NEW YORK (TheStreet) -- Heading into Thanksgiving Day, all eyes are on the turkey feast -- unless you're an oil trader. OPEC will hold its meeting on Thursday, deciding whether to cut production to boost oil prices. On Wednesday, crude oil fell 0.82% in anticipation there will be no production cut. 

"I don't think there will be a cut," Brian Kelly, founder of Brian Kelly Capital, said on CNBC's "Fast Money." He is short the Energy Select Sector SPDR ETF (XLE) - Get Report and the SPDR Oil & Gas Exploration & Production ETF (XOP) - Get Report , with expectations for West Texas Intermediate to decline to $70 per barrel. 

Tim Seymour, managing partner of Triogem Asset Management, disagreed. The recent decline is a short-term buying opportunity because the energy sector is oversold. He is a buyer of the Market Vectors Oil Services ETF (OIH) - Get Report .

Oil producers will be in trouble if OPEC does cut production and crude prices continue to fall in response, according to Jon Najarian, co-founder of optionmonster.com and trademonster.com.

The energy companies with strong balance sheets should be able to weather lower oil prices, said Guy Adami, managing director of stockmonster.com. It's impressive that the S&P 500 continues to make new all-time highs given the continued selling pressure in oil. 

If OPEC cuts production by 500,000 barrels, it will temporarily boost oil prices, said Andy Lipow, president of Lipow Oil Associates. But if that's the announcement released on Thursday, investors should sell oil, which he agreed is likely headed to $70 per barrel. He likes transport stocks including FedEx (FDX) - Get Report , United Parcel Service (UPS) - Get Report and J.B. Hunt Transport Services (JBHT) - Get Report  as well as the airline stocks. 

Shares of Seadrill (SDRL) - Get Report slid some 23% after the company suspended its dividend. However, Adami says investors can buy the stock given its low forward valuation. He also likes JetBlue Airways (JBLU) - Get Report , which still has upside.

David Strasser, managing director and retail analyst at Janney Capital Markets, continues to like Best Buy (BBY) - Get Report and has a $43 price target on the stock. The company will benefit from the TV upgrade cycle by having the new 4K TVs available. The stock trades at five times earnings before interest, taxes, depreciation and amortization, whereas most leading retail stocks trade at 10 times Ebitda, he said. 

Best Buy's valuation is getting "stretched" and the stock is coming into previous resistance, Seymour pointed out. Kelly reasoned that if he was looking to buy a stock for the next 30 days he would buy GoPro (GPRO) - Get Report over Best Buy. 

Adami added that GoPro will likely trade higher through the holidays and could possibly get back to $90 per share. Najarian said he would rather own Ambarella (AMBA) - Get Report over GoPro. Ambarella supplies parts for GoPro. 

The conversation shifted to gold and the Nov. 30 vote in Switzerland on whether the Swiss National Bank should boost its gold holdings. The bank would have five years to buy more gold if the measure passes, according to Axel Merk, founder, president and CIO of Merk Investments. However, the populace seems to be leaning towards voting no, he said. 

Gold has traded terribly for the past 18 months, Seymour said. However, that trend is unlikely to change any time soon, especially with U.S. dollar moving higher. The yellow metal is headed to $1,100, he said.

Kelly is a buyer of the Market Vectors Gold Miners ETF (GDX) - Get Report

For their final trades, Seymour is buying Halliburton (HAL) - Get Report and Najarian is a buyer of put options on the XLE ETF. Kelly said to buy Silver Wheaton (SLW) and Adami is buying Pilgrim's Pride (PPC) - Get Report .

-- Written by Bret Kenwell

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