Updated from 7:06 a.m. EDT

The traders of CNBC's "Fast Money" are starting to warm up to the U.S. stock market. The crew sees some incredible values and ridiculously cheap stocks in this bear market. The gang has been getting its viewers ready for a market rally by highlighting equity opportunities that continue to flash across the trading screens.

The traders know that in order to be successful on Wall Street, an investor must be able to identify when market sentiment has gone to an extreme. When this happens, the gang knows it's time to take the other side of the trade.

The gang recently highlighted trading ideas that play off potential takeover candidates, including UBS ( UBS); forced hedge fund selling, such as Starbucks ( SBUX); and global energy stocks, including Exxon ( XOM). Here are some highlights from over the past week as aggregated from the show.

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At the time of publication, Altucher and/or his fund had no positions in stocks mentioned, although positions may change at any time.

James Altucher is president of Stockpickr LLC, a wholly owned subsidiary of TheStreet.com and part of its network of Web properties, and a managing partner at Formula Capital, an alternative asset management firm that runs a fund of hedge funds. He is also a weekly columnist for the Financial Times and the author of Trade Like a Hedge Fund, Trade Like Warren Buffett and SuperCa$h. Under no circumstances does the information in this column represent a recommendation to buy or sell stocks. Altucher appreciates your feedback; click here to send him an email.

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