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'Fast Money' Recap: S&P Snapback

NEW YORK (TheStreet) -- The S&P 500 snapped its losing streak, closing higher by 0.38%. 

On CNBC's "Fast Money" TV show, Guy Adami, managing director of, said investors can "trust" Tuesday's rally. He added the S&P 500 seems likely to continue moving higher but won't make new all-time highs this month.  

Tim Seymour, managing partner of Triogem Asset Management, said investors should avoid stocks that are overvalued. He was a buyer of Apple (AAPL)

Anthony Scaramucci, founder and co-managing partner of SkyBridge Capital, called the market "okay" at current levels. He added that he is bullish over the long term. 

Must Read: 'Fast Money' Recap: More Market Downside Ahead?

Karen Finerman, president of Metropolitan Capital Advisors, said she would not sell into Tuesday's rally. She suggested investors look for quality companies with reasonable valuations such as Google (GOOGL)

Seymour likes General Motors (GM) because of its valuation and the strong U.S. auto market. Adami said investors could stay long the stock with a stop-loss at $34.

Chris Verrone, head of technical analysis at Strategas, said the S&P 500 is likely to decline another 40 to 50 points. He added that possible support could be found near 1,770 to 1,780. However, he argued that individual stocks can still be attractive. He liked Microsoft (MSFT)

Seymour said investors should use broad-based emerging market funds rather than country-specific funds. He added that he is a seller of the iShares MSCI Brazil Capped ETF (EWZ) and a buyer of the iShares MSCI South Korea Capped ETF (EWY)

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