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NEW YORK (TheStreet) -- The broader market snapped its winning streak, closing in the red on Thursday.

On

CNBC's

"Fast Money" TV show, fading trends and strong trends fueled the discussion. Dan Nathan said he expects

Netflix

(NFLX) - Get Netflix, Inc. (NFLX) Report

to break down, citing a five-year low in the short interest. He added that he still likes

Qualcomm

(QCOM) - Get QUALCOMM Incorporated Report

.

Karen Finerman said she really liked

CVS Caremark

(CVS) - Get CVS Health Corporation Report

, but it has become too overvalued at this point.

Jon Najarian thinks shipping stocks, such as

DryShips

TheStreet Recommends

(DRYS) - Get DryShips Inc. Report

and

Diana Shipping

(DSX) - Get Diana Shipping Inc. Report

are overextended. He added that he still likes

Ciena

(CIEN) - Get Ciena Corporation Report

.

Anthony Scaramucci also does not like Netflix at these levels but would still be a buyer of

Facebook

(FB) - Get Facebook, Inc. Class A Report

.

Twitter

announced that it filed for its much awaited IPO, with

Goldman Sachs

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as the lead underwriter. Dan Niles, CIO of Alpha One Capital Partners, was quick to remind everyone what happened with Facebook after its public debut.

He added that the company continues to grow revenue at a strong rate and also has a solid mobile advertising platform. The stock will certainly be in demand, but Niles said he wants to see what the valuation will be first.

Scaramucci believes

Morgan Stanley

(MS) - Get Morgan Stanley (MS) Report

will have some sort of role with the underwriting, although not as the lead underwriter.

Mike Khouw said there could be a lot potential in Twitter, unlike what he thought about Facebook. He added that Twitter is a legitimate news source and that it has a lot of promise.

Barbara Marcin, manager of the Gabelli Dividend Growth Fund, said she does not think money will come out of

Apple

(AAPL) - Get Apple Inc. (AAPL) Report

and go into the Twitter IPO due to its different investor base. She added that if you don't include its cash, Apple is extremely cheap and multiple expansion will eventually come when the company releases new products.

Barney Harford, CEO of

Orbitz Worldwide

(OWW)

, was a guest on the show and said the company's main focus is in the hotel part of the business and driving continued acceleration in hotel-unit volumes. He added the company's recent acquisitions are setting it up well for the future along with the push into mobile.

Najarian said he likes Orbitz Worldwide, but admitted that

TripAdvisor

(TRIP) - Get TripAdvisor, Inc. Report

was his favorite in the space.

It was announced that hedge fund manager Carl Icahn has sold the rest of his stake in

Hain Celestial Group

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. Finerman said it would be interesting to see if his firm kept its two seats on the board.

GSV Capital

(GSVC)

, which has a roughly 14.4% stake in Twitter, moved sharply higher in the after-hours on the news of the potential IPO.

For their final trades, Scaramucci was a buyer of Facebook, Najarian said to buy

Arris Group

(ARRS) - Get ARRIS International Plc Report

based on unusual options activity and Nathan said to short

General Motors

(GM) - Get General Motors Company (GM) Report

. Khouw said he was a buyer of long-dated calls in

Freeport-McMoRan

(FCX) - Get Freeport-McMoRan, Inc. (FCX) Report

and Finerman said if traders are going to stay long, they should buy some puts on the

SPDR S&P 500 fund ETF

(SPY) - Get SPDR S&P 500 ETF Trust Report

as downside protection.

-- Written by Bret Kenwell in Petoskey, Mich.

Follow @BretKenwell

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Bret Kenwell currently writes, blogs and also contributes to Robert Weinstein's Weekly Options Newsletter. Focuses on short-to-intermediate-term trading opportunities that can be exposed via options. He prefers to use debit trades on momentum setups and credit trades on support/resistance setups. He also focuses on building long-term wealth by searching for consistent, quality dividend paying companies and long-term growth companies. He considers himself the surfer, not the wave, in relation to the market and himself. He has no allegiance to either the bull side or the bear side.