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Money in Rare Earth Elements?

"Fast Money" continues to monitor current tensions with China over a possible reduction in their exports of rare earth elements.

The People's Republic is the largest producer of these elements, which are used in everything from Apple's iPads to batteries. That has caused US producers like Molycorp and Rare Element Resources to see huge runs in their stocks.

So how should you play it? The traders have a few ideas. Watch the video to see the full segment.

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Trader disclosure: On Oct. 20, 2010, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Cortes is short crude oil; Cortes is short gold; Cortes is short (BIDU); Cortes is short (RSX); Cortes owns U.S. Treasuries; Cortes owns the S&P 500; Adami owns (AGU), (BTU), (NUE), (C), (GS), (INTC), (MSFT); Adami’s wife works at Merck; Jon Najarian owns (AAPL) calls; Jon Najarian owns (BA) calls; Jon Najarian owns (GS) calls; Jon Najarian owns (NFLX) calls; Jon Najarian owns (PAAS) puts; Finerman owns (AAPL); Finerman and Finerman’s firm owns (BAC); Finerman and Finerman’s firm owns (JPM); Finerman and Finerman’s firm owns (GOOG); Finerman’s firm owns (IBM); Finerman’s firm owns (HPQ); Finerman’s firm owns (MSFT); Finerman's firm is short (IJR); Finerman's firm is short (MDY); Finerman's firm is short (SPY); Finerman's firm is short (IWM); Finerman’s firm owns S&P 500 puts; Finerman’s firm owns Russell 2000 puts

For Brian Kelly:
Accounts managed by Kanundrum Capital own (GLD)
Accounts managed by Kanundrum Capital own (GDXJ)
Accounts managed by Kanundrum Capital own (SLV)
Accounts managed by Kanundrum Capital own (SGG)
Accounts managed by Kanundrum Capital own (POT)
Accounts managed by Kanundrum Capital own (JJG)
Accounts managed by Kanundrum Capital own (JO)
Accounts managed by Kanundrum Capital own (UUP)
Accounts managed by Kanundrum Capital own (REE)
Accounts managed by Kanundrum Capital own (MCP)
Accounts managed by Kanundrum Capital own (JEF)
Accounts managed by Kanundrum Capital own (TIP)
Accounts managed by Kanundrum Capital own the Swiss Franc
Accounts managed by Kanundrum Capital are short the UK Pound
Accounts managed by Kanundrum Capital are short the Mexican Peso

For Patty Edwards
Edwards owns (AAPL) for clients
Edwards owns (BA) for clients
Edwards owns (EBAY) for clients
Edwards owns (FCX) for clients
Edwards owns (GS) for clients
Edwards owns (JPM) for clients
Edwards owns (MAT) for clients
Edwards owns (USB) for clients

For Eric Jackson
***No Disclosures***

For Peter Misek
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For Charles Biderman
***No Disclosures***

For Stephen Weiss
***No Disclosures***

For Mike Khouw
***No Disclosures***

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