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'Fast Money' Recap: Timing the Market

NEW YORK ( TheStreet) -- After a volatile day in the markets, indices ended mostly flat on Wednesday.

Melissa Lee, the host of CNBC's "Fast Money" TV show, wanted to talk about some of July's biggest winners in the stock market.

Guy Adami said Tesla (TSLA) has been incredible this year and, while he has mistimed it before, he would still look to be taking some profits.

Brian Kelly agreed. He said taking profits would be the wisest thing to do, but reiterated that he was not implying to try and short the stock.

Karen Finerman said Apple (AAPL) was going through something of a relief rally and that the 30 million shares repurchased by the company seems to be helping. She says to hold the stock.

Adami said that Apple put in a nice bullish chart pattern, with a double bottom near $385. He added that the stock needs to close above the May highs of $455 in order to continue the uptrend.

Tim Seymour said he would hold Netflix (NFLX) even though international subscribers continue to grow and content is doing better than expected. He added that the growth is baked in, but he would not recommend shorting it.

Kelly said TripAdvisor (TRIP) was interesting, especially after its recent strong earnings report. However, the stock has moved too far, too fast and he would recommend a call replacement strategy for those that have been in the name.

E-Trade (ETFC) was up almost 20% in the month and Mike Khouw said the stock would go up on any good news since it was hated so much. The earnings were decent, but the stock has a lot of headwinds going forward. Therefore, he is not a buyer.

Guest Edward Yardeni said he expects the bull market to continue for a couple of more years, but to soon take a pause. His reasons include the expected bond-buying tapering from the Federal Reserve, continued government sequestration for the government's next fiscal year that begins on Oct. 1 and Obamacare going into effect.

Seymour said the Fed's FOMC statement on Wednesday was much more dovish than what most people expected. He recommending buying the U.S. dollar and selling the euro.
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