With gas prices through the roof and for sale signs popping up all over the neighborhood, now more than ever, Americans are desperate for a summer escape.
Although a good old fashioned road trip might be out of the question for many families there are other ways to unwind. This weekend, Americans unloaded their anger at the economy, through The Incredible Hulk. In fact, the high price of oil might be the best thing to hit Hollywood since Julia Roberts. The comic book based blockbuster along with Sex and the City has put the summer box office on pace to be 26% better than last year.
And although a golf holiday might be nice, it’s also out of reach, However, millions watched the U.S. Open from the comfort of their living rooms. Ratings for that tournament were up a whopping 15%.
So as people look to feel good on the cheap, we put together some simple trades from this year's simple pleasures.
Extravagance is out this year, exclaims Jeff Macke. Even people who have money won’t spend it. In keeping with that theme my plays are Disney , CorningIMAX and DirecTV .
Or look at Wal-Mart , adds Joe Terranova, as another way to trade the trend.
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Trader disclosure: On June 16, 2008, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Adami Owns (NUE), (AGU), (C), (GS), (INTC), (BTU), (MSFT); Macke Owns (ATVI), (MSFT), (INTC), (WMT), (HAS), (DIS); Najarian Owns (AAPL), (BHI), (CHK), (ENER), (HPQ), (TSO), (XLF); Najarian Owns (GME) Calls; Terranova Owns (GS), (LUV), (FXC); Terranova Is Long Dec 2008 Crude Oil; Terranova Is Short Dec 2009 Crude Oil; GE Is The Parent Company Of CNBC; NBC Universal Is The Parent Company Of CNBC
Terranova is chief alternatives strategist at Phoenix Investment Partners; Phoenix Investment Partners Ltd. Is Long Airtran Holdings, Alaska Air Group, American Airlines, Apache, BP, British Airways, Chesapeake Energy, Chevron, ConocoPhillips, Continental Airlines Delta Air Lines Deutsche Lufthansa, ENI SPA, ExxonMobil Gazprom, Hawaiian Holdings, Hess, Holly Corp. Husky Energy, JetBlue, Lukoil, Marathon Oil, Murphy Oil, Occidental Petroleum, PetroBras Intl. Fin. Petro-Canada, Petroleo Brasileiro S.A., Petroleos De Venezuela SA, Qantas Airways Republic Airways, Royal Dutch Shell, Skywest, Southwest Airlines, Suncor Energy, Sunoco, Tesoro Texaco Capital, Total SA, United Airlines, US Airways Group, Valero Energy