NEW YORK (

TheStreet

) -- All three major indices closed near session highs as investors cheered the dovish tone from future

Federal

Reserve

chairwoman Janet Yellen.

Guy Adami, managing director of

stockmonster.com

, said the Fed will not taper for a long time, possibly past next summer. He added that he likes

Mohawk

Industries

(MHK) - Get Mohawk Industries, Inc. (MHK) Report

.

Brian Kelly, founder of Brian Kelly Capital, said traders could look to buy

Zillow

(Z) - Get Zillow Group, Inc. Class C Report

for a trade and added that the Fed will remain accommodative.

Karen Finerman, president of Metropolitan Capital Advisors, said she likes

Realogy

Holdings

(RLGY) - Get Realogy Holdings Corp. Report

.

Steve Grasso of Stuart Frankel & Company said

Louisiana-Pacific

(LPX) - Get Louisiana-Pacific Corporation Report

has been lagging behind in the rally and should start to play catch-up soon.

Pete Flint, CEO and Co-Founder of

Trulia

(TRLA)

, was a guest on the show and simply stated that the company is not for sale. He added that they are actively exploring M&A, partLy because of the massive costs of business expansion.

For their favorite housing plays, Adami liked

D.R. Horton

(DHI) - Get D.R. Horton, Inc. Report

and Kelly suggested

Toll

Brothers

(TOL) - Get Toll Brothers, Inc. Report

.

Finerman said to buy

Bank

of

America

(BAC) - Get Bank of America Corp Report

and Grasso concurred, adding that if the stock can clear $14.92 on the upside, it might start to fill its gap back up to $20.

Kelly said investors could buy

Move

(MOVE)

as a trade.

Warren Buffett's

Berkshire Hathaway

took a 40.1 million share position in

Exxon

Mobil

(XOM) - Get Exxon Mobil Corporation Report

and Adami said the stock could trade up to $96, after forming a double-bottom at $85.

He added that

FedEx

(FDX) - Get FedEx Corporation Report

has a lower valuation than

United Parcel Service

(UPS) - Get United Parcel Service, Inc. Class B Report

and could continue moving higher.

Leon Cooperman's Omega Advisors took a position in

Freeport-McMoRan

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

, but Kelly said the divergence between the stock price and copper is very big and investors that think copper is headed lower can short FCX.

Adami and Grasso said

Yahoo!

(YHOO)

is trading well and looks to be headed towards $40 ahead of the

Alibaba

IPO.

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Ed Yardini, president of Yardeni Research, was a guest on the show and said the

S&P 500's

earnings should continue to grow at a decent rate. He expects to see a secular bull market for the next two to four years. Specifically, he likes information technology, industrials, financials and consumer discretionary stocks.

Kohl's

(KSS) - Get Kohl's Corporation (KSS) Report

fell 8% on a disappointing earnings report and Finerman said the stock seems okay to buy at these levels.

Kelly said that

Wal-Mart

(WMT) - Get Walmart Inc. Report

is one of his favorite retail picks.

Grasso said retail looks too extended, but

Nordstrom

(JWN) - Get Nordstrom, Inc. (JWN) Report

looks to be breaking out technically. He suggested trimming longs in

Macy's

(M) - Get Macy's Inc Report

.

Cisco Systems

(CSCO) - Get Cisco Systems, Inc. Report

plunged 12% from poor guidance in its earnings report and Kelly said getting long is a low-risk trade with support near $21.

Mike Khouw, managing director and primary strategist at DASH Financial, said

Twitter

(TWTR) - Get Twitter, Inc. Report

options will starting trading on Friday and are likely to be expensive.

Adami said McDonald's (MCD) - Get McDonald's Corporation (MCD) Report has performed very poorly considering the run in equities for 2013. He added that the stock is not yet compelling enough to buy.

Mark Mahaney, managing director of RBC Capital Markets, was a guest on the show and said YHOO isn't trading higher on fundamentals and has limited upside. He added that

Snapchat

(which refused a $3 billion takeover bid) would have been a good acquisition for

Facebook

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

. He added that they still like

Google

(GOOG) - Get Alphabet Inc. Class C Report

, but not as much as

Amazon

(AMZN) - Get Amazon.com, Inc. Report

,

Priceline.com

PCLN and

Netflix

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

, in that order.

Adami said

JetBlue

Airways

(JBLU) - Get JetBlue Airways Corporation Report

is headed higher, possibly to $10.

Finerman said

Citigroup

(C) - Get Citigroup Inc. Report

could get to $60 to $65 in the next twelve months without being too overvalued.

For their final trades, Grasso was a buyer of LPX, Adami said to buy

Apache

(APA) - Get Apache Corporation Report

and Finerman was buying

Liberty

Interactive

(LINTA)

. Khouw said he is a buyer of

eBay

(EBAY) - Get eBay Inc. Report

via long-dated call options and Kelly said to buy the

United States Natural Gas Fund

(UNG) - Get United States Natural Gas Fund LP Report

.

-- 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.