'Fast Money' Recap: Sell the Big Moves

The trading panel says tech is still good, but don't forget to take profits.
By Mike Taylor ,

The U.S. stock market dropped anchor Friday, as blue-chips closed with mixed results and the tech sector posted modest gains. The Dow lost 0.1%, the S&P 500 was up 0.2% and the Nasdaq added 0.6%.

On

CNBC's

"Fast Money" TV show, Jeff Macke said he's long technology, but he urged investors to sell the big moves in the space. He said

Cisco

(CSCO) - Get Report

and

Intel

(INTC) - Get Report

were good performers.

Guy Adami said that a breakout in

Dell

(DELL) - Get Report

shares is unlikely from here.

Pete Najarian observed that Dell had reported two losing quarters in a row before beating estimates in the most recent quarter. He said he was impressed by the company's improved international exposure, and he says there's more upside in the stock.

Low-End and High-End

In retail and consumer names, Karen Finerman observed that

Costco

(COST) - Get Report

and

Wal-Mart

(WMT) - Get Report

are both delivering on what the consumer needs by offering a value proposition. She said high-end retailer

Tiffany

(TIF) - Get Report

is benefiting from rich clientele and foreign buyers. She said she prefers high-end retailers.

Macke said that

Saks

(SKS)

lacks Tiffany's foreign exposure, which means it hasn't performed as well. He said Tiffany's foreign-currency effect has had a positive impact on earnings.

J. Crew

( JCG) is too expensive, said Finerman. She said she thinks the company is well run, but the valuation is not cheap enough. She said the stock needs to come in to $35.

Macke said specialty retail is still a danger zone.

Adami said the $35 level has been support for J. Crew shares, but he said he doesn't think it's going that low. He said viewers can buy J. Crew here.

That Oily Feeling

Adami said next week is the biggest week for commodities in years. He said he believes the commodities will go lower from here.

Najarian said that the oil service sector is not dependent on oil prices. He said that oil companies still need to find new oil, regardless of price. He said

Baker Hughes

(BHI)

and

Transocean

(RIG) - Get Report

are two such companies. He also said solar stocks were on fire on news that Germany wouldn't cut aid to the sector nearly as much as people had feared.

Macke said that next week is a big week for both the S&P and crude. Adami said stocks won't necessarily go up even if commodities go down.

Bank Shots

The traders observed that the regional banks have gotten beaten down lately. Finerman said she's anxious about the action and said she'd rather be in

Citigroup

(C) - Get Report

or the

Financial Select Sector SPDR

(XLF) - Get Report

.

Macke said buying that any financial stock is a leap of faith in terms of the balance sheet. He said the big banks are slightly more trustworthy.

Najarian said that there's been a pullback in volatility, which means investors can buy puts cheaply right now. Puts can protect investors' long positions in the financials, he said.

Deals on Wheels

Big-time investor Kirk Kerkorian made an $8.50 per share tender offer for

Ford

(F) - Get Report

. Finerman clarified that Kerkorian isn't bidding for the entire company, but only a portion. She said that paradoxically the bid will put pressure on stock that Kerkorian doesn't buy.

Harbinger Capital is buying a stake in

Cleveland-Cliffs

(CLF) - Get Report

. Najarian also pointed out that

Exxon Mobil

(XOM) - Get Report

insiders are selling shares. He advised viewers to take a look at

SandRidge

(SD) - Get Report

, which has also seen heavy insider buying.

Adami pointed out that Cleveland-Cliffs has pricing power, just like the steel sector.

Biopharma Prepares

The traders spoke with Kris Jenner, who runs the T. Rowe Price Health Sciences Fund about the upcoming ASCO conference, a big event for biopharma stocks. Henner said that a study on Erbitux, which is a joint project among

BristolMyersSquibb

(BMY) - Get Report

,

ImClone

(IMCL)

and

Merck

(MRK) - Get Report

. He said the lung cancer drug will be a big deal in six to 12 months and he likes ImClone over the next year, but pointed out that in the short term shares would be volatile.

Of Amylin, Jenner said he likes the potential for its diabetes drug. He also said that Merck may once again be an industry leader in two to three years. Adami agreed.

Quicker Than the Ticker

Finerman had chosen

Valero

(VLO) - Get Report

calls, which skyrocketed in value after her call. Najarian had chosen

American Superconductor

(AMSC) - Get Report

, which subsequently added 16%. Macke selected

Activision

(ATVI) - Get Report

, which was up 22% after his call. Adami picked

AMR

(AMR)

, which jumped 17%.

On

Home Depot

(HD) - Get Report

, Macke said that on a valuation basis the stock may be a buy. He said this is a play on the consumers' likely propensity to stay home this summer.

Adami pointed out that government stimulus checks will be in this present quarter's numbers. He said that one of the board members bought $91 million in Home Depot stock this week. It's a buy, he said.

I like Home Depot management because it's straightforward about headwinds, said Finerman.

The traders spoke with former

AMR

(AMR)

Chairman and CEO Robert Crandall about the government's current transportation policy. Crandall advocated limiting the number of flights permitted in and out of crowded airports. That would keep planes from wasting fuel by idling on the runways, he said. He also said it would be wise to fix train tracks between New York and Boston to stop as many short flights from leaving the ground.

Adami said that if the government implements the initiatives Crandall described, engineering stocks would be the way to go.

Fast Fire

Macke had chosen

Kohl's

(KSS) - Get Report

. Shares then languished. He said he would buy the dip here and the stock will work in the future.

Najaraian had chosen

DryShips

(DRYS) - Get Report

. He said the stock is very volatile and he's no longer in it. He said he still likes the shippers.

Finerman had chosen

Golar LNG

(GLNG) - Get Report

. She said she's very excited about the company and pointed out it's going to split its business. She said she bought more on the dip.

Adami had chosen

Quicksilver

(ZQK)

. "I should've kept my mouth shut," he said. He thinks it's still worth a shot.

Netflix

(NFLX) - Get Report

CEO Reed Hasting joined the show to discuss his business. He said his company is going to improve business with a free video streaming service.

Final Trade

Macke chose

Costco

(COST) - Get Report

.Adami selected

Nucor

(NUE) - Get Report

.Finerman picked

Maguire Properties

(MGP) - Get Report

. Najarian chose

Synthetic Energy Systems

(SYMX)

.

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