NEW YORK (TheStreet) -- The S&P 500 enjoyed its best August performance in 14 years as the index climbed 0.33% on the final trading day of the month. 

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. 

Brown said the SPDR S&P Retail ETF (XRT - Get Report) "is on the verge of a breakout" and has done pretty well over the past few weeks.  

Kelly said investors should watch for natural gas to start rallying heading into the fall and winter. He likes Chesapeake Energy (CHK - Get Report) . 

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. 

If investors are interested in drone technology, they can buy shares of AeroVironment (AVAV - Get Report) , Kelly said. 

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. 

Brown says Apple (AAPL) still trades with a reasonable valuation and returns a lot of cash to its shareholders. He likes the stock. 

Kelly said investors who want play the online and mobile payments space can look at bitcoin, NXP Semiconductors (NXPI - Get Report) and SVB Financial Group (SIVB - Get Report) . 

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. 

Big Lots (BIG - Get Report) fell 2%. Brown said he would avoid the stock at current levels but is a buyer near $40. 

Rocket Fuel (FUEL) popped 4%. Kelly called it "a lottery ticket" based on buyout possibilities. 

Splunk (SPLK - Get Report) jumped 19%. Adami said the company had a good earnings report but investors should take profits. 

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.

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Bret Kenwell currently writes, blogs and also contributes to Robert Weinstein's Weekly Options Newsletter.