Fast Money's Oil Rebound Plays
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Date updated:08-19-2009

On Tuesday's "Fast Money" TV show, the traders engaged in a heated discussion on oil, which crossed $70 a barrel in afterhours trading. Joe Terranova said the trade is extremely volatile, and no one has played this right in the last six weeks. What's the trade?

symbol name last price % change open
  • +
  • OIH
    Oil Service Holdr
  • $118.64
  • +1.32%
  • $120.01

If oil can sustains above $70 I'd go after the (OIH), says Joe Terranova. But oil would need to sustain above $70 for the next 5 session to take out the double top.

People owning OIH also tend to own: BTUSPYXLEXOMDVNMPETSUN

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  • +
  • APA
    Apache Cp
  • $97.77
  • +1.35%
  • $98.28

I’d play the energy space with Apache (APA), adds Guy Adami. If the stock gets above $86 and holds I’m a buyer. Terranova took the opposite view, saying natural gas could be heading for a complete liquidation on the long side if it breaks below $3.

People owning APA also tend to own: BGCBHPCBIIPSSSRIAAPLAUY

TheStreet.com Rating: C+ What is this?

  • +
  • KOL
    Market Vectors Co
  • $34.75
  • 0.00%
  • $N/A

Across the board I like coal (KOL), adds Pete Najarian. It’s a sector that was flushed down the toilet.

People owning KOL also tend to own: AUYCHUDARECLGRMNNSTRPGH

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  • +
  • OXY
    Occidental Pet
  • $82.14
  • +2.69%
  • $81.23

If you think oil is going to $85 I’d get long OXY (OXY), counsels Steve Grasso.

People owning OXY also tend to own: AAALLAPCBUDCOPCVXDOW

TheStreet.com Rating: B What is this?

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