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Is Oil The Next Big Stock Market Story?

Looking for the next big stock market story? As far as we can tell, it looks to be in the energy complex.

Prices for light crude oil settled above $90 a barrel on Thursday with China among the key catalysts behind that surge. (China's oil demand increased 14% in the first half of 2010, according to the International Monetary Fund.)

However the domestic economy is also driving the oil bulls.

Data on Thursday showed new claims for jobless benefits dipped last week and consumer spending increased in November for a fifth straight month, reinforcing views of a solid economic growth in the fourth quarter.

As a result the march higher in oil doesn’t show any signs of slowing.

"Is it going to break $100 next year at some point? Probably." says said Timothy Parker, a natural resource-focused fund manager at T. Rowe Price Group.

”With demand coming from all over the world I also expect to see prices go higher,” says strategic investor Dennis Gartman on CNBC’s Fast Money. ”But that's a good thing,” he adds. “Take it as a sign the economy is improving.’

How should you position. What’s the trade?

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Not a Scientific Survey. Results may not total 100% due to rounding.

Instant Insights with the Fast Money traders

If you’re bullish I’d look at the USO , says Karen Finerman, especially if oil contracts are in backwardation.

I’d play energy long BP, says Anthony Scaramucci. The stock has been too beaten up.

I like BP as well as Chevron and Exxon, says Jon Najarian. And put SandRidge Energy on the radar for unusual options action.

What do you think we want to know!












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STREET FIGHT

With gold down for the second day in a row, yet touching record highs earlier this month - is this a bubble waiting to burst? Or is it the best trade of the new year?

Zach Karabell calls gold the “classic fool’s gold trade" while Dennis Gartman expects considerable upside from here.

Who makes the better argument? Watch the video and find out now!




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Trader disclosure: On Dec. 23, 2010, following stocks and commodities mentioned or intended to be mentioned on CNBC’s "Fast Money" were owned by the "Fast Money" traders; Matt Hougan owns (VWO). Jon Najarian owns (ADBE), is short (ADBE) calls. Jon Najarian owns (BBT), is short (BBT) calls. Jon Najarian owns (BBY), is short (BBY) calls. Jon Najarian owns (CSCO), is short (CSCO) calls. Jon Najarian owns (GS), is short (GS) calls. Jon Najarian owns (MSFT), is short (MSFT) calls. Jon Najarian owns (ODP) calls. Jon Najarian owns (POT), is short (POT) calls. Jon Najarian owns (RHT), is short (RHT) calls. Jon Najarian owns (VZ) call spreads. Jon Najarian owns (EXC) puts. Jon Najarian owns (ANW). Jon Najarian owns (IBM), is short (IBM) calls. Jon Najarian owns (SD), is short (SD) calls. Jon Najarian owns (V), is short (V) calls. Jon Najarian owns (DF). Karen Finerman owns (AAPL), (BAC), (GOOG), (JPM) and (MSFT).

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DENNIS GARTMAN
Funds Managed by Dennis Gartman are short the Euro
Funds Managed by Dennis Gartman are short the Yen
Funds Managed by Dennis Gartman are long Gold
Funds Managed by Dennis Gartman are long Crude

KAREN FINERMAN
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 is long S&P puts
Finerman's firm is long Russell 2000 puts
Finerman's firm owns (ARO)
Finerman's firm owns (AVP) calls
Finerman's firm owns (BBY)
Finerman's firm owns (JPM) and (JPM) leaps
Finerman's firm owns (MCD)
Finerman's firm owns (MSFT)
Finerman's firm owns (YUM)

ANTHONY SCARAMUCCI
Scaramucci and Skybridge Capital own (AAPL)
Scaramucci and Skybridge Capital own (C)
Scaramucci and Skybridge Capital own (DELL)
Scaramucci and Skybridge Capital own (EBAY)
Scaramucci and Skybridge Capital own (GS)
Scaramucci and Skybridge Capital own (NKE)
Scaramucci and Skybridge Capital own S&P 500
Scaramucci and Skybridge Capital own USD
Scaramucci and Skybridge Capital Own (JNJ)
Scaramucci and Skybridge Capital Own (KIRK)

ZACAHRY KARABELL
Karabell and River Twice Capital own (AAPL)
Karabell and River Twice Capital own (C)
Karabell and River Twice Capital own (FCX)
Karabell and River Twice Capital own (FXI)
Karabell and River Twice Capital own (GE)
Karabell and River Twice Capital own (GS)
Karabell and River Twice Capital own (POT)
Karabell and River Twice Capital own (RIMM)
River Twice Capital Owns (SQM)
River Twice Capital owns (CF)
River Twice Capital owns (CSCO)
River Twice Capital owns (GS)
River Twice Capital owns (MSFT)
River Twice Capital is short (SPY)

STEPHEN WEISS
Weiss has no disclosures in Gold

MATT HOUGAN
Hougan has no disclosures on GLD, IAU

BORIS SCHLOSSBERG
Sclossberg has no disclosures

BRIAN STUTLAND
Stutland Equities is a market maker holding hedged positions in VIX, SPX, and SPY options
Stutland Equities is a market maker holding positions in VIX futures

EMMA SUGARMAN
Emma Sugarman has no disclosures

JON NAJARIAN FAST FIRE SOT
Jon Najarian has no disclosure in (DF)



CNBC.com and wires

Symbol
Price
 
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BP.
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CVX
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SD
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USO
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XOM
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