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CNBC's "Fast Money"

Believe the Big Oil Breakout? And Your 2021 Tech Strategy Session

CNBC's "Fast Money"

CNBC

Business, Investing, News

4.31.2K Ratings

🗓️ 5 January 2021

⏱️ 44 minutes

🧾️ Download transcript

Summary

Oil prices surged to their highest level in nearly a year, with energy stocks going along for the ride. But the Chart Master says it’s time to sell the oil rally. Plus we lay out your tech sector playbook with Jefferies Jared Weisfeld.

Transcript

Click on a timestamp to play from that location

0:00.0

I'm Melissa Lee and this is Fast Money.

0:03.5

Tonight's trader line up, Guy Domi, Tim Seymour, Karen Fireman, and Dan Nathan

0:06.8

and tonight on Fast, the traders have Georgia on their minds.

0:09.8

Polls closing in less than two hours from now and two key Senate runoff

0:13.5

will break down what's at stake for your money straight ahead. Plus the auto

0:16.9

stocks kicking into high gear will tell you what sent these names into

0:20.3

overdrive. How our traders are trading it later tastes like profits.

0:24.0

The McDonald's tripling down in the fast food chicken wars, but our investors

0:28.0

loving it. We're digging in straight ahead, but we start off with a big breakout in big energy.

0:32.8

Crude oil surging 5% closing above 50 bucks a barrel for the first time since last February.

0:38.6

The move driven by Saudi Arabia shocking the market by unexpectedly cutting production.

0:43.0

Energy stocks rallying along with the commodity,

0:45.0

the XLE ETF posting its best day in more than a month

0:49.0

for the Chartmaster says,

0:51.0

beware of this big breakout.

0:52.0

Crude realities are about to set in.

0:54.0

We want to go straight to the Chart Master Cornerstone

0:57.0

Mount Rose Carter Worth.

0:58.0

Carter, happy New Year.

1:00.0

Happy New Year, Melissa.

1:02.0

Thank you. Well, just three charts. The first, take a look. I've drawn one line here and what we would characterize this as is a rally to a difficult level, meaning with today's strength, just slightly over 50,

1:15.5

before backing away, W.T.I. undid all of its weakness associated with the pandemic,

...

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