Is the Commodities Bubble Popping?- Fast Money Recap (4/29/08)

Recap of CNBC's Fast Money, Tuesday April 29. Click on a stock ticker for more analysis.


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ConcoPhillips (COP), Potash (POT), Wal-Mart (WMT)

Jeff Macke discussed oil’s 2% slide downward and thinks gold is a better short than oil, which hasn’t yet topped. Karen Finerman thinks the dollar has yet to hit bottom, and says the Fed should not cut rates.. Pete Najarian said investors are leaving oil, metals and agriculture behind after they have had amazing runs. He discussed POT’s and COP’s numbers and thinks investors should be willing to take some off the top, but with oil at $110, commodities might have further to go. Karen Finerman thinks agriculture stocks could be hurt by a backlash against ethanol, but Najarian thinks the agriculture bull market is fueled more by the rising demand for food than by ethanol. He thinks POT dipped only because of an analyst’s prediction and is not lowering his $300 target for Potash. Macke said while ethanol might not be the catalyst for the agriculture bull market, the bubble will burst eventually and ethanol may have a role to play. He noted record performance for WMT and thinks the stimulus checks will help the consumer.

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