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Guy Adami spoke
on CNBC's Fast Money about stocks he would trade if crude oil continues to trade lower. He said that he sees some upside potential for the S&P 500, while there is potentially more weakness for crude oil.
Adami would stay away from the big-cap names in the energy space like
Exxon Mobil CorporationXOM and
Chevron CorporationCVX, because their valuation is too high for crude oil at $38. He would be a buyer of the refiners and
JetBlue Airways CorporationJBLU.
Dan Nathan wants to trade the U.S. dollar. He thinks that there is more strength to come in the U.S. dollar, which is going to hurt crude oil.
David Seaburg believes that there is more room on the downside in
Cheniere Energy, Inc.LNG. Nathan commented that he wouldn't rush in the stock just because Carl Icahn raised his stake in the name.
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