PRST), (V), (WMT), (FAZ), (XLF), (AAPL); Terranova Owns (SUN), (OIH), (HOC), (HES), (POT); Terranova Is Short (GRMN), (CCL)

GE Is The Parent Company Of CNBC
NBC Universal Is The Parent Company Of CNBC

For Steve Grasso:
Stuart Frankel And Its Partners Own (AIZ)
Stuart Frankel And Its Partners Own (CUBA)
Stuart Frankel And Its Partners Own (GERN)
Stuart Frankel And Its Partners Own (MSFT)
Stuart Frankel And Its Partners Own (NWS.A)
Stuart Frankel And Its Partners Own (NXST)
Stuart Frankel And Its Partners Own (NYX)
Stuart Frankel And Its Partners Own (PDE)
Stuart Frankel And Its Partners Own (PRST)
Stuart Frankel And Its Partners Own (RDC)
Stuart Frankel And Its Partners Own (ROK)
Stuart Frankel And Its Partners Own (TLM
Stuart Frankel And Its Partners Own (XOM)
Stuart Frankel And Its Partners Own (XRX)
Stuart Frankel And Its Partners Own (SDS)

For Joe Terranova
Terranova Works For (VRTS)
Terranova Is Chief Market Strategist Of Virtus Investment Partners, Ltd.
Virtus Investment Partners Owns More Than 1% Of (XLY)
Virtus Investment Partners Owns More Than 1% Of (CAL)
Virtus Investment Partners Owns More Than 1% Of (CLB)
Virtus Investment Partners Owns More Than 1% Of  (DLR)
Virtus Investment Partners Owns More Than 1% Of  (EXR)
Virtus Investment Partners Owns More Than 1% Of (XLI)
Virtus Investment Partners Owns More Than 1% Of  (IGE)
Virtus Investment Partners Owns More Than 1% Of (XLB)
Virtus Investment Partners Owns More Than 1% Of (DBA)
Virtus Investment Partners Owns More Than 1% Of  (DBV)
Virtus Investment Partners Owns More Than 1% Of  (UA)

For  Mike Khouw
Cantor Fitzgerald & Co. Is A Market Maker In (AAPL)
Cantor Fitzgerald & Co. Is A Market Maker In (MSFT)
Cantor Fitzgerald & Co. Is A Market Maker In (YHOO)

© 2009 CNBC
Add This share icon
Text Size
  • digg share
ADD COMMENTS
Remaining characters


Current DateTime: 05:29:33 23 Nov 2009
LinksList Documentid: 29778428

Current DateTime: 10:08:23 23 Nov 2009
LinksList Documentid: 29779196

Current DateTime: 06:27:51 23 Nov 2009
LinksList Documentid: 29779199

Current DateTime: 01:08:15 23 Nov 2009
LinksList Documentid: 29779198
  Data is a real-time snapshot  *Data is delayed at least 15 minutes
Global Business and Financial News, Stock Quotes, and Market Data and Analysis

© 2009 CNBC, Inc.  All Rights Reserved.
A Division of NBC Universal
Thomson ReutersThomson Reuters