For every 1 cent uptick in the price of gasoline, we lose $600 million in consumer discretionary, says Patty Edwards. I’d keep a close eye on the retailers.
The price action in Walmart may speak to that trend, says Steve Coretes. Their customers are very sensitive to price increases in food and energy.
What do you think? We want to know!
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Trader disclosure: On December 23, 2010, following stocks and commodities mentioned or intended to be mentioned on CNBC’s "Fast Money" were owned by the "Fast Money" traders; Adami owns (AGU), (C), (GS), (INTC), (MSFT), (NUE), (BTU); Adami's wife works at (MRK); Cortes is short (LVS); Cortes is short (XRT) vs. (SPY); Cortes is short Nat Gas; Cortes is short Gold; Cortes is short Corn; Cortes is long USD vs. Canadian Dollar; Cortes is long USD vs. Mexican Peso; Cortes is long treasuries; Jon Najarian owns (MSFT), and is short (MSFT) calls; Jon Najarian owns (IBM), and is short (IBM) calls; Jon Najarian owns (XLF), and is short (XLF) calls; Jon Najarian owns (GS), and is short (GS) calls; Jon Najarian owns (ADBE), and is short (ADBE) calls; Jon Najarian owns (V), and is short (V) calls; Jon Najarian owns (RHT), and is short (RHT) calls; Jon Najarian owns (CHK), and is short (CHK) calls; Jon Najarian owns (BBT), and is short (BBT) calls; Jon Najarian owns (SD), and is short (SD) calls
PATTY EDWARDS
Edwards owns (AAPL) for clients
Edwards owns (MSFT) for clients
Edwards owns (GS) for clients
Edwards owns (C) for clients
Edwards owns (CME) for clients
Edwards owns (V) for clients
Edwards owns (NKE) for clients
Edwards owns (AMZN) for clients
Edwards owns (F) for clients
Edwards owns (XLK) for clients
Edwards owns (GLD) for clients
Edwards owns (SLV) for clients
Edwards owns (GE) for clients
COLIN MCGRANAHAN
McGranahan Owns (KSS), (AMZN), (ROST), (SWY), (GPS)
Bernstein Is A Market Maker In (BBBY), (SPLS)
(TGT) Is Or In Past 12 Months Was A Non-Investment Banking Client Of Bernstein (Securities Related Services), Bernstein Received Compensation
Bernstein Or Affiliate Expects To Receive/Seek Investment Banking Compensation From (BBBY), (SPLS), (TGT) In Next 3 Months
DENNIS GARTMAN
Funds managed by Dennis Gartman are short the Euro
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