Dell Rescues Tech - Fast Money Recap (5/30/08)

Recap of CNBC's Fast Money, Friday May 30.


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Is Oil Spoiled? Baker Hughes (BHI), Transocean (RIG)

Oil fell nearly 4% last week to $127. The group wondered if oil’s rally is finally over and if the commodity could drop to $120 in the coming week. Guy Adami thinks next week will be the biggest week for commodities in years and expects a significant drop in crude and gold. However, he doesn’t think stocks will necessarily rise on oil’s fall. Macke doesn’t believe oil will necessarily go lower, but action in the commodity will be significant. He adds he is a seller of the S&P with a tight stop above 1410. Najarian says oil service stocks are not dependent on price, since more oil needs to be produced. He is bullish on BHI and RIG. He notes solar stocks are rallying because the Germans are not cutting aid to solar as much as expected.