"When you’re looking at the metals trade it’s important to understand the difference between ferrous metals and non-ferrous metals. Ferrous means iron and steel and non-ferrous means base metals like copper, tin and aluminum," he says.
For most investors the easiest way to play the space is with ETFs.
"In ferrous metals I’d look at the SPDR S&P Metals and Mining ETF and in base metals I'd look at the Powershares DB Base Metals Fund ETF ," counsels Seymour.
"Or if you want to play precious metals look at the PowerShares DB Precious Metals ETF , he adds.
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Trader disclosure: On Feb. 18th, 2008, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Seymour Owns (BAC), (EEM), (EEM), (PBR), (XOM), (FXI); Seymour's Firm Owns (VIP); Terranova Owns (FCX), (XBI), (AMGN), (KCE), (DIS); Terranova Owns (IBM) & (IBM) Call Spread; Terranova Owns (AMGN) Puts; Adami Owns (AGU), (BTU), (C), (GS), (INTC), (MSFT), (NUE); Najarian Owns (CHK) Put Spread, Najarian Owns (CBS) Calls, Najarian Owns (EEM) Call Spread, Najarian Owns (FCX) & (FCX) Calls, Najarian Owns (GS) Calls, Najarian Owns (GDX) Call Spread, Najarian Owns (GLD) Call Spread, Najarian Owns (HPQ) Spread, Najarian Owns (MSFT) & (MSFT) Short Calls, Najarian Owns (MS) & (MS) Short Calls, Najarian Owns (MOS) Call Spread, Najarian Owns (STI) Call Spread, Najarian Owns (WFC) & (WFC) Calls
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