'Fast Money' Recap: Citigroup Play - TheStreet

NEW YORK (

TheStreet

) -- The U.S. dollar moved higher Wednesday knocking down the commodity trade.

Tim Seymour said on

CNBC

's "Fast Money Halftime Report" that the demand for some of the commodities is still alive in China. He said he's a bit worry about copper, saying it would take more than just Chinese demand to move it higher.

Brian Kelly said he was shorting copper, while Joe Terranova said he was not buying copper.

Kelly said the dollar is going to get stronger, as it benefits either from an improvement in the U.S economy and G-3 countries or as the currency of choice in the event of a flight to safety.

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 onTV

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Seymour also advised buying gold with the euro currency under pressure.Gary Kaminsky, though, said he didn't think gold was a good trade and continued to warn about a weakening euro.

Melissa Lee, the moderator of the show, noted that George Soros, John Paulson and Eddie Lampert added to their holdings in

Citigroup

(C) - Get Report

in the fourth quarter. Kelly said it's a good bank, adding it's a bank that the government owns and "you are buying at a great level."

Lee noted that Citigroup is a bargin at its current price of $3.40 compared to its book value of $4.15. Kaminsky said the "whales" are looking at this as a long-term play. "If Citigroup can get its earnings power to $1 a share, it's a great buy," he said.

Kaminsky viewed the whales' play more in terms of an options trade rather than a belief in the fundamental story of the bank. Seymour warned against an options trade in Citigroup, saying it's risky.

Commenting on

Walgreen

's

(WAG)

acquisition of privately held Duane Reade, Kaminsky said the deal illustrates the slowdown in M&A activity now, with so many advisers involved in the deal.

Commenting on

Deere

's

(DE) - Get Report

strong earnings, Seymour said the side bets off the earnings report would be in the ag space in names such as

Agrium

(AGU)

,

Potash

(POT)

and

Joy Global

( JOYG).

Lee brought in Howard Lutnick, chairman and CEO of Cantor Fitzgerald, to talk about his growing business. He said the financial landscape has altered so much with the departure of Lehmans and Merrill Lynch becoming a part of

Bank of America

(BAC) - Get Report

that it has offered a huge opportunity for his firm to serve mid-capital companies, hedge funds, money managers, state and teachers retirement systems.

He said his company is building a real estate finance business and looking for quality assets for its clients.

With

Hewlett-Packard

(HPQ) - Get Report

set to report after the closing bell, Terranova said the stock is still a buy, although he feels the better bet might be in

Dell

(DELL) - Get Report

, which he thinks the market is underestimating.

Is the rise in the home building stocks for real? Bill Fleckenstein, president of Fleckenstein Capital, doesn't think so. "Trying to make money in housing is like picking up quarters on the freeway," he said.

Instead, he said his firm is trying to capitalize on the beneficiaries of money printing like gold.

With his "ear to wall," Terranova said large investment banks are playing for oil to rise to $90 a barrel.

-- Written by David Tong in San Francisco

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.

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