Question #1: Beth from Massachusetts asks about gold ETF’s. Historically gold has been a safe haven and she wants to know if the market tanks, would investors trade gold more like an equity than a commodity because of these relatively new financial instruments?
Guy Adami says the key to Beth’s scenario is why the market tanks. If it tanks because of a global slowdown investors would sell-off a gold ETF like an equity. But if it tanks on geo-political events, gold ETF’s should go higher like a commodity. Either way, Guy says the stock to own in the space is Freeport-McMorRan (FCX).
Question #2: Steve from New York (who manages the band VAST) wants to know about Chevron (CVX). He says the stock price barely moved despite the company’s dividend and earnings, and he wonders if it’s time to move on?
Eric Bolling says own CVX and he tells Steve "stay with this stock."
On APR 27, 2007, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Strazzini Owns (NWS-A), (CBS) Bolling Owns (NMX), (SZE), (VE), (XOM),Gold, Silver, (TSO 120 puts -- May), Bolling is short Nasdaq Futures, and is short S&P Futures