Updated from 10:14 a.m. EDT
The traders of CNBC's "Fast Money" are always one step ahead of Wall Street. The crew knows how to spot market-moving news, unusual options activity or a conference event that can lead to gigantic profits. They don't call the show "Fast Money" for nothing. The crew's trading ideas can produce lighting-fast returns.
The gang recently highlighted trading opportunities that play off the American Society of Clinical Oncology meeting, a potential ethanol phase-out and stocks that will get hurt with high oil prices. Here are some highlights from over the past week as aggregated from the show.
Fast Money's ASCO Biotech Trades: The traders discussed the stocks that could present market moving data at the American Society of Clinical Oncology meeting this weekend. On Wednesday's "Fast Money" show, CNBC pharmaceuticals reporter Mike Huckman told viewers: "Look for headline-grabbing test results out of ImClone (IMCL)." Fast Money's ASCO Biotech Trades included OSI Pharmaceuticals (OSIP) and Elan (ELN).Fast Money's Biggest Losers for High Oil: Recently, crude oil surpassed $135 a barrel and the traders discussed which stocks will be the biggest losers. On last Thursday's "Fast Money" show, Pete Najarian told viewers: "The economic downturn is already hurting casinos and high oil as it relates to the airlines is going to be crippling for the industry as people rethink their summer vacations to Vegas." Fast Money's Biggest Losers for High Oil include PetroChina (PTR) and Hertz (HTZ). Fast Money's Natural Gas, Solar & Coal Winners: The traders think the uptrend in natural gas and coal stocks will continue. On Wednesday's "Fast Money" show, Pete Najarian told viewers: "Natural gas keeps working and keeps going higher." Fast Money's Natural Gas, Solar & Coal Winners include Massey Energy (MEE) and Cons Energy (CNX - Get Report).