Fast Money Recap: Bull Party Continues

The Dow closed up 76 points on Wednesday as the strength from the Federal Reserve rate cut continued to spill over for the bulls. The team at CNBC's "Fast Money" begins to look beyond the Fed decision and explores trade opportunities with this positive momentum.

Pete Najarian states that investors should look at the volatility in the S&P 500, which is moving back to normal. However, Jeff Macke says that market bears are instant messaging him with more short ideas than any other time in his most recent memory. Guy Adami predicts that Friday could be a funky day with options expiration on tap.

Speaking of Options

Najarian is seeing unusual options activity on Cree(CREE Quote). He points out that option players are buying a ton of September $35 calls, which could signal a takeover before the end of the week. He also noted that the rumored buyer was General Electric(GE Quote). (RealMoney Take: Dan Fitzpatrick said recently, "Cree is poised to break out from a short-term "flag" pattern." To read more on what Fitzpatrick said, click here.

Adami's Analysis

A new segment launched on Wednesday called "Adami's Analysis." Adami took a trip to the UPS Center in New York City to find out what is going on at the packaging giant. Adami likes United Parcel(UPS Quote) for the following three reasons: international growth, energy hedging and union contracts. He went on to explain that UPS hedges against energy by giving their drivers routes that only allow for them to turn right the entire time....