Not too long ago, $50 oil was an unimaginable price. But since clearing that hurdle almost 3 years ago, the big question has become not if, but when will oil reach $100. A CIBC strategist said last week that it may be sooner than you think as higher oil prices aren't deterring demand in emerging nations like they used to.
If this scenario plays out – what’s the trade?
Eric Bolling says if oil touches $100 a barrel, stay out of the airlines and homebuilders. He adds the best trades will be integrated oil companies, oil services and Suncor (SU).
Jeff Macke says if the scenario plays out consumers will cocoon. He likes Hewlett-Packard (HPQ), Dell (DELL) and Intel (INTC). He adds get long online shopping names such as Amazon (AMZN) and eBay (EBAY) as well as Fedex (FDX).
Guy Adami likes Jacobs Engineering (JEC) in this scenario.
Pete Najarian prefers solar stocks such as Suntech (STP) if the market gets to $100.
You might be interested in knowing that on Monday, Bloomberg News reported that a record number of options players are betting on such a price.
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Trader disclosure: On July 23rd 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 (EMC), (INTC), (HAS); Najarian Owns (CLX), Najarian Owned (CLX) on 7/20/07; Bolling Owns (BP), (XOM), Gold, Silver, Copper, Platinum; Bolling Is Short Crude Oil