Fast Money Recap June 14

• Very strong market for past couple of days
• But this is still volatile market
• 89% refining capacity instead of 93-94% which pushed the whole refining industry up along with the whole oil sector
• Three great west coast refiners: CVX, TSO, FTO
• GS down on earnings, the expectations were too high but it the numbers were not unbelievable, EB suggested that last year the stock sold off for 3 days after earnings then went higher and stayed
• Russia, South America, China up across the board around 3%
  
• Russia has been lagging emerging markets, best credit story, growing 6-7% yearly for last 5 and will for next 5 years, political risk may have reduced in G8
• Great time to buy: oil & gas sectors - OGZPY
• Also South Korea: PKX
• Stay long energy, metals, miners
• ICE is either going to be a target after CME-BOT merger, or they will buy somebody else
• Aggressive options activity in ACF for July and August 30 calls
  
• Ag play: MON, AGU, DE, BG, DBA (commodity fund)
• NOK 50% ahead of MOT in emerging markets, is an industry leader
• There is a sea change in phone prices with iPhone at $499 and NOK N95 at $795, RIMM is a definite beneficiary of this change which offers added services
• Shutterfly (SFLY) - service for sharing photos, might be take over candidate
• Baby boomers cruising big time but due to fuel costs cruise companies are not worth buying right now
• Instead stick with SSW, TK, DRYS
• Final trade: COP, TYC, SFLY, NMX