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NEW YORK (TheStreet) -- After the Federal Reserve's Federal Open Market Committee meeting, the markets whipped higher and lower, ultimately closing slightly above session lows.



"Fast Money" TV show, Brian Kelly said he doesn't expect the Fed to taper in September and the economic data currently available are not good enough to prompt an earlier date

Tim Seymour disagreed, saying the Fed sounds like it is sticking to its original plan from June, which was aimed at slowing its asset purchases in September.

He added that the biggest move on the yield curve was in the five-year Treasury notes, indicating traders think interest rates will be adjusted higher in 2015.

Karen Finerman said it doesn't really matter when the Fed tapers, but how fast.

Jon Najarian added that this has not changed his perception of the market at all. He noted that the

Dow Jones Industrial Average

is only marginally off its all-time highs and this is simply a pullback.

Mike Khouw said tapering will happen eventually, but the volatility has inflated option premiums and he would look to sell that premium.

Merrill Lynch's Savita Subramanian was a guest on the show and she upheld her July prediction that the

S&P 500

would finish the year at 1,750. She added that 5% pullbacks are common for the market and actually represents healthy price action. She concluded that this is a buying opportunity, specifically for technology, energy and industrial stocks.


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missed top-line estimates after reporting third-quarter earnings. Kelly said he would short any pops higher.

Seymour criticized HP management and said there are no real positive catalysts coming soon, so there's no reason to get into the name.

Khouw said the options market expected a move of around 11% and it doesn't look like that will happen. He remains bearish and said traders could look to short the stock via long puts.

Najarian said he likes


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, but that the stock is too fully valued at this point.

Najarian defended


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on the show's "Street Fight" segment, saying the stock had more room to go on the upside. In his bullish case he cited the company's new partnership with


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, predictable dividend and growing online sales.

Seymour countered, saying the stock looked weak technically after breaking below its 200-day moving average. Although the company beat on bottom-line estimates, the guidance it provided was below the consensus. He added that lower-end consumers have been under pressure, hurting sales.


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was the first stock on the show's "Today's Trending Trades" segment, after hitting all-time highs following a top- and bottom-line earnings beat. Kelly called the stock a buy, but suggested waiting a couple of days.

Goldman Sachs

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could lose $100 million or more from an electronic trading glitch and Seymour said this will not materially affect the company. But is a wake-up call for what happens when machines run the trading desks.

Najarian said the news of


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looking to be the next broadcaster for the National Football League's Sunday Ticket package is a "game changer." He added that it's a big opportunity for the league,


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or Netflix, if any of those companies choose to get involved.

Seymour was a buyer of

Delta Air Lines

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, saying it is the best airline because of its dominant flight routes and fair valuation.

Najarian said he also likes the airlines and added that stable fuel prices and baggage fees have been helping.

Most companies would be worried when competition in the form of Apple or Google attempt to enter the same business space, but not



, which is up over 130% on the year. Najarian suggested that the two tech titans may look to acquire the online-music leader.

Finerman said she likes

North Atlantic Drilling


, a Norwegian entity. She added that the company will do another offering this year, providing more liquidity to shares.

Kelly said he is content with how the markets have pulled back, although he wasn't willing to call a bottom quite yet. He added that it's hard to be negative when the Fed has the market's back.

Seymour thinks the selloff in emerging markets is overdone and likes the

iShares MSCI Emerging Markets ETF

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as a way to play the long side.

Najarian said


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is one of the best ways to gain long exposure to Europe.

For the final trades, Finerman said to buy


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and Najarian is a buyer of

Two Harbors Investment Corp.

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. Kelly said to buy the

CurrencyShares Canadian Dollar Trust ETF

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and Seymour was buying

Exxon Mobil

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, because it's oversold.

-- Written by Bret Kenwell in Petoskey, Mich.

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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.