This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

'Fast Money' Recap: Commodities Comeback

Stocks in this article: CVR BX KKR JPM MS YNDX AMRN

NEW YORK ( TheStreet) -- The markets fell again Tuesday despite a comeback in commodities.

The Dow Jones Industrial Average fell 25.05, or 0.20%, to 12,356.21. The S&P 500 dropped 1.09, or 0.08%, to 13216.28. The Nasdaq slipped 12.74, or 0.46%, to 2746.16.

Brian Kelly on CNBC's "Fast Money" TV show that silver led the commodities with a strong move higher.

Guy Adami said Goldman was spot on in its bullish call on a number of commodities. Tim Seymour said there would have been a further market decline if Goldman and Morgan Stanley had not upgraded commodities and gold. Seymour said the S&P was still in "no-man's land" with 1295 serving as the test for the index.

For a breakout of some stocks from a recent "Fast Money" TV show, check out Dan Fitzpatrick's "3 Stocks I Saw on TV."

3 Stocks I Saw on TV

Joe Terranova said Goldman's call was essentially a reversal of its call on April 12. However, he sees a slowdown in oil, noting oil could drop $3 to $5 a barrel easily. He said going with that selling pressure would be the wrong trade. Rather, he said he still believes in energy, with CVR Energy (CVI) as a point of reference.

Zachary Karabell said the demand for copper is quite real. He said China's has been destocking copper for many months and its inventories are at a two-year low.

Melissa Lee, the moderator of the show, asked the panel for derivative trades off the commodity trade. Brian Kelly said he would look beyond the airlines to hotels and car rental companies.

Turning to the financials, Lee referred to Federal Reserve Bank of Kansas City Bank president Thomas Hoenig's comments that banks should stick to deposits and loans if the financial system is to avert its near disasterous plunge in 2008.

Terranova said financial names like Blackstone (BX) and KKR (KKR) should fare well under that framework. Kelly said he liked the prospects of JPMorgan (JPM) and Morgan Stanley (MS) if the Fed decides to help increase loan demand by increasing liquidity.

Seymour said he still liked Goldman Sachs (GS) despite its regulatory problems. Adami said he didn't like the price action in Goldman and sees it headed down further.

Lee noted that the price of Brent oil climbed today on a Goldman Sachs call that oil will hit $130 a barrel by year's end. Daniel Dicker, a senior columnist for TheStreet, said the call, which amounted to a reversal of Goldman's position six weeks earlier, was "weird" in its logic. He said the Goldman's rationale for the call for the earlier correction in oil had little to do with what really caused oil prices to fall.

1 of 3

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,804.80 +26.65 0.15%
S&P 500 2,070.65 +9.42 0.46%
NASDAQ 4,765.38 +16.9840 0.36%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs