Fast Money Recap: Weak Dollar, Strong Crude

The "Fast Money" team comments on the weak dollar and possible trades.
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Yes, the dollar's plummeting -- but how can you make a buck off it? The crew at CNBC's "Fast Money" discussed that issue on Thursday's show.

Pete Najarian regards the weak dollar as being bullish for technology stocks, which will benefit off of global growth. Karen Finerman was out buying S&P 500 and Russell put options to hedge her portfolio.

Oil was also in the news again, as it traded above $83 for the fourth record close in a row. Finerman suggests buying

ConocoPhillips

(COP) - Get Report

. However, Najarian sees oil service stocks like

Baker-Hughes

(BHI)

,

Halliburton

(HAL) - Get Report

and

Schlumberger

(SLB) - Get Report

as the place to buy. (

RealMoney

Take: Mark Manning said recently, "I believe Baker Hughes, Schlumberger, Halliburton and the Oil Service HOLDRs offer the opportunity for upside (and for placing smart sell stops)." To read more on what Manning said,

click here.)

Word on the Street

Goldman Sachs

(GS) - Get Report

reported record numbers on Thursday. Najarian would sell GS on the news. (

RealMoney

Take: Rev Shark said recently, "The inability of Goldman Sachs to trade up on an excellent quarter tells us that there is still plenty of folks looking for another shoe to drop." To read more on what Rev Shark said,

click here.)

FedEx

(FDX) - Get Report

reported a 4% rise in profits, but cut forecasts. The stock traded lower on the news. In Jeff Macke's opinion, FedEx's problems are company-specific. He also reminded investors to never own a stock where the CEO blames the economy on a bad quarter, which FedEx did.

FedEx isn't at levels that Guy Adami would be a buyer, but it is getting close. (

RealMoney

Take: Steven Smith said recently, "On the earnings front, FedEx is falling after warning of lower-than-expected revenue causing above-average option activity and an increase in implied volatility." To read more on what Smith said,

click here.)

Oracle

(ORCL) - Get Report

traded up after hours on strong earnings and revenue. Macke believes Oracle is a very good company hitting on all cylinders. Adami and Najarian like the acquisitions that Oracle has made recently.

Unusual options activity was present in

Cree

(CREE) - Get Report

and

Brightpoint

(CELL)

on Thursday. Najarian saw huge monster volume on the CREE September $35 calls and the CELL April $20 calls. (

RealMoney

Take: Dan Fitzpatrick said recently, "While CREE is due for a rest, there just might be too much buying pressure to let the bears out of a trade gone badly." To read more on what Fitzpatrick said,

click here.)

Welcome Sports Fans

Nike

(NKE) - Get Report

reported bullish earnings and revenues after the close on Thursday. Finerman believes the news gives a buy signal for

Brown Shoe

(BWS)

, which sells a lot of Nike shoes. Macke disagreed. He thinks what is good for Nike is good for Nike only.

Najarian thinks investors should watch

Under Armour

(UA) - Get Report

. If UA is doing well, then Nike will do well. Adami noted that Nike is winning in Europe and Asia and that makes the stock a great play on global growth and a weak dollar. (

RealMoney

Take: Vasu Vijayraghavan said recently, "Nike's balance sheet looks acceptable; cash increased by 24%, while the debt-to-equity ratio remained low at 5.8%. Nike needs to play down and maneuver around growing antagonism to China to keep profits consistent in the future." To read more on what Vijayraghavan said,

click here.)

PC Growth?

Morgan Stanley raised PC growth forecasts by 4%. Can investors get in PC stocks now and profit?

CNBC

Silicon Valley Bureau Chief Jim Goldman joined the crew to discuss his take on the Morgan report and what the impact could be for technology stocks.

Goldman sees the Morgan report as adding momentum to technology stocks and this in turn will be bullish for

Dell

(DELL) - Get Report

,

Hewlett-Packard

(HPQ) - Get Report

,

Apple

(AAPL) - Get Report

,

Intel

(INTC) - Get Report

and

AMD

(AMD) - Get Report

.

