The Word on Mighty Russia, Surge in Oil and more


Nothing’s Gonna Stop Us Now:
The headline: Dow Rises 70 Points, Shaking Off Disappointing Earnings, Surging Oil Prices
The word: “It’s a very strong market right now,” Eric Bolling says. Some important sectors are making all-time highs, but Pete Najarian warns not to get complacent. “Be concerned about the fact that this is still volatile,” he says.

Oil Surges 2%:
The headline:Crude Oil Jumps 2.1% to $67.65, Highest Settle Price Since Sept. 5, 2006

The word: One of the things that brought the market to where it is has been energy stocks, Eric says, which hit all-time highs today across the board. Oil was up because refineries are running at 89% when it should be 93-94%, he says. And while high oil prices used to bring up the market because of inflation, now high prices buoy energy stocks and the market follows. Eric likes Chevron (CVX), Tesoro (TSO) and Frontier (FTO); all great West Coast energy plays, he says. Pete Najarian’s pick is Marathon (MRO) and Tim Seymour of Red Star Asset Management, filling in for Jeff Macke tonight, likes BP (BP) and Royal Dutch Shell (RDS), which “have lagged the market for the last few years,” he says.

This Is War:
The headline:CME Sweetens CBOT Bid For 2nd Time in 5 Weeks Following ICE’s “Enhanced” Offer Yesterday

The word: The exchanges continue to print money, Pete says. And he doesn’t even think it’s the tip of the iceberg. As more and more people trade from home, the exchanges are only going to flourish, he says. He thinks Intercontinental Exchange (ICE) could have a target on its back down the line. Eric Bolling says there are still rumors about a takeover in NYMEX (NMX), his employer, and the stock is up 12% over the past three days. "There's something here," he says.

Mighty Russia:
The headline: Russian Stock Market Jumps 3.2% on Gazprom, Rosneft, Lukoil

The word: “It’s about time,” Tim says. Russia has been lagging the emerging markets all year, selling off because of political risk, but he thinks this is a great time to buy Russian securities. He likes the oil sector as companies like Gazprom begin to sell gasoline to western European nations at three times the rate that they sell domestically.

Russia isn’t the only way to go. Guy Adami points to South Korea, an emerging market up 30% since March. Emerging markets that have access to minerals and other commodities like Australia and Brazil will continue to rip, Eric says.

Down Jones:
The headline: UBS Downgrades Dow Jones, Saying Bancrofts May Not Accept News Corp. Bid

The word: Rupert Murdoch is the only bidder, Pete says, and eventually he’s going to get frustrated. News Corp. (NWS) doesn’t need Dow Jones (DJ) as much as people think. If the bid gets rejected, Pete thinks DJ slips below $40. Guy thinks the deal is going to happen and right now the two parties are just haggling over price.

That New Loan Smell:
The headline: Suspicious Surge From Auto Loan Company AmeriCredit (ACF)

The word: This company got slammed for its subprime exposure, Pete says, but the options speculation is “so aggressive” that there could be something to it.


Trader disclosure: On June 14, 2007, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders: Bolling Owns (BP), (ICE), (NMX), (T), Natural Gas; Is Short (FXI), Owns (FXI) Puts; Najarian Owns (MS), Owned (MS) on 6/13; Seymour Owns (AAPL), (BP), Gazprom, (RDS.B), (SBUX), Uranium; Red Star Asset Management Is Short (EEM), Owns Gazprom, Lukoil, Rosneft, Is Short (XOM), (EEM); Gazprom and Lukoil Are On Pink Sheets in U.S. But Trade on Exchange in London CNBC is a service of NBC Universal and Dow Jones _______________________________________________________
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