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'Fast Money' Recap: Late on Exxon, Early on China

NEW YORK (TheStreet) -- All three major indices closed near the highs of the day on Friday.

On CNBC's "Fast Money" TV show, Guy Adami, managing director of stockmonster.com, said Exxon Mobil (XOM) could still have upside potential, but those looking to buy now are a "little late to the game."

Warren Buffett recently purchased 40 million shares of Exxon Mobil for $3.1 billion, so the price is naturally rising.

Brian Kelly, founder of Brian Kelly Capital, said WTI crude oil keeps going lower because more and more supply keeps coming online. He suggested shorting Pioneer Natural Resources (PXD).

Tim Seymour, managing partner of Triogem Asset Management, said he likes XOM and General Electric (GE).

Stuart Frankel & Company's Steve Grasso said the refinery stocks should keep benefiting if WTI crude keeps going lower, but acknowledged the stocks seem to be getting a little too extended.

Bill McDermott, co-CEO of SAP AG (SAP), was a guest on the show and said his company is very focused on China. He added that the country has a ton of potential with the cloud and in big data. McDermott said that constant innovation allows it to stay ahead of its competition and it is currently focused on growing organically, not through M&A.

Seymour said emerging markets won't be able to rally without the participation of China. He added that likes SAP, Pepsico (PEP) and Mead Johnson Nutrition (MJN).

If China continues to lessen restrictions within the country, Grasso said he likes Las Vegas Sands (LVS) and Wynn Resorts (WYNN).

Kelly said he would be a buyer of J.P. Morgan (JPM) if it can break above, and hold, $55.

Grasso said investors could keep buying the dip in shares of Pandora (P), but should use a 3% trailing stop-loss.

Adami said GameStop (GME) will likely rally into earnings but investors should sell out and possibly even get short if it can't get through $61.

U.S. Steel (X) was the first stock on the show's "Pops & Drop" segment and Grasso said he is neither a buyer or a short-seller of the stock.

Archer Daniels Midland (ADM) fell 3% and Kelly said an unfavorable EPA decision will hinder it going forward.

Zulily (ZU) cruised 71% higher and Adami said there's no reason for investors to buy the the stock.

Jos. A. Bank Clothiers (JOSB) was up 1% and Seymour said management will continue to hunt for the best way to unlock more value for shareholders.

Kelly said investors should be cautious of Japanese equities after its yields jumped so high in the overnight session. He added that he is still long the WisdomTree Japan Hedged Equity ETF (DXJ), but suggested investors be aware of the situation.

For their final trades, Seymour was a buyer of Clean Energy (CLNE) and Adami was buying Cisco Systems (CSCO). Grasso said to buy Disney (DIS) and Kelly was a buyer of iShares MSCI Mexico Capped ETF (EWW).

-- Written by Bret Kenwell in Petoskey, Mich.

Follow @BretKenwell

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Stock quotes in this article: SAP, LVS, P, JPM, XOM, GE 
Bret Kenwell currently writes, blogs and also contributes to Robert Weinstein's Weekly Options Newsletter. Focuses on short-to-intermediate-term trading opportunities that can be exposed via options. He prefers to use debit trades on momentum setups and credit trades on support/resistance setups. He also focuses on building long-term wealth by searching for consistent, quality dividend paying companies and long-term growth companies. He considers himself the surfer, not the wave, in relation to the market and himself. He has no allegiance to either the bull side or the bear side.

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