$80 OIL, RECORD LOW DOLLAR, STOCKS QUIET
The headline: Oil Touches Record Intraday High Of $80.18 After Supplies Fall More Than Expected.
related investing news
Pete Najarian tells the panel that commodities such as oil were the main drivers of Wednesday’s market.
Karen Finerman likes ConocoPhillips (COP) as a beneficiary of $80 oil.
Guy Adami recommends Apache (APA) as a trade on crude.
On a related note, Dylan Ratigan explains that the Dow gave up a gain of 52 points to end the session lower snapping a 2-day advance. It’s Up 6.6% in 2007
He also says that the dollar fell to a record low against the euro on rate-cut speculation.
THE BROTHERS BREAK OUT
The headline: Lehman Brothers (LEH), One Of Worst-Performing Financials This Year, Jumps 3%.
Pete Najarian believes the brokers have hit a bottom. He feels LEH earnings will be a big “tell” for the financial community.
The rest of the panel is left speechless. Karen Finerman says she thinks Lehman’s balance sheet is a big unknown.
Jeff Macke feels the heart of the problem is that the brokers themselves don’t know how badly they’re involved in the subprime slime.
On a related note, in this conversation Karen says the NASDAQ (NDAQ) is interesting as a stock on trading volume.
The headline: Amgen (AMGN) Continues Run Today On Positive Anemia Drug News.
Pete Najarian says he doesn’t like AMGN. He feels it’s time to get out of this stock.
The headline: Target (TGT) Reviewing Their Options For Credit Card Receivables.
Karen Finerman says the news makes this stock attractive to her in the after-market.
Jeff Macke agrees.
SAVE MONEY LIVE BETTER
The headline:Wal-Mart (WMT) Replaces "Always Low Prices" With "Save Money. Live Better" Ad Campaign.
Jeff Macke suggests ways in which to fix Wal-Mart. They are:
1) Focus more on value, less on low prices
2) Spend more on store maintenance
3) Give CEO Lee Scott the boot
Macke doesn’t like Wal-Mart stock.
Karen Finerman feels differently. She likes WMT as a long term hold.
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Trader disclosure: On Sept. 12, 2007, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Macke Owns (HAS), Najarian Is Short (GS), Finerman's Firm Owns (DVA), (WMT), (COP), (JNJ); Finerman's Firm Owns S&P 500 Puts; Finerman's Firm Owns Russell 2000 Puts; NBC Universal Is The Parent Company Of CNBC