Brent is becoming a safe haven trade and has been finding a correlation with gold to a much larger degree than anything oil-related should, he said.
“Global growth is terrible, demand is going down, everything should point to a crude price going lower and yet it’s really sticky up here,” Dicker added. “So you have to look at something else that’s affecting the prices and that to me seems to be very much the safe haven trade.”
To take advantage of Brent’s pricing, Dicker suggests playing E&P companies like Apache , Anadarko Petroleum , Chesapeake Energy, SandRidge Energy, EOGResources and Cabot Oil & Gas .
“If Brent stays sticky at $115, these guys will absolutely mint money over the next two quarters,” he said.
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Trader disclosure: On Sep 8, 2011, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s "Fast Money" were owned by the "Fast Money" trader; Seymour owns (AAPL); Seymour owns (BAC); Seymour owns (INTC); Adami Owns (AGU); Adami Owns (C); Adami Owns (GS); Adami Owns (INTC); Adami Owns (MSFT); Adami Owns (NUE); Adami Owns (BTU); Finerman owns (AAPL); Finerman owns (BAC); Finerman owns (JPM); Finerman owns (GOOG)
For Karen Finerman
Finerman and Finerman’s firm own (AAPL)
Finerman’s firm own (BAC) leaps
Finerman’s firm owns (JPM) stock and (JPM) leaps
Finerman’s firm owns (IBM)
For Brian Stutland
Stutland Equities is a market maker holding positions in (VIX) futures and options and (VXX) stock and options
Stutland Equities holds hedged option positions in (SPX) and (SPY)
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