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Today is the day that many commodity traders have been waiting for all week, and it should result in the biggest price change for the week as well. We are looking for the moves to be in gold, oil and copper today, up or down depending upon what is said. Bernanke should know that the market is demanding that the Fed be dovish, and we have no doubt that they will be however the key will be exactly how dovish they will be.

It is all about the Fed and QE3 today ... and we are giving you six stocks instead of the normal five!

Oil & Natural Gas

And with that said, we want to highlight the two names we think would be the best trading vehicles in the oil and natural gas area for traders. Both SandRidge Energy (NYSE:SD) and Kodiak Oil & Gas (NYSE:KOG) are favorites of day traders, as they provide plenty of liquidity and attract a lot of attention. Out of the two we would prefer Kodiak as you can play it both ways fairly safely we feel as it is at a crossroads. It has been stuck at this resistance level and cannot seem to break higher or lower right now, so this very well could be the news that investors have been waiting for to take action.

Coal

Many of our readers have taken a liking to coal at these levels for long-term trading, and we understand that but have yet to take action ourselves. This morning it is important to note that some of these plays are very close to testing their 52-week lows once again and today's news could very well send them down to those levels. Alpha Natural Resources (NYSE:ANR) is one of those plays after it fell another $0.20 (3.26%) to close at $5.94/share yesterday. It could very well be a trade for those who are far braver than us, but is sure looks like this one would be headed lower after any bounce higher assuming no QE3.

Rare Earths

Molycorp (NYSE:MCP) corrected much like we had expected, but we would still like to caution investors and our readers particularly about this one. It would appear to us that a short covering probably took place on top of the news which the company released earlier this week. It is our opinion that if you must own the shares that a better entry point will present itself as we think that this one is headed to $10/share before it goes to the $15/share level. That is how we would play it if it were our money.

Copper/Gold

Freeport-McMoRan (NYSE:FCX) is one of the better plays today either way the news goes, but especially so if we get extremely dovish indications. The company is mostly copper focused, but has a nice gold kicker which would help dramatically in an environment where money gets cheaper and the economy takes a while to react to the cheapness. There are a lot of questions lingering for the company long-term, so that is why we recommend this only as a trade and not as an investment. Being conservative here would be wise.

Solar

This has absolutely nothing to do with Bernanke but everything to do with our desire to guide readers to good plays. Sometimes that requires that we guide them away from questionable areas and that has long been our view on solar, which we have been right to have. First Solar (NASDAQ:FSLR) saw shares fall $4.53 (18.71%) to close at $19.67/share yesterday on extremely high volume of 25.1 million shares. We have generally stopped watching the news on these and simply watched the tape and for far too long it has shown red, so today we want to reiterate our bearishness on solar stocks and deplore readers to stay far, far away from these plays. There are far better areas in the market to be investing in, and we want to redirect that capital to those sectors.

Source: 6 Commodity Stocks Moving On News