Fast Money's High Cost Trade
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Created by barrons2
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Date updated:07-09-2008

Now it appears higher prices are here to stay, especially those that are held captive by gasoline. As consumers deal with some rather unpleasant sticker shock how can you turn skyrocketing costs to your benefit?

symbol name last price % change open
  • +
  • GLD
    Spdr Gold Shares
  • $81.36
  • +0.16%
  • $81.89

According to strategic investor Dennis Gartman gold is probably the best play and he likes playing it with the gold ETF (GLD). “Gold goes up as inflationary concerns arise and the dollar gets weak,” he explains. “The trend is up right now. I’d buy on a $10 dip.”

People owning GLD also tend to own: AAPLBABENBMYCOSTGOOGIAAC

TheStreet.com Rating: No Rating What is this?

  • +
  • JJG
    Ipath Aig Grains
  • $60.85
  • -0.28%
  • $61.78

Grains present another play on upward pressure. “The trend is from the lower left to the upper right,” Gartman says. “And I think the ETFs are also the best way to play grains." In the space he recomends iPath AIG Grains ETN (JJG) and PowerShares DB Commodity Index Tracking Fund (DBA).

People owning JJG also tend to own: AUYDBADBCETFCPFESCCSEED

TheStreet.com Rating: No Rating What is this?

  • +
  • DBA
    Powershares Db Ag
  • $36.00
  • -1.80%
  • $36.82

Grains present another play on upward pressure. “The trend is from the lower left to the upper right,” Gartman says. “And I think the ETFs are also the best way to play grains." In the space he recomends iPath AIG Grains ETN (JJG) and PowerShares DB Commodity Index Tracking Fund (DBA).

People owning DBA also tend to own: USOBPTCOHEVEPEWDEWMEWT

TheStreet.com Rating: No Rating What is this?

  • +
  • NUE
    Nucor Cp
  • $52.11
  • +2.60%
  • $51.69

Steel names may also experience some tailwind due to inflation. “The lower dollar has helped US based companies including as US Steel (X), Nucor (NUE)and AK Steel (AKS),” explains Guy Adami because our steel is less expensive to overseas buyers.

People owning NUE also tend to own: AXAFDXNOKRTPSLBTMDEBS

TheStreet.com Rating: B What is this?

  • +
  • X
    United States Ste
  • $132.19
  • +1.80%
  • $130.61

Steel names may also experience some tailwind due to inflation. “The lower dollar has helped US based companies including as US Steel (X), Nucor (NUE)and AK Steel (AKS),” explains Guy Adami because our steel is less expensive to overseas buyers.

People owning X also tend to own: ATINUEOSRSLENRYLADP

TheStreet.com Rating: B+ What is this?

  • +
  • AKS
    A K Steel Hldg Co
  • $52.06
  • +2.46%
  • $51.28

Steel names may also experience some tailwind due to inflation. “The lower dollar has helped US based companies including as US Steel (X), Nucor (NUE)and AK Steel (AKS),” explains Guy Adami because our steel is less expensive to overseas buyers.

People owning AKS also tend to own: BACOGNLUKMMMMOUNHAKN

TheStreet.com Rating: B- What is this?

  • +
  • POT
    Potash Cp Saskatc
  • $181.85
  • +1.62%
  • $180.47

Also Potash (POT), Monsanto (MON) and Agrium (AGU) are inflation plays that should work through the end of the year, according to Joe Terranova and Pete Najarian. They believe that as farmers get higher prices for their crops they will turn a large portion of the money into fertilzer, seeds and other ag products. “Buy on the dip and sell on the rip,” says Terranova. “If you see a dramatic 10% pull back in the ag stocks, that’s when I’d buy. And the story will break at some point but right now I think it remains in tact,” adds Najarian.

People owning POT also tend to own: ABKBBDCFCDEFCXFREFWLT

TheStreet.com Rating: A+ What is this?

  • +
  • AGU
    Agrium Inc.
  • $85.60
  • +1.88%
  • $85.10

Also Potash (POT), Monsanto (MON) and Agrium (AGU) are inflation plays that should work through the end of the year, according to Joe Terranova and Pete Najarian. They believe that as farmers get higher prices for their crops they will turn a large portion of the money into fertilzer, seeds and other ag products. “Buy on the dip and sell on the rip,” says Terranova. “If you see a dramatic 10% pull back in the ag stocks, that’s when I’d buy. And the story will break at some point but right now I think it remains in tact,” adds Najarian.

People owning AGU also tend to own: AEMDNNNLSPOTRCISUTCK

TheStreet.com Rating: A- What is this?

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