His name may not be familiar to Main Street, but on Wall Street it’s widely known and widely respected.
We’re talking about Mark Fisher, the Founder/CEO of MBF Clearing Corp.
Fisher started as a ‘runner’ on the floor of the COMEX in the 1980’s and over the years his aptitude for trading made him among the most respected money pros in the world.
Fisher is also a student of the markets as well as author of “The Logical Trader: Applying A Method to The Madness.”
On Wednesday November 30th Fisher joined the Fast Money gang on the desk for the hour-long Fast at 5 broadcast.
Because it’s not unusual for pro traders to analyze his every move, we thought you might appreciate having his latest comments all in one place, to more easily glean insights.
Mark Fisher's thoughts on four major trading themes follow:
1. Sharp Stock Market Rally
Fisher thinks the S&P continues to rally but he’s not sure for how long. “Right now, I think money managers are caught under-invested,” he says.
That suggests into the end of the year the market will see a chase for performance.
However he also thinks the rally hits a wall. “I don’t know if the rally ends in December or January but I think it ends.”
2. Nat Gas
If you’re short nat gas you might want to cover. Fisher tells us that nat gas is approaching a level of ‘ridiculousness.’
He sees nat gas climbing in both the short-term and long-term.
”Over the next 2-4 weeks, I think we see a weather scare that will cause nat gas to jump. And in the long-term, he says, “I’m probably early but I think we’re near the start of a big bull market in nat gas.”
3. Crude Oil
Fisher doesn’t think investors who trade oil understand the significance of events underway in the Mideast.
”Investors are underestimating the importance of what's happening in Iran. If something happened to Iranian production, whether an embargo or whatever, we could see the price of oil jump as much as $25 in time minutes.”
It might be worth putting BofA on the radar.
Fisher tells us that “BofA under $5 is almost like a bet on the United States.” “BofA under $5 is like Citi under $1,” he says.
We take that to mean around $5 the path of least resistance for BofA should be higher because the only thing that would drive the stock much lower would be a belief that the government won’t backstop the firm – and Fisher doesn’t see that scenario playing out in any capacity.
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Trader disclosure: On Nov 30, 2011, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s "Fast Money" were owned by the "Fast Money" traders; Terranova is long VRTS; Terranova is long LQD; Terranova is long MUB; Terranova is long AXP; Terranova is long IBM; Terranova is long EMC; Terranova is long SU; Terranova is long CNI; Terranova is long DECK; Terranova is long NCR; Terranova is long HES; Terranova is long CSCO; Terranova is long CAT; Terranova is long LULU; Terranova is long SWN; Terranova is long UPL; Terranova is long TRLG; Terranova is long SBUX; Najarian is long AAPL; Najarian is long C; Najarian is long INTC; Najarian is long AKS calls; Najarian is long JPM calls; Najarian is long WDC calls
For Dennis Gartman
Gartman is long GOLD Futures
Gartman is long S&P 500 futures
Gartman is short euro currency
Gartman's Canadian fund is long of gold
Gartman's Canadian fund is long Canadian dollar
Gartman's Canadian fund is long Australian dollar
For Mark Fisher
Fisher owns CCJ
For Jim Caron
Firm makes market in U.S. Treasuries
For Paul Hickey
For John Calipari
For Abigail Doolittle
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