'Fast Money' Recap: Another High, Another Jobs Report
NEW YORK (TheStreet) -- The S&P 500 hit yet another record high on Thursday, ahead of February's nonfarm payrolls report on Friday morning.
On CNBC's "Fast Money" TV show, Tim Seymour, managing partner of Triogem Asset Management, said investors should start to consider the duration of the current bull market (roughly five years), and the seasonality of the current year, where he thinks April will be "rocky."
He added that volatility is cheap at current levels, which could be used for a hedge, although markets still have more room to the upside. He suggested investors give a "free pass" on Friday's employment report because the weather has been so bad.
Jon Najarian, co-founder of optionmonster.com and trademonster.com, agreed that Friday's nonfarm payrolls report would be more of a non-event, while future economic reports this month will start to matter more.Karen Finerman, president of Metropolitan Capital Advisors, wondered if unrest in Ukraine would resurface, hurting U.S. equities in the not-so-distance future. Dan Nathan, co-founder and editor of riskreversal.com, said U.S. equities seem like a safe haven right now. He added that Russian stocks have yet to really rebound from earlier this week, while the DAX has only made up half of its losses. He added that there is still some fear in the market since the S&P 500 made new highs while the CBOE Volatility Index (VIX.X) has not hit previous lows. Gold also moved higher, another sign of the "fear trade." Seymour said crude oil can continue to move higher. He also likes the precious metal miners.
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