NEW YORK (TheStreet) -- The S&P 500 climbed 12.5 points to close at a record high of 1,940.46 on Thursday.
On CNBC's "Fast Money" TV show, the trading panel took a look at today's action.
Brian Kelly, founder of Brian Kelly Capital, said the European Central Bank seems to have given the all-clear signal to investors ahead of Friday's nonfarm payrolls report. Kelly bought German stocks, sold oil and copper and covered his short position in gold.
Karen Finerman, president of Metropolitan Capital Advisors, said she bought protection in the form of SPDR S&P 500 Trust ETF
(SPY) put options because the CBOE Volatility Index
(VIX.X) is so low, now below $12.
Dan Nathan, co-founder and editor of riskreversal.com, asked, what's to stop the Russell 2000 from re-testing its previous highs? He is a buyer of quality stocks with reasonable valuations such as Cisco Systems (CSCO), Ford (F), and General Electric (GE).
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