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
TheStreet Open House

'Fast Money' Recap: Taper Talk

NEW YORK ( TheStreet) -- After the Federal Reserve's Federal Open Market Committee meeting, the markets whipped higher and lower, ultimately closing slightly above session lows.

On CNBC's "Fast Money" TV show, Brian Kelly said he doesn't expect the Fed to taper in September and the economic data currently available are not good enough to prompt an earlier date

Tim Seymour disagreed, saying the Fed sounds like it is sticking to its original plan from June, which was aimed at slowing its asset purchases in September.

He added that the biggest move on the yield curve was in the five-year Treasury notes, indicating traders think interest rates will be adjusted higher in 2015.

Karen Finerman said it doesn't really matter when the Fed tapers, but how fast.

Jon Najarian added that this has not changed his perception of the market at all. He noted that the Dow Jones Industrial Average is only marginally off its all-time highs and this is simply a pullback.

Mike Khouw said tapering will happen eventually, but the volatility has inflated option premiums and he would look to sell that premium.

Merrill Lynch's Savita Subramanian was a guest on the show and she upheld her July prediction that the S&P 500 would finish the year at 1,750. She added that 5% pullbacks are common for the market and actually represents healthy price action. She concluded that this is a buying opportunity, specifically for technology, energy and industrial stocks.

Hewlett-Packard (HPQ) missed top-line estimates after reporting third-quarter earnings. Kelly said he would short any pops higher.

Seymour criticized HP management and said there are no real positive catalysts coming soon, so there's no reason to get into the name.

Khouw said the options market expected a move of around 11% and it doesn't look like that will happen. He remains bearish and said traders could look to short the stock via long puts.

Najarian said he likes Netflix (NFLX), but that the stock is too fully valued at this point.

Najarian defended Target (TGT) on the show's "Street Fight" segment, saying the stock had more room to go on the upside. In his bullish case he cited the company's new partnership with Facebook (FB), predictable dividend and growing online sales.

1 of 2

Select the service that is right for you!

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.
Submit an article to us!
DOW 17,131.97 +100.83 0.59%
S&P 500 1,998.98 +14.85 0.75%
NASDAQ 4,552.7590 +33.8570 0.75%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

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