This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
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
$1 buys you full access to ALL of TheStreet's Subscription Services! Learn More

'Fast Money' Recap: Cashing In

Stocks in this article: COPXOMTSLAEEMXDISDALVLOFBSINAINTCTPLM

NEW YORK ( TheStreet) -- The broader markets were able to end the week on a positive note.

On CNBC's "Fast Money" TV show, Pete Najarian said he's raising cash and feels the market's move higher is only short-term. He also stressed that he's not bearish but he wants to lighten up his equity exposure.

Tim Seymour said despite the historical weakness for equities in September, the month has been pretty good the past couple of years. He added that he would take some gains.

Guy Adami said the recent strength in stocks is something to sell into. He added that he likes ConocoPhillips (COP) near $66 and Exxon Mobil (XOM) near $85.

Steve Grasso said he sold his position in Tesla Motors (TSLA) and will look to buy on a pullback, and is still long the iShares MSCI Emerging Markets ETF (EEM). He added that the market seems to have baked in about $15 billion per month in tapering from the Federal Reserve.

Gold had its worst week since June, but spiked near the end of the day on concerns over Syria. Grasso said that while the Fed does matter for gold, all the focus is on Syria right now.

In other commodities, Adami said steel looks to have turned the corner, despite having a bad day on Friday. He added that U.S. Steel Corp. (X) has formed a solid base.

Seymour said the industrial side of the world is starting to accelerate and wants to be in three main industries: cyclical industrials, bulks and industrial metals. He added he expects four to six weeks of weakness, but thinks the fourth quarter will be strong.

Mary Ann Bartels, CIO of portfolio strategies at Merrill Lynch, was a guest on the show and said she remains very bullish on equities, with a 1,750 year-end target for the S&P 500. She added that stocks have been impressively strong in the face of potential tapering and rising rates. Bartels likes the energy, technology and industrial sectors.

Disney (DIS) was the first stock on the show's "Pops & Drops" segment and Grasso said he would buy any weakness in the name.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Jim Cramer and Stephanie Link reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

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
Stocks Under $10

Jim Cramer's protégé, 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
Try it NOW
Try it NOW
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

Jim Cramer's protégé, 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
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

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

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
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!

Markets

DOW 17,827.75 +12.81 0.07%
S&P 500 2,072.83 +5.80 0.28%
NASDAQ 4,787.3170 +29.0650 0.61%

Brokerage Partners

Rates from Bankrate.com

  • 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