Fast Money Update - In Line With Market In play - GLD, CMP, OXY, BAC, BHP

Published on Tuesday, 24 August 2010 12:51 Written by Danny Miller

New York, August 24th (TradersHuddle.com) - Currently the Fast Money trades are performing with the S&P 500 that is trading significantly lower, as investors digest wary economic data.

Brian Kelly recommended to get long gold via the GLD (NYSE:GLD), as he believed that inflation will become a reality. Today the GLD is the best performer among the Fast Money Final trade recommendations, with the stock trading at $120.24 representing 0.38%versus the previous trading session, this despite the lower open. Shares of the Spider Gold Trust or GLD the have defined support at $116.1 and resistance at $120.99.

Karen Finerman suggested long Compass Minerals (NYSE:CMP), and today is trading at $72.66 representing -0.36% from its previous close. Compass Materials has calculated support and resistance levels at $70.16 and $75.27 respectively.

Joe Terranova suggested long Occidental Petroleum (NYSE:OXY). Occidental Petroleum, is trading at $74.6 or -1.28% from the previous close. Shares of Occidental Petroleum, the crude oil and natural gas producer based in Los Angeles, CA have defined support at $73.9 and resistance at $80.89.

Tim Seymour suggested to follow Brian Moynihan CEO of Bank of America (NYSE:BAC) on its 30,000 share purchase. Bank of America is trading lower today at $12.7 representing -1.32% from its previous close. The worst performer of the recommendations made is BHP Biilliton (NYSE:BHP) recommended by Steve Cortes, which is trading at $65.77 or -1.36% below Monday's close.