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'Fast Money' Recap: Forget the Fed, What About Apple?

Finerman said she was hoping for Target to pull back following its recent earnings report where management lowered expectations. The stock is "not particularly cheap right here," she added. 

Finerman said Bank of America (BAC) trades at just over one times tangible-book value, which indicates it's fairly valued. She added that the stock can get to $20 over the next 18 months but needs interest rates to move higher to improve profitability. Grasso said he agrees with Finerman's longer-term outlook and said the stock is likely to remain rangebound between $14.50 and 16.50. 

Nathan said shares of Bank of America trade "horribly," and he would look elsewhere for the time being.

Anthony Grisanti, founder, president and oil trader at GRZ Energy, said WTI crude oil could fall another $5 per barrel by the October expiration. Demand is lower, supply is higher and geopolitical issues are not causing prices to rise. Demand almost always falls in the fourth quarter, too, he concluded. 

Must Read: Stock Market Today: Stocks Regain Momentum, Shrug Off Hawkish Fed Minutes

Kelly said he covered his short position in crude oil. In order for him to sell the commodity short once again there would need to be another catalyst, such as lower demand, a slowing European economy or lower geopolitical tensions. 

Grasso said he is still long Cheniere Energy (LNG) but large, integrated oil stocks are headed lower if crude heads lower, too. 

Finerman said tanker companies such as Navios Maritime Acquisition (NNA) trade based on oil supply, which is higher, and not prices, which are falling. 

Kelly said he has small bearish position in the iShares 20+ Treasury Bond ETF (TLT) via put options ahead of Friday's Federal Reserve Jackson Hole speech. 

JetBlue Airways (JBLU) climbed 3% and was the first stock on the show's "Pops & Drops" segment. Grasso said he would stay long the stock despite the 49% year-to-date increase in the stock price. 

Cumulus Media (CMLS) popped 6%. Finerman said the stock has been "painful" to be in but she is still long. The recent selloff was overdone, she added. 

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