Fast Money's Volatile Oil Trade
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Date updated:08-13-2008

Oil prices fell on Monday as a drop in crude imports by No. 2 consumer China outweighed concerns over supply disruptions stemming from the conflict between Russia and Georgia.

symbol name last price % change open
  • +
  • APA
    Apache Cp
  • $98.87
  • -0.17%
  • $97.38

The oil trade is probably being driven by the strong dollar, explains Joe Terranova. But it's natural gas that's got my attention. I think gas is probably finding a bottom. Look at Apache (APA)and Chesapeake (CHK) he says. And if oil moderates and stops going down the integrated names should trade higher.

People owning APA also tend to own: BGCBHPCBIIPSSSRIAAPLAUY

TheStreet.com Rating: C+ What is this?

  • +
  • CHK
    Chesapeake Energy
  • $24.22
  • -2.42%
  • $24.42

The oil trade is probably being driven by the strong dollar, explains Joe Terranova. But it's natural gas that's got my attention. I think gas is probably finding a bottom. Look at Apache (APA)and Chesapeake (CHK) he says. And if oil moderates and stops going down the integrated names should trade higher.

People owning CHK also tend to own: ACIAINVANRAPCBBDBTUCMCSK

TheStreet.com Rating: C What is this?

  • +
  • XOM
    Exxon Mobil Cp
  • $72.58
  • +0.11%
  • $71.82

I'd look at ExxonMobil (XOM) on a valuation basis, Guy Adami suggests.

People owning XOM also tend to own: AAAIGIBMINTCJNJJPMKO

TheStreet.com Rating: C+ What is this?

  • +
  • FXB
    Crrncyshr Bp Ster
  • $165.72
  • +0.16%
  • $165.34

The fall in oil comes from weakness in the economy, says Karen Finerman. I’m short the British pound (FXB) because I think the economic slowdown will creep across the globe.

People owning FXB also tend to own: BHPEWMEWSFXAFXCGLDIGE

TheStreet.com Rating: No Rating What is this?

  • +
  • UUP
    Ps Db Usd Idx Bl
  • $22.83
  • -0.48%
  • $22.99

I bought the PowerShares DB US Dollar Index Bullish (UUP) on Monday, says Jeff Macke, as a dollar trade. In ag I’d wait for panic selling before getting long.

People owning UUP also tend to own: DUKEDFSLRMROSUNTVZ

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