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CNBC's "Fast Money"

Fast Money - 05/05/21

CNBC's "Fast Money"

CNBC

Business, Investing, News

3.91.3K Ratings

🗓️ 5 May 2021

⏱️ 44 minutes

🧾️ Download transcript

Summary

Listen to our traders take you behind the money...how to play the volatility...pops and drops and the movers you missed. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

Transcript

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0:00.0

I'm Melissa Lee and this is Fast Money Tonight's Trader Line of Care and

0:04.8

Pioneer and Tim Seymour, Dan Athon and Nadine Termin. Tonight on Fast we're

0:08.2

tracking the after-resaction shares of Uber that stock turning lower as the

0:11.4

earnings call that underway will tell you what is being said about this quarter

0:14.7

plus a vaccine smackdown. The COVID vaccine maker's taking a big hit as the

0:19.4

White House says it supports waving patent protections will dive into the

0:23.5

fallout and later Peloton plunges the stock dropping 14.5% today as the

0:29.1

company recalls all of its treadmills Peloton reports earnings tomorrow morning.

0:32.8

We've got your setup. But first we start with a big breakout and big energy.

0:36.9

Check out the XLE Energy ETF rallying more than 3% today. It is now up more than

0:41.6

6.5% over the past month. Tom Lee was on our show last night pounding the

0:46.9

table on the sector. I think the entire energy complex is a buy just OAH for

0:53.4

instance could almost triple up to 250% and a move to oil that is really in line

0:59.6

with the Goldman Target of $80 oil. So I think energy is really one of the best

1:03.4

risk rewards right now. And it is the ultimate reopening trade. Do you bet big on oil here, Tim?

1:10.8

I do. I have and I will continue to. I mentioned last night after Tom's comment. So my basket would

1:17.7

be Slumberjee, EOG and Chevron. So first on Slumberjee who just reported two weeks ago roughly

1:25.2

said that they're seeing their international business begin to inflect higher. That means also

1:29.6

pricing. The fact that these guys are continuing to balance kind of innovation and technology

1:35.2

in the sector. The last time Brent closed above $68 pre-COVID, Slumberjee was a $39.40 stock.

1:42.8

So the conditions are significantly better and the outlook for their core business now before

1:50.1

they were in February of 2020. EOG, which is maybe one of the best kind of long-term balanced upstream

...

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