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Energy Weakness Lasts Thru Summer: Top Commodity Pro

If you’re an energy bull, you shouldn’t miss our conversation with top commodity trader Mark Fisher.

Fisher who is the CEO of MBF Clearing and one of the biggest traders of oil and energy in the nation tells us he thinks the path of least resistance is lower.

“If you look at the commitment of traders report, people got too long too fast,” he says.

“I think the sell in May phenomenon that people often talk about – it may be particularly true for energy. I’d shut the doors for a while in energy – for the summer,” he adds.

Although there are plenty of negative catalysts – Fisher thinks the recent price action says it all. “Oil sold off $8 in the last week and a half. The market is telling you something.”

Trader Joe Terranova agrees. “I think the price of oil is very vulnerable here,” he says.

However, after the summer, both traders think the dynamic changes. “In October or November I think we could push to new highs,” says Fisher. But not in the near-term; not now.



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Trader disclosure: On May 7, 2012, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s "Fast Money" were owned by the "Fast Money" traders; Joe Terranova is long VRTS; Joe Terranova is long MCD; Joe Terranova is long JPM; Joe Terranova is long UPL; Joe Terranova is long CHKM; Joe Terranova is long HPQ; Joe Terranova is long LQD; Joe Terranova is long LPX; Joe Terranova is long CHRW; Joe Terranova is long BAC; Stephen Weiss is long JPM; Stephen Weiss is long AIG; Stephen Weiss is short NFLX; Jon Najarian is long call spreads AAPL; Jon Najarian is long call spreads CIEN; Jon Najarian is long call spreads GS; Jon Najarian is long call spreads FFIV; Jon Najarian is long call spreads FIO; Jon Najarian is long call spreads NFLX; Jon Najarian is long call spreads AH; Jon Najarian is long call CIGX; Jon Najarian is long call CBOE; Jon Najarian is long call CME; Jon Najarian is long call DDMG

For Brian Kelly
Brian Kelly is long KRE
Brian Kelly is long USG
Brian Kelly is long VZ
Brian Kelly is long BRITISH POUND
Brian Kelly is short SWISS FRANC

For Mark Fisher
Nothing to disclose

For Michael Pachter
Nothing to disclose

For Tim Conder
Nothing to disclose

For Win Thin
Nothing to disclose


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