Stem Cell Play

Could stem cell stocks be ready to move in front of next week's biotech conference? Najarian says the pure play in the stem cell space is

Geron

(GERN) - Get Report

. For more solid big caps with stem cell exposure look at

Celgene

(CELG) - Get Report

,

Amgen

(AMGN) - Get Report

and

AstraZeneca

(AZN) - Get Report

. (

RealMoney

Take: Jim Cramer said recently, "How about how Celgene withstood the Revlimid onslaught? Adam Feuerstein was so right" To read more on what Cramer said,

click here.)

Dubai Power Move

Dubai announced on Thursday a 20% stake in both the NASDAQ and London Stock Exchange. Higher oil prices have left the Gulf state flush with cash. Can investors anticipate where the money will be spent?

Macke says look at

Tiffany's

(TIF) - Get Report

and

Saks

(SKS)

and get ahead of the possibility of Dubai taking a stake in these firms. Adami concludes that the way to play Dubai is with buying infrastructure stocks like

Fluor

(FLR) - Get Report

and

McDermott

(MDR) - Get Report

.

On the other hand, Finerman would play the exchange names like

NASDAQ

I:IXIC

,

NYMEX

(NMX)

, and

NYSE

(NYX)

.

Pops & Drops

Pops-

Athenahealth

(ATHN) - Get Report

soared 99% on the firm's first day of trading. Najarian likes that ATNH has Jonathan Bush, first cousin of George W. Bush, as a co-founder.

Monolithic Power Systems

(MPWR) - Get Report

traded up 15% after an analyst raised their price target. Najarian declares this a big day for MPWR.

Carnival Cruise

(CCL) - Get Report

traded up 3% on a rise in profits.

Motorola

(MOT)

popped 3% on bullish analyst comments. Macke suggests that this is a good opportunity to sell.

Drops-

CKE Restaurants

(CKR)

fell 6% on a drop in profits of 34%. A better choice in Finerman's mind is

Yum Brands

(YUM) - Get Report

or

McDonald's

(MCD) - Get Report

.

Pier One Imports

(PIR) - Get Report

fell 5% after disappointing Wall Street expectations. Macke states that this is a strong contender for worst company in the world.

Lowe's

(LOW) - Get Report

fell 3%. Finerman reiterated her bullish take on competitor

Home Depot

(HD) - Get Report

.

Infosys

(INFY) - Get Report

fell 5%. Adami thinks INFY is in a bad spot because the rupee is at 9-year highs.

Pacific Ethanol

(PEIX) - Get Report

fell 8% on an analyst downgrade. Najarian mantains that PEIX is a "bunch of junk" and advises going solar.

Face2Face

The "Fast Money" team entertains questions from their listeners.

Gayla from California writes, "Lee Raymond, the former CEO of

Exxon Mobil

(XOM) - Get Report

has said that the price of oil shouldn't be $80 per barrel. He's said there is no reason for it and that the fundamentals just aren't there to support this price. This leads me to think that oil is being artificially inflated. Are oil futures traders to blame? Could this same scenario be unfolding in other commodities like wheat? If so, perhaps there is no "real" inflation at all." Finerman disagrees with the idea that speculators can control prices in the longer term.

Mark from Massachusetts writes, "I know some of the traders have liked

EMC Corp

(EMC)

in the past. Why hasn't EMC broken out of its current trading range, while

VMware

(VMW) - Get Report

continues to soar? Has Wall Street ignored the fact that EMC still controls about 85% of VMW?" Adami recalls that traders sold EMC to buy VMW, but those traders will be coming back to EMC. He expects EMC to go over $20. (

RealMoney

Take: Dan Fitzpatrick said recently, "We could easily see a retest of $17.50 for EMC. I'm waiting for the stock to move above $20 before buying." To read more on what Fitzpatrick said,

click here.)

Final Trade

  • Macke is adding more to his position in Activision (ATVI) - Get Report.
  • Adami recommends buying Oracle (ORCL) - Get Report as long as it stays above $20.50.
  • Finerman is sticking with going long on BEA Systems (BEAS) .
  • Najarian tells investors to buy Sohu.com (SOHU) - Get Report. (RealMoney Take: Dan Fitzpatrick said recently, "I'd keep a tight stop on this trade in Sohu.com, and certainly would be a seller on a pullback below $35." To read more on what Fitzpatrick said, click here.)

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