Wall Street Addict

Crude Oil: Crude oil declined 3% today as investors now fear that the global growth story might be in jeopardy. Finerman said that if you feel the US economy is going to slow down, then demand for oil will also drop. She would look to short the United States Oil Fund (USO). Adami said that shorting Exxon Mobil (XOM) ahead of earnings is a gutsy trade that could pay off big. Dylan Ratigan mentions one more way to short oil is to buy the UltraShort Oil & Gas ProShares (DUG).
Technology: Adami liked hearing that Dell (DELL) is announcing a big buyback, while the stock is at a 52 week high. Najarian says this plays well for Dell, as well as Apple (AAPL), Hewlett-Packard (HPQ) and Microsoft (MSFT). The Wall Street Journal reported that Verizon (VZ) and Google (GOOG) are discussing a mobile phone partnership.
Video Games: International Game Technology (IGT) and Electronic Arts (ERTS) are both set to report earnings this week. Macke thinks the trade is to buy Activison (ATVI), Nintendo (NTDOY) and Microsoft. Najarian noted monster options activity in the November $17.50 calls for Take-Two Interactive (TTWO). The action makes him think that TTWO is set to move higher.
Word on the Street
Procter & Gamble (PG) reports a 14% rise in profits but disappoints Wall Street on its full-year outlook. Najarian favors Colgate-Palmolive (CL) overseas.
Merrill Lynch (MER) drops after former CEO Stan O'Neal leaves. Finerman doubts the CO-CEO arrangement will work. Adami continues to like Raymond James (RJF).
Wynn Resorts (WYNN) fell in after-hours trading. Najarian would look to buy the stock on selloff. Adami would rather be long Las Vegas Sands (LVS) and Boyd Gaming (BYD).
Under Armour (UA) trades up 7% on strong earnings.
Masco also traded up 4% on strong earnings.
Pops & Drops
Pops - Goodyear Tire (GT) traded up 8%.
Colgate-Palmolive (CL) traded up 1%
Avon Products (AVP) traded up 4% on strong profits from emerging market strength. Finerman favors Estee Lauder (EL).
Sohu.com (SOHU) traded up 8% on a 47% rise in profits.
Yum! Brands (YUM) traded up 3% on no news.
AGCO (AG) popped 9%
Sepracor (SEPR) exploded up 16%
Drops- US Steel (X) fell 7% after reporting a 35% drop in profits.
WellCare Health Plans (WCG) plunged 33%
Sirius Satellite Radio (SIRI) dropped 9%
Final Trade
Macke suggests buying the pullback in Yahoo! (YHOO). He currently owns YHOO.
Adami recommends Dell.
Finerman says buy Cadbury Schweppes (CSG) for a Halloween candy trade.
Najarian favors Dick's Sporting Goods (DKS).

Labels: AAPL, ATVI, CNBC, Crude Oil, DELL, fast money, Fast Money Recap, GOOG, HPQ, MSFT, USO, VZ, XOM

Oil futures rallied to a new record over $88 a barrel Tuesday on concerns about disruptions to Middle Eastern crude supplies and a growing view that domestic supplies aren't sufficient to meet fourth-quarter demand.
Traders are concerned that a Turkish incursion into Iraq in search of Kurdish rebels could disrupt crude supplies from northern Iraq.
"Whenever there is any escalation in political tensions in the Middle East, oil markets become concerned," said David Moore, a commodity strategist at the Commonwealth Bank of Australia in Sydney. "There is production and there are pipelines that people worry may be affected if there are any issues in Iraq."
On Tuesday, Turkey's prime minister said Monday's decision to ask Parliament for permission to pursue the rebels was not a sign Turkish forces will act immediately.
The Middle East tensions add to supply concerns that have been stoked in recent days by reports from the Energy Department, the International Energy Agency and the Organization of Petroleum Exporting Countries suggesting oil supplies are flat or falling as demand is growing.
Light, sweet crude for November delivery rose $1.48 to settle at a record $87.61 a barrel. Earlier, prices rose as high as $88.20, a trading record.
Despite the gains, oil is still below inflation-adjusted highs hit in early 1980. Depending on the adjustment, a $38 barrel of oil in 1980 would be worth $96 to $101 or more today.
Many analysts argue that the supply and demand fundamentals don't support oil in the high $80 range, and believe speculative investing is the real culprit behind high oil prices. And as long as investors are willing to keep buying, prices will keep rising.
Source: John Wilen, AP Business Writer

Labels: Crude Oil, Oil Futures, Oil Prices, OPEC, USO

Crude oil and gasoline prices rose Wednesday after a government report showed gasoline inventories unexpectedly shrinking last week.
Heating oil prices also increased after a surprising decline in distillate stocks.
Light, sweet crude for August delivery on the New York Mercantile Exchange gained 31 cents to $68.08 a barrel in morning trading. The contract had fallen $1.41 on Tuesday.
Brent crude futures edged up a penny to $70.18 on London's ICE Futures exchange.
Gasoline futures rose less than a half-cent to $2.2515 a barrel.
The Energy Department reported Wednesday that gasoline inventories dropped 700,000 barrels in the week ended June 22, contrary to the 1.1 million gain that had been expected by analysts polled by Dow Jones Newswires. Total gasoline stocks are well below the lower end of average for this time of year.
Crude oil supplies rose by 1.6 million barrels to 350.9 million barrels last week, above the average estimate of a 1 million barrel increase. Inventories are well above the upper end of average.
Distillate stocks which include heating oil and diesel fuel, decreased by 2.3 million barrels and remain in the middle of average for this time of year. Analysts expected an increase of 200,000 barrels.
Refinery utilization rebounded 1.8 percentage points to 89.4 percent following a decline of 1.6 percent in the previous week. Analysts had expected a smaller gain of 0.8 percentage points to 88.4 percent.
However, the report noted that gasoline production remained nearly flat compared to the previous week.
The weekly petroleum supply snapshot has been watched closely during a spring and early summer in which an unusually high number of refinery outages have led to high oil and gasoline futures prices and record U.S. gasoline prices at the pump.
July heating oil futures on Nymex increased 1.55 cent to $2.0088 a gallon, while natural gas for July delivery inched up 0.8 cent to $6.885 per 1,000 cubic feet.
Published by AP

Labels: Gasoline, Oil, USO

Oil prices fell Tuesday amid expectations that U.S. fuel inventory data will again show a rise in crude and gasoline stocks.
A decision by Nigerian unions to call off a strike and an announcement by Royal Dutch Shell that it would resume crude exports next month from the Forcados terminal -- shut down more than a year ago due to militant attacks -- also put pressure on prices.
Light, sweet crude for August delivery on the New York Mercantile Exchange fell 49 cents to $68.69 a barrel by afternoon in Europe.
Brent crude for August delivery fell 47 cents to $70.75 a barrel on the ICE Futures exchange in London.
Despite the expected increases in supplies and refinery rates, there are lingering concerns the refining industry will not be able to produce enough gasoline to meet U.S. summer driving demand, which peaks between the July 4 holiday and Labor Day in early September.
Crude stocks are expected to have risen by 1 million barrels last week. Distillate stocks, which include heating oil and diesel fuel, are forecast to have increased by 200,000 barrels last week, the Dow Jones Newswires survey showed.
Heating oil futures for July fell by more than 2 cents to $2.0221 a gallon and natural gas prices edged upward to $6.946 per 1,000 cubic feet.

Labels: RDS-B, USO