NEW YORK (TheStreet) -- The S&P 500 rallied on Monday, closing higher by 0.79%.
On CNBC's "Fast Money" TV show, Brian Kelly, founder of Brian Kelly Capital, said he would take profits in Caterpillar (CAT). He added that investors can short the stock with a stop-loss at $101.
Guy Adami, managing director of stockmonster.com, said technology stocks will likely continue moving higher. He was a buyer of Oracle (ORCL) and Microsoft (MSFT) and a seller of International Business Machine (IBM).
Tim Seymour, managing partner of Triogem Asset Management, said he likes financial and large-cap technology stocks going into the second quarter.Karen Finerman, president of Metropolitan Capital Advisors, said Apple (AAPL) needs to introduce a new product category to break the stock out of its current range. Adami pointed out that cloud technology stocks, particularly F5 Networks (FFIV), continue to trade well. Brent Thill, an analyst at UBS Securities, has a buy rating on Microsoft with a $46 price target. He expects the company to begin building a "cross platform" between mobile and desktop computing. He added that the big management change continues to be the bullish catalyst for the stock. He concluded the Microsoft Windows app on Apple devices works great so far. Kelly said he'll likely look to take profits in Microsoft near the $42.50 level.
Seymour said Microsoft's current valuation is historically higher than usual, meaning the company will have to do well when it reports earnings on April 24. Adami said the stock needs to beat earnings estimates "meaningfully" in order for the stock to go higher. He suggested being long until the event. Brian Marshall, senior managing director at ISI Group, was a guest on the show. Apple is suing Samsung for five patent infringements. Marshall said Apple could sue a lot of companies, but likely will not. He thinks the lawsuit is unlikely to alter either the patent or technological landscape for smartphone makers. He suggested the iPhone 6 will be a big catalyst for the company as more and more customers upgrade to the device.