NEW YORK (TheStreet) -- The S&P 500 and Dow Jones Industrial Average both closed at all-time highs.
On CNBC's "Fast Money" TV show, Guy Adami, managing director of stockmonster.com, said Twitter (TWTR) - Get Twitter, Inc. Report might have a small pullback but suggested investors definitely not short the stock.
Axiom Capital's Gordon Johnson added that TWTR is very overvalued compared to Facebook (FB) - Get Meta Platforms Inc. Class A Report. He said not to short TWTR now, but to look for an opportune time to do so.
Jim Lebenthal, CFO and CIO of Lebenthal & Company, said he wouldn't get long or short TWTR at current levels.
Jon Najarian, co-founder of optionmonster.com and trademonster.com, said there is a shortage of stock available for TWTR, helping to drive the price higher. He can't justify owning it at current levels.
Ben Kallo, senior research analyst at RW Baird, was a guest on the show. He said Chinese demand for Tesla Motors' (TSLA) - Get Tesla Inc Report Model S is not an issue but production and charging proponents are. He'd rather be in solar stocks such as SunPower (SPWR) - Get SunPower Corporation Report and SolarCity (SCTY) in 2014.
Adami suggested investors who bought the dip in TSLA should take profits now. Johnson said he is a seller of Trina Solar (TSL) .
Turning to mobile, Lebenthal said T-Mobile U.S. (TMUS) - Get T-Mobile US, Inc. Report is unlikely to go much higher, even in an M&A situation, because it's gone up so much already this year. He added that at some point antitrust issues will become a concern within the rapidly consolidating industry.
Najarian said BlackBerry undefined could continue to go lower. Adami concurred.
Toyota Motors (TM) - Get Toyota Motor Corp. Report continues to lag the Nikkei and S&P 500. Adami said the price action of TM is odd since it should not be lagging. He recommended buying it based on valuation.
David Kelly, chief global strategist at JPMorgan Funds, was a guest on the show. He said the U.S. stock market could appreciate 5% per year over the next five years. He had suggested it could appreciate 10% per year over the same period, but after 2013's huge run he has trimmed those estimates.
He likes European equities because of Europe's recovering economy and earnings potential. He likes Japan as an investment although it is risky.
Adami said railroad stocks should continue to do well and he likes Kansas City Southern (KSU) - Get Kansas City Southern Report. Johnson likes the railroads, too, and suggested CSX Corp. (CSX) - Get CSX Corporation Report and NorfolkSouthern (NSC) - Get Norfolk Southern Corporation Report.
Johnson said he is a seller of U.S. Steel (X) - Get United States Steel Corporation Report, Joy Global (JOY) and Rio Tinto (RIO) - Get Rio Tinto Plc Report based on the assumption that commodity prices will fall from declining demand from China.
Bryan Gildenberg, chief knowledge officer at Kantar Retail, was a guest on the show. He said volume must have been very strong for United Parcel Service (UPS) - Get United Parcel Service, Inc. Class B Report to fail in its delivery promise to customers. He considered the heavy volume a good thing, and the stock rallied on Thursday in agreement. He added that Amazon (AMZN) - Get Amazon.com, Inc. Report continues to win over customers at the expense of traditional brick-and-mortar retailers.
Johnson is bullish on the retail sector because consumers don't appear to be curtailing their spending. He likes J.C. Penney (JCP) - Get J. C. Penney Company, Inc. Report. Lebenthal suggested investors look at Nordstrom (JWN) - Get Nordstrom, Inc. Report.
Najarian said shares of Lululemon Athletica (LULU) - Get Lululemon Athletica Inc Report should eventually recover from their recent plunge. He said the new CEO should help steer the company in the right direction.
For their final trades, Johnson is buying Micron (MU) - Get Micron Technology, Inc. Report and Lebenthal said to buy BP PLC (BP) - Get BP Plc Report. Najarian is a buyer of Atmel (ATML) and Adami said to buy Anadarko Petroleum (APC) - Get Anadarko Petroleum Corporation Report.
-- Written by Bret Kenwell in Petoskey, Mich.
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.