NEW YORK (TheStreet) -- The Dow Jones Industrial Average closed at an all-time high as the markets roared higher once again.
Jon Najarian, co-founder of optionmonster.com and trademonster.com, said if China starts to do well, then Sina (SINA) - Get SINA Corp. Report, Qihoo 360 Technology (QIHU) and the iSharesChina Large-Cap ETF (FXI) - Get iShares China Large-Cap ETF Report should all do very well.
Karen Finerman, president of Metropolitan Capital Advisors, said that not all stocks are going up and down in unison. She added that many stocks are now trading based on the fundamentals.
Dan Nathan, co-founder and editor of riskreversal.com, agreed with Finerman, pointing out the weakness in big tech names like InternationalBusinessMachine (IBM) - Get International Business Machines (IBM) Report and CiscoSystems (CSCO) - Get Cisco Systems, Inc. Report.
Pandora (P) fell after reporting earnings and Nathan said to buy it the mid-$20s.
Mary Epner, a retail analysis principal, was a guest on the show and said she liked RossStores, (ROST) - Get Ross Stores, Inc. Report, despite its earnings report. She said the luxury market and discount stores are still doing well, while middle-priced markets aren't faring as well. She said companies like Polo Ralph Lauren (RL) - Get Ralph Lauren Corporation Class A Report and Michael Kors (KORS) should continue to do well. Epner stressed that jewelry, accessories, shoes and athletic apparel should do well.
Nathan warned investors about the number of retailers near 52-week highs, and noted that many have sold off since, such as GameStop (GME) - Get GameStop Corp. Class A Report and BestBuy (BBY) - Get Best Buy Co., Inc. Report.
The Financial Select Sector SPDR ETF (XLF) - Get Financial Select Sector SPDR Fund Report is finally breaking out above resistance, Nathan said. He suggested the ETF could go above $24 and said it should trend higher into 2014.
Finerman said she likes J.P. Morgan (JPM) - Get JPMorgan Chase & Co. (JPM) Report and BankofAmerica (BAC) - Get Bank of America Corp Report, while Citigroup (C) - Get Citigroup Inc. Report was her top pick.
Seymour said BAC could get to $19.
General Motors (GM) - Get General Motors Company (GM) Report was the first stock on the show's "Pops & Drops" segment and Finerman said the U.S. Treasury department is almost completely out of the stock.
The Fresh Market (TFM) missed on the top and bottom lines and Nathan said the industry seems expensive because competition continues to increase.
Finerman said she does not like to buy ahead of big events, such as LionsGateEntertainment's (LGF) Hunger Games: Catching Fire debut. Instead, she called it a "buy-the-rumor, sell-the-news" type of event.
For their final trades, Najarian is buying DollarGeneral (DG) - Get Dollar General Corporation Report and Seymour suggested investors trim long positions in CliffsNaturalResources (CLF) - Get Cleveland-Cliffs Inc Report and WalterEnergy (WLT) . Finerman is a buyer of FL and Nathan said to short IBM via long put options.
-- 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.