But with so many players out of the game, this could be your chance to make a power play.
Take it from Warren Buffett, who quoted legendary center Wayne Gretzky in a recent New York Times op-ed. He said, "I skate to where the puck is going to be, not to where it has been."
Make no mistake, the Oracle’s is in the game. In fact, Wall Street's “Great One” is making a Lemieux-like run at ConnocoPhilips with a monster bet on a comeback in oil prices.
Of course Gretsky, Lemieux and Buffett are all pros. But you might not be. So where should go to play when you're ready to lace up?
“I’d take my time before getting back in. But when you’re ready Toyota and Target are excellent operators that are caught in a confluence of events,” says Jeff Macke.
“Right now I’m short Toyota but I’d get long both of these names as things improve."
However, not yet. Macke's final word of advice -- miss the first leg higher "let them go up 5% before you stick your toe in.”
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Trader disclosure: On Nov.19, 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 (AGU), (BTU), (C), (GS), (INTC), (MSFT), (NUE); Macke Owns (SDS), (UUP), (DIS), (MCD), (WMT), (MSFT); Macke Is Short (YHOO), (TM); Najarian Owns (IYR) Puts; Najarian Owns (MER) Put Spread; Najarian Owns (CVX) Put Spread; Finerman's Firm Owns (OIH) Puts; Finerman's Firm Owns (MSFT), (SUN); Finerman's Firm Is Short (USO), (IYR), (IJR), (MDY), (SPY), (IWM), (RTH), (BBT), (VNO), (COF), (IYR)
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