This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
See Cramer's multi-million dollar portfolio for FREE and get his new book Get Rich Carefully! Learn More

'Fast Money' Recap: Apple Upside?

NEW YORK (TheStreet) -- The markets opened lower Monday but ended the day mixed.

Even though Apple (AAPL) is up 10% in the past month, Pete Najarian said on CNBC's "Fast Money" TV show that he still thinks there's upside momentum. He cited that there was heavy options buying in the September 500 calls.

Steve Grasso disagreed, at least over the short term. He said that with the rally to $470, he would look to take profits near the 200-day moving average. He would again be a buyer around $440.

Tim Seymour said the last time Apple broke through its 200-day moving average on the upside was in April of 2009, and that he doesn't think the stock will be able to break through on its first try this year. He added that he was a seller at $505.

Karen Finerman thinks the upside momentum will continue since investors still have about a month until the new iPhone launch on Sept. 10.

Guest Collin Gillis has a $500 price target on Apple, along with a buy rating. However, he doesn't think the stock will ever get back to its all-time highs.

Finerman said that if there's any trade on J.C. Penney (JCP), it's on the short side. The company reports earnings on Aug. 20.

Grasso said he sold Tesla Motors (TSLA), but definitely wouldn't think of shorting it.

Guest Dennis Gartman, editor of The Gartman Letter, said that between buying physical gold or the gold miners, he's a buyer of the miners. He added that it was the first time years it made sense to own the miners from a risk perspective.

He said investors could gain exposure to miners via the Market Vectors Gold Miners ETF (GDX) and exposure to gold through the SPDR Gold Trust ETF (GLD). But he is avoiding silver because of the volatility.

Najarian said he likes the iShares Silver Trust ETF (SLV) as his way to trade the precious metals because the price fluctuations are typically more extended than that of gold's.

F5 Networks (FFIV) was the first stock on the show's "Pops & Drops" segment; it jumped 3% on Monday. Najarian said there's plenty more upside left.

Stock quotes in this article: YUM, SEAS, CXW, DE, GE, VIX, UTX, C, ATVI, POT, EEM, AAPL, JCP, TSLA, GDX, GLD, SLV, FFIV, CAT, SYY, BEAM, M, WMT 

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
DOW 16,408.54 -16.31 -0.10%
S&P 500 1,864.85 +2.54 0.14%
NASDAQ 4,095.5160 +9.2910 0.23%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto
Advertising Partners

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs