On CNBC's "Fast Money" TV show, the trading panel took a look at oil prices.
Brian Kelly, founder of Brian Kelly Capital, said everyone seems to think WTI crude oil is going to $85 per barrel. He does not agree and thinks it is near the "trough" now.
Josh Brown, CEO and co-founder of Ritholtz Wealth Management, said it "wouldn't be a negative" for crude prices to stay near current levels. He likes the iShares U.S. Oil & Gas Exploration & Production ETF (IEO) - Get Report and Apache (APA) - Get Report .
Steve Grasso, director of institutional sales at Stuart Frankel, said support for WTI crude oil is near $92. If the S&P 500 is going to rally into the end of the year, which it seems poised to do, oil prices will likely rally with it.
Guy Adami, managing director of stockmonster.com, said lower oil prices may help out retail stocks. Specifically, he likes Macy's (M) - Get Report , Kohl's Corp. (KSS) - Get Report and Gap (GPS) - Get Report .
Grasso added that retail stocks will have easy comparable-store sales figures to beat this fall after last year's poor outing due to the government shutdown.
James Temple, senior editor at Re/Code, was a guest on the show. On Amazon (AMZN) - Get Report and Google's (GOOGL) - Get Report (GOOG) - Get Report attempt to develop delivery drones, he said the companies are "trying to reinvent the way that distribution happens." This task will include a lot of regulatory and technological hurdles, but could be a very attractive and effective service that hurts traditional brick-and-mortar retailers.
Grasso said the next catalyst for Tesla Motors (TSLA) - Get Report is China, where the company recently announced plans to build 400 new charging stations; $268 needs to act as support for the stock, he added.
Kelly said investors should be careful when Tesla's stock starts to suddenly spike higher because that's when it tends to decline quickly, such as in February.
Adami said investors should not sell short GT Advanced Technologies (GTAT) due to its high short interest. However, they can buy the stock on a pullback near $14. For investors who are already long, consider taking profits on a break below $17.
Orbitz Worldwide (OWW) climbed 3% and was the first stock on the show's "Pops & Drops" segment. Grasso said the stock is a buy.
Rocket Fuel (FUEL) popped 4%. Kelly called it "a lottery ticket" based on buyout possibilities.
For their final trades, Grasso is a buyer of VeriFone Systems (PAY) and Kelly is a buyer of SVB Financial Group. Adami is buying Palo Alto Networks (PANW) - Get Report and Brown is a buyer of the iShares U.S. Oil & Gas Exploration & Production ETF.
-- Written by Bret Kenwell in Petoskey, Mich.
Bret Kenwell currently writes, blogs and also contributes to Robert Weinstein's Weekly Options Newsletter.