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'Fast Money' Recap: Reacting to Yellen

NEW YORK ( TheStreet) -- All three major indices closed near session highs as investors cheered the dovish tone from future Federal Reserve chairwoman Janet Yellen.

Guy Adami, managing director of stockmonster.com, said the Fed will not taper for a long time, possibly past next summer. He added that he likes Mohawk Industries (MHK).

Brian Kelly, founder of Brian Kelly Capital, said traders could look to buy Zillow (Z) for a trade and added that the Fed will remain accommodative.

Karen Finerman, president of Metropolitan Capital Advisors, said she likes Realogy Holdings (RLGY).

Steve Grasso of Stuart Frankel & Company said Louisiana-Pacific (LPX) has been lagging behind in the rally and should start to play catch-up soon.

Pete Flint, CEO and Co-Founder of Trulia (TRLA), was a guest on the show and simply stated that the company is not for sale. He added that they are actively exploring M&A, partLy because of the massive costs of business expansion.

For their favorite housing plays, Adami liked D.R. Horton (DHI) and Kelly suggested Toll Brothers (TOL).

Finerman said to buy Bank of America (BAC) and Grasso concurred, adding that if the stock can clear $14.92 on the upside, it might start to fill its gap back up to $20.

Kelly said investors could buy Move (MOVE) as a trade.

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