'Fast Money' Recap: Beyond Stocks

NEW YORK (TheStreet) -- The markets ended flat Wednesday on light volume.

The Dow Jones Industrial Average was up 3.10, or 0.03%, to 10,548.51, while the S&P 500 rose 0.23, or 0.02%, to 1,126.42. The Nasdaq added 2.28, or 0.13%, to 2,291.28.

Bob Pisani, the moderator of CNBC's "Fast Money" TV show, continued the theme of alternative investments to stocks and Treasuries.

Brian Kelly said he's long on Proshares Ultrashort 20-year Treasury ETF(TBT). He said the theory behind that move is based on his belief that interest rates are heading higher.

For a breakout of some stocks from a recent "Fast Money" TV show, check out Dan Fitzpatrick's "3 Stocks I Saw on TV."

3 Stocks I Saw on TV

Steve Cortes, taking the opposite view, said that any Fed moves to tighten money supply would help longer-term Treasuries. He also said Treasuries remain a valuable asset for investors.

Joe Terranova said there's no better place to be than in the stock market. He said there will be a "seamless" transition from 2009 to 2010, with investors sticking to the "comfort assets" they relied on this year. "There is no reason to jump off this boat."

Pete Najarian agreed, saying technology and energy names will continue their run.

But Pisani suggested it might be a safer, less risky move to invest in a corporate bond fund like iShares Barclays 1-3 years(CSJ) with a 3 percent yield.

Najarian said a better alternative to that approach would be get into stocks in the pharmaceutical and utilities sectors that pay attractive dividends.