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Consumer Discretionary

Dylan Ratigan says the oil plunge is helping consumer stocks... Proctor & Gamble's earnings reports show an ability to pass input costs of oil on to the consumer.

Karen Finerman bought calls on Abercrombie -- the stock has gotten hit a lot, but has a good balance sheet, and the valuation risk vs. reward is attractive. Tim Seymour is more pessimistic suggesting that it could be the rebate checks suggesting robustness and next year's earnings arent priced in yet. Jeff Macke likes Wal-Mart and Costco , but not P&G so much.



















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On Aug 5, 2008, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Finerman's Firm Is Short (IYR) (IJR) (MDY) (SPY) (IWM) (COF) (BBT) (XLF), Finerman's Firm And Finerman Own (C) Leaps, Finerman Owns (GS), Finerman's Firm Owns (MSFT) (PM) (RIG) (SUN) (TSO) (VLO) (WLP) (UNH) (AET), Finerman's Firm Owns (ANF) Call Spreads, Finerman's Firm And Finerman Own (FLS), Macke Owns (MSFT) (WMT) (COST) (DIS), Macke Is Short (TM), Adami Owns (AGU) (C) (BTU) (GS) (INTC) (MSFT) (NUE), Seymour Owns (AAPL) (CSCO) (INTC) (MER) (MSFT) (TSO) (EEM) (F) (SHLD), Seygem Asset Management Owns Gazprom OAO, Adami Owns (C) (AGU) (BTU) (INTC) (MSFT) (NUE), Jay Pestricelli has no holding in (CSCO), TD Ameritrade has no disclosures