Fast Money's Trades Off Oil's Fall Portfolio - Stockpickr! Your Source for Stock Ideas

Fast Money's Trades Off Oil's Fall

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Created by barrons2

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Date updated:09-10-2008

Crude oil prices fell to a fresh five-month low on Friday on flagging demand in the United States and other consumer nations, extending crude's losses to 8 percent this week.

SLB
Schlumberger Ltd
$65.52
+1.42%
$64.23

The whole Fannie / Freddie thing could be bad for the dollar, reminds Guy Adami. That could trigger a vicious move higher in oil. If it happens, look at Schlumberger (SLB).

People owning SLB also tend to own: AXA FDX NOK NUE RTP TM AAPL

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FXB
Crrncyshr Bp Ster
$166.52
+0.66%
$166.11

I’m short the pound (FXB) but on the Fannie news I’d probably change my position on currencies and take a little off the table. I think the government backstop is bearish for the greenback.

People owning FXB also tend to own: BHP EWM EWS FXA FXC GLD IGE

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FTO
Frontier Oil Cp
$13.20
+1.23%
$13.06

Keep an eye on the refiners, adds Pete Najarian. I love the action in Frontier (FTO) and Tesoro (TSO). Lower oil means input costs are less and margins at the refiners should improve.

People owning FTO also tend to own: CROX DDR EVR FLA NEM PD KDKN.OB

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TSO
Tesoro Corp
$13.65
+3.72%
$13.45

Keep an eye on the refiners, adds Pete Najarian. I love the action in Frontier (FTO) and Tesoro (TSO). Lower oil means input costs are less and margins at the refiners should improve.

People owning TSO also tend to own: AHM AIZ ALB AMP AVT AXCA BBI

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