'Fast Money' Recap: Ring the Register on Wal-Mart

Today's better-than-expected employment data and a resurgence in oil prices left the market with mixed results Friday. The Dow was up 0.4%, the S&P 500 added 0.3%, and the Nasdaq dropped 0.2%.

On CNBC's "Fast Money" TV show, Jeff Macke said that no one believed the jobs data. He said that that doesn't matter, because the week on the whole was good. He said that for the year, the market is largely flat, meaning it's a stock-picker's market.

Tim Seymour said he didn't believe this week's data were very good at all. He pointed out that the U.S. is still losing jobs, and he said expectations have been lowered. He recommended taking profits after a good week for the market.

Guy Adami said the S&P 500 has reached the 1410 level, which he says is resistance. He said bearish investors should sell here and bullish investors should buy the breakout. He recommended buying dips in stocks.

The traders observed that the market has been rallying for three straight weeks. Karen Finerman said she's not lightening up on all stocks, but she is selling out of Wal-Mart (WMT - Cramer's Take - Stockpickr) after a good run. She said the stock's valuation has moved a lot.

Microsoft (MSFT - Cramer's Take - Stockpickr) reportedly engaged Yahoo! (YHOO - Cramer's Take - Stockpickr) in talks over its hostile takeover bid today.

Macke urged Microsoft to finish the deal. He said Yahoo! should not expect Microsoft to pay $37 a share. Adami predicted Microsoft stock would go up regardless of the outcome of the negotiations. Finerman said she would buy Microsoft shares if they came down $1. She said Yahoo! is defenseless against Microsoft and doubted the stock could go up much higher than $31.