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
  • $49.74
  • -7.51%
  • $51.50

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: ACIAINVANRAPCBBDBTUCHK

TheStreet.com Rating: A- What is this?

  • +
  • FXB
    Crrncyshr Bp Ster
  • $162.69
  • -2.69%
  • $164.48

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
  • $10.95
  • -10.61%
  • $12.00

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
  • $9.69
  • -12.94%
  • $10.84

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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