Brian Kelly thinks traders could look at Tesoro ( TSO) on the long side, despite the stock falling 4% for the week.

Icahn raised his 8.98% stake in Chesapeake Energy ( CHK) to 9.98%, and Kelly said it appears natural gas has bottomed. If natural starts being used more in transportation, this is a place to be, he said.

For their final trades, Grasso was a buyer of Cree ( CREE) and Brown suggested holding cash and waiting for a better buying opportunity. Nathan said to sell Zillow ( Z) and Kelly said to take profits in the ProShares UltraShort 20+ Year Treasury ETF ( TBT).

-- Written by Bret Kenwell in Petoskey, Mich.

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Bret Kenwell currently writes, blogs and also contributes to Robert Weinstein's Weekly Options Newsletter. Focuses on short-to-intermediate-term trading opportunities that can be exposed via options. He prefers to use debit trades on momentum setups and credit trades on support/resistance setups. He also focuses on building long-term wealth by searching for consistent, quality dividend paying companies and long-term growth companies. He considers himself the surfer, not the wave, in relation to the market and himself. He has no allegiance to either the bull side or the bear side.

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