'Fast Money' Portfolios of the Week

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By Robert Pedone

PEWAUKEE, Wis. (TheStreet) -- The traders of CNBC's "Fast Money" continue to be surprised by the strength in the stock market. On Monday's "Fast Money" show, Joe Terranova said he's seeing maximum frustration in the markets. He thinks investors are confused and don't know if they should stay in or get out of stocks.

Guy Adami reminded viewers he has been waiting for stocks to pull back, which just hasn't happened. He mentioned that he's still bearish and that the recent pickup in M&A activity could be signaling a top for the markets.

Dennis Gartman, author of The Gartman Letter, said the market has been trading on very low volume. He suggested this type of action is usually a bearish sign when you have volume failing to follow trend.

Jon Najarian pointed out that options activity suggests to him that investors aren't concerned. He said it seems like there's cautious optimism in the market.

Steve Grasso questioned if the rally is for real or simply just window dressing before the quarter's end. He cautioned viewers to stay on the sidelines for October but said he sees a big up move for November and December.

The crew has recently highlighted trading ideas that play off of end-of-quarter window dressing, biotech takeover plays and stocks with unusual options activity. Here are some highlights from over the past week as aggregated from the show.

Fast Money's Window Dressing Trades: The end of the quarter on Wednesday could spark increased volatility as portfolio managers sell the losers and buy the winners in an effort to dress up their portfolios. On Monday's "Fast Money" show, Joe Terranvoa told viewers: "I think the one mistake on this list is Exxon(XOM Quote). As far as I'm concerned, they have the best balance sheet in the world. And if you think the demand for energy will increase long-term, I'd be a buyer of this dip." The Fast Money's Window Dressing Trades portfolio includes Apple(AAPL Quote) and Goldman Sachs Group(GS Quote).