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NEW YORK (
TheStreet) -- The markets closed mixed Thursday as the tax cut deal ran into strong opposition from House Democrats.
Dow Jones Industrial Average dropped 2.42, or 0.02%, to 11, 370.06 while the
S&P 500 added 4.72, or 0.38%, to 1,233.00. The
Nasdaq gained 7.51, or 0.29%, to 2,616.67.
Guy Adami said on
CNBC's "Fast Money" TV show that he was cautious about today's action, adding 1,220 appears to be the support level.
With volatility low, Finerman said investors should be buying protection. Brian Kelly said the market held on despite worrisome overseas news.
Karen Finerman that she was happy to see the return of the financials to a position of strength. She said she was starting to see real value in these stocks. She said good economic activity will translate into loan and earnings growth for the banks.
Stephen Weiss said the yield curve is benefiting the banks and providing strength to the sector, but Adami was reticent about applying a buy-hold strategy to the sector, arguing there are still headline risks.
Brian Kelly, though, dismissed the idea of headline risks, saying the financials should benefit from an improving economy.
In the ear to the wall segment, the panel discussed the 11% spike in
Eastman Kodak(EK) on takeover rumors. Najarian noted the strong options activity in the stock, while Adami said there was a 30% short interest in the stock. Adami said he was hard pressed to get into the stock.
With cotton and lumber surging today, Kelly said the way he would play it would be in
Monsanto(MON - Get Report),
Plumb Creek Timber(PCL - Get Report) and
Rayonier(RYN - Get Report).
In the trading the globe segment, the panel discussed the rise in auto sales, with China reporting a 27% increase in vehicle sales. Finerman said the sector looks strong, with many auto stocks up, demand strong and plant utilization up.
Daimler(DDAIF) as a trade. Adami went his favorite
Borgwarner(BWA - Get Report), and Kelly went with
Goodyear(GT - Get Report).
Stephen Weiss offered up a derivative trade with
Stillwater Mining(SWC - Get Report), a play on platinum which is used in the manufacture of catalytic converters.