This Day On The Street
Continue to site
ADVERTISEMENT
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

'Fast Money' Recap: A Late Buying Spree Ends the Trading Week

NEW YORK (TheStreet) -- The S&P 500 seemed likely to close lower on Friday until a late buying spree pushed the index into positive territory, closing higher by 0.19%. 

On CNBC's "Fast Money" TV show, the trading panel took a look at energy stocks. 

Guy Adami, managing director of stockmonster.com, Adami said investors should buy energy stocks that have not been sold off over the past few days such as ConocoPhillips (COP) and Phillips 66 (PSX). Exxon Mobil (XOM) is a little over-extended, he added. 

Jon Najarian, co-founder of optionmonster.com and trademonster.com, is not a buyer of refining stocks, saying they could head lower by another 10%. 

Brian Kelly, founder of Brian Kelly Capital, said he would avoid refining stocks but said COP looks okay at current levels. He also likes Golar LNG Limited (GLNG)

Steve Grasso, director of institutional sales at Stuart Frankel, was also not a fan of refining stocks but likes Halliburton (HAL) and Cheniere Energy (LNG).

Karen Short, director and food retail research analyst at Deutsche Bank, was a guest on the show. She said  Amazon's (AMZN) new "Fresh" food delivery business is not being taken as a threat by traditional grocery stores. This is a mistake, she said -- a 1% volume loss can results in a 10% EBIT (earnings before interests and taxes) loss. This is a "no brainer" for Amazon, she reasoned.

Najarian said this service is simply one more way to get customers onto Amazon's platform. 

Adami said Kroger (KR) "feels like it wants to go higher." 

Grasso said investors will likely get another chance to buy shares of Amazon near $306.

Kelly said that he would take profits in Apple (AAPL) if the share price got close to $100. He said investors' expectations for the company would be very high if the stock rose to that level. Adami said Apple seems likely to hit $100.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

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
Stocks Under $10

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
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!
SYM TRADE IT LAST %CHG
AAPL $124.75 0.00%
FB $80.78 0.00%
GOOG $524.05 0.00%
TSLA $206.79 0.00%
YHOO $44.45 0.00%

Markets

DOW 17,826.30 -279.47 -1.54%
S&P 500 2,081.18 -23.81 -1.13%
NASDAQ 4,931.8150 -75.9760 -1.52%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs