The Word On Gas Prices, Bunge...

PARADOX AT THE PUMP:

The headline: Oil Prices Are Falling While Gasoline Is Rising

The word: Eric Bolling says gas is at an all time high because refineries are operating at 89% capacity when they should be closer to 93%. He says, consequently Tesoro (TSO) and Valero (VLO) are buys on recent dips.

A CONSOLING FORECAST:

The headline: Sony (SNE) Sees Record Full-Year Profit Despite PlayStation 3 Losses

The word: Jeff Macke is skeptical of the news. He says SNE lost $914 million in PlayStation 3 in three months.

CROP TRADE UPDATE:

The headline: Bunge (BG) Soars on Soybean Record, While Deere (DE) Stumbles

The word: Eric Bolling says soybeans are at a 2-year high. Look for beans in the teens, he says.

PHONING IN A FALSE RUMOR:

The headline: Apple (AAPL) Shares Dip Sharply, Then Recover After False Report Of iPhone Delay

The word: Tim Strazzini says there will be rumors and missteps but Apple seems committed to rolling out the iPhone on time. Tim also thinks this is a good time for investors who are holding AAPL to sell calls on their long stock.

BEWILDERING BUILDING:

The headline: Building Permits Drop To Lowest Level In Nearly 10 Years, But New Home Starts Rise

The word: Guy Adami says he’s still holding Toll Brothers (TOL), but at $27.75 he’s out.

Trader disclosure: On May 16, 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 (SWY); Strazzini Owns (T), (YHOO), (NWS.A) (IBM); Bolling Owns (NMX), (XOM) Bolling Owns Gold, Silver, Coffee, Sugar; CNBC Is A Service Of NBC Universal And Dow Jones

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