Fast Money's Trades Off Oil's Fall
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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.

symbol name last price % change open
  • +
  • SLB
    Schlumberger Ltd
  • $65.56
  • +1.44%
  • $64.37

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: AXAFDXNOKNUERTPTMAAPL

TheStreet.com Rating: B- What is this?

  • +
  • FXB
    Crrncyshr Bp Ster
  • $165.40
  • 0.00%
  • $N/A

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: BHPEWMEWSFXAFXCGLDIGE

TheStreet.com Rating: No Rating What is this?

  • +
  • FTO
    Frontier Oil Cp
  • $12.22
  • +0.33%
  • $12.08

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: CROXDDREVRFLANEMPDKDKN.OB

TheStreet.com Rating: C What is this?

  • +
  • TSO
    Tesoro Corp
  • $12.90
  • -1.60%
  • $13.09

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: AHMAIZALBAMPAVTAXCABBI

TheStreet.com Rating: C What is this?

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