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Dan Dicker: Expect Upside Surprises in These Names

Earnings season kicks off Tuesday and MercBloc’s Dan Dicker thinks we’ll see some upside surprises from commodity-related names.

That’s because while there’s been a rollback in commodities prices coming into the third quarter, the average price of Brent crude hasn’t come down significantly. Plus, copper’s decline didn’t start until the beginning of September.

Earnings & Commodity Prices

Dicker told the “Fast Money” team he believes that adds up to good news for commodity-related companies.

“I think you are going to have some tremendous surprises in terms of earnings from these commodity-related stocks, particularly mega-cap oil companies, oil services companies, and mid-cap E&Ps,” he said. “You are going to get some pops out of all of these.”

It’s a similar story to the previous quarter, where Dicker said two-thirds of the growth was due to commodities and a weak dollar.

But Alcoa , which reports after the bell, isn’t a name he thinks will be among those who will deliver a surprise to the upside. Aluminum is the only commodity that hasn’t had the spike the others had, and Dicker expects another disappointing quarter from the company.

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Trader disclosure: On Oct 11, 2011, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s "Fast Money" were owned by the "Fast Money" traders; Terranova is long VRTS; Terranova is long LQD; Terranova is long MUB; Terranova is long FCX; Terranova is long TBT; Terranova is long OXY; Terranova is long HOS; Terranova is long F; Terranova is long LULU; Terranova is long OIH; Terranova is long CAT; Terranova is long AXP; Terranova is long EMC; Terranova is long WFC; Terranova is long AAPL; Terranova is long IBM; Terranova is long Silver December $40 puts; Edwards is long XLK

For Patty Edwards
Trutina Capital is long MCD
Trutina Capital is long POT
Trutina Capital is long SYT
Trutina Capital is long ORCL
Trutina Capital is long SBUX
Trutina Capital is long YUM
Trutina Capital is long MCD
Trutina Capital is long C
Trutina Capital is long PEP
Trutina Capital is long MAT

For Vic Alboini
No disclosures

For David Grossman
No disclosures

CNBC.com with wires.