'Fast Money' Recap: Holding Pattern

The stock market was able to hold onto its gains from Wednesday with the Dow finishing up 22 points and the Nadsaq closing up a modest 5 points in Thursday's session. The team at CNBC's "Fast Money" tried to guess where the market's headed while also taking a look at financial stocks.

Wharton Professor Jeremy Siegel stated on CNBC that he is bullish on the stock market, because he doesn't see any competition for stocks from bonds or real estate. Siegel's comments basically don't make sense to Tim Seymour. However, Pete Najarian interpreted the comments as Siegel just saying there is no other place to put money besides stocks. Guy Adami thinks the market looks okay and Siegel is on to something.

Najarian would point investors to technology stocks like Google(GOOG Quote), Apple(AAPL Quote), Research In Motion(RIMM Quote) and Microsoft(MSFT Quote). Karen Finerman says the S&P isn't trading a rich multiple at all.

Financials in Headlines

Capital to the tune of 13.5 billion has made its way into some of the distressed financials this week. Whitney Tilson, The Value Investing Congress Chairman and manager of hedge fund T2 Partners joined the "Fast Money" crew to discuss his take on the financials. Tilson feels that Lehman Brothers(LEH Quote) is a short here. In his opinion, the firm has a lot of exposure to subprime they haven't disclosed yet. Finerman mentioned she is short Lehman Brothers and long Goldman Sachs Group(GS Quote).