'Fast Money' Recap: Bush Bail Out

The stock market exploded higher Thursday as investors cheered President Bush's mortgage plan that could help bail out many subprime borrowers. The Dow finished up 174 points and the Nasdaq closed up 42 points. The team at CNBC's "Fast Money" reviewed critical levels in the market as well as the tech stocks and the global outlook.

Pete Najarian explained that everything was working Thursday from the agriculture sector, financials, metals, energy and technology. The question now for Najarian is will this broad based rally continue? Jeff Macke thinks that now is the time to buy stocks after the S&P 500 broke key resistance at 1490. Macke explained that 1490 is now support and the market can trade higher as long as it stays above that ever important level.

Tech Time

Tim Seymour remarked that a lot of volatility has been taken out of the market and that is good for riskier assets. Guy Adami likes big-cap technology stocks like Microsoft(MSFT Quote) and Intel(INTC Quote).

Tech Time

Apple(AAPL Quote) traded up 2.4% after rumors hit Wall Street that Apple will introduce a ultra portable laptop computer at Macworld next month. Also, Apple announced it will be releasing a 3G version of the iPhone in 2008. Najarian thinks the street is getting overly bullish on Apple and he sold some of his Apple options into strength Thursday.