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'Fast Money' Recap: What Should You Buy in July?

Stocks in this article: TLT SO LPG TRUE Z MOVE GM F BWA DLPH YHOO DHI KBH K GIS ADM MON GPRO MU AGN VRTX CSCO

NEW YORK (TheStreet) -- The S&P 500 fell ever so slightly on Monday, closing lower by 0.04%. 

On CNBC's "Fast Money" TV show, the trading panel revealed their top trades for the second half of 2014. 

For his second-half trade, Guy Adami, managing director of stockmonster.com, said interest rates are headed lower. He said the 10-year Treasury yield will decline towards 2% and the iShares 20+ Year Treasury Bond ETF (TLT) is headed "north of" $120.

Dan Nathan, co-founder and editor of riskreversal.com, said bond yields will not go that low if the global and U.S. economy continue to do moderately well. 

Karen Finerman, president of Metropolitan Capital Advisors, was unsure and said interest rates could go up or down at this point. 

Steve Grasso, director of institutional sales at Stuart Frankel, said the weak first-quarter GDP results were more than just weather related. He added equities are in for a bigger correction than many investors seem to think. For his second-half trade, Grasso is buying Southern Company (SO) and utility stocks. 

For Finerman's second-half trade, she is a buyer of energy stocks, which can continue to go higher despite the recent run. Specifically, she likes Dorian LPG (LPG)

Adami suggested that M&A activity in the energy sector is likely to accelerate in the second half of 2014. 

Grasso called the energy sector "frothy" at current levels, adding that if the Iraq situation calms down then WTI crude oil is likely headed lower. If that happens, a lot of energy stocks will get sold off as a result. 

For Nathan's second-half trade, he said the high-flying stocks that were brutally sold off in the spring are likely to be sold off again. These stocks will make new lows on the year he reasoned, and was most pessimistic on cloud stocks. 

Adami said shares of Zillow (Z) seem likely to continue outperforming Move (MOVE)

General Motors (GM) announced another recall, this one for 7.6 million vehicles. Finerman said the company may have quality control issues but has had excellent "crisis control" so far. She added that the stock continues to trade well despite the negative headlines. 

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