Potash (POT) dropped 4%. The firm said it will cut production due to declining demand. - I'd stay away at current levels, muses Steve Grasso.
Chesapeake Energy (CHK) dropped 5%. Nat gas prices plunged 9%, even more than the stock of this producer. - The pull back makes absolute sense, says Pete Najarian. Nat gas won't go up in a straight line.
Home Depot (HD) dropped 4%. Negative news about the economy dragged down homebuilders as well as this home improvement retailer. - I think the stock looks interesting at this level, says Tim Seymour.
Southern Copper (PCU) dropped 4%. This firm moved in tandem with copper which plunged Thursday, as broader market sentiment soured. - I'd wait for a pullback to about $15, counsels Steve Grasso.
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Trader disclosure: On May 21st, 2009, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Najarian Owns (APC) Call Spread; Najarian Owns (BX) Calls; Najarian Owns (INTC) Calls; Najarian Owns (ISIS); Najarian Owns (MOS) Call Spread; Najarian OWns (XHB) Call Spread; Najarian Owns (XLB) Call Spread; Najarian Owns (XLU) Call Spread; Najarian Owns (BP) Call Spread; Terranova Owns (GENZ), (ABI), (JOYG), (XBI), (TER); Terranova Owns Oil Futures; Terranova Owns Nat Gas Futures; Terranova Owns (DIS) Calls; (XOM) Calls; Terranova Owns June Gold Futures; Grasso Owns (NYX), (XLF), (RIMM), (V); Grassso's Clients Owns (PETM); Grasso's Firm Owns (WMT); Grasso's Client Owns (SUN); Grasso Owns (NYX); Seymour Owns (AAPL), (BBT), (BX), (EEM), (FLR), (TTM), (INFY), (MGM), (PBR); Seymour is Short (FCX), (POT)