'Fast Money' Portfolios of the Week

NEW YORK ( TheStreet) -- The traders of CNBC's "Fast Money" seem to be split on whether a major correction is coming for the U.S. stock market. On Tuesday, Rick Santelli, the new moderator of the show, said that the market's been stalling at nine-month highs. Guy Adami told viewers that a correction is definitely coming and that investors should be taking money off the table at current levels.

Joe Terranova is on the other side of the argument. He feels the rally will not stop until we get a major move higher with big volume. Tim Seymour said he would be surprised to see a pullback of more than 5%, but he also doesn't see the market going much higher without a significant catalyst entering the equation. Karen Finerman simply finds it amazing that the market seems to trade up on any news, whether it's positive or negative.

Jon Najarian pointed out to viewers during Wednesday's "Halftime Report" that options investors have been pushing up the volatility indices. He said that this is positive because it means that large investors are simply hedged, with the S&P 500 currently trading close to significant resistance. Scott Nations of NationShares thinks the S&P is overbought, but that doesn't necessarily mean that the market will fall dramatically. He said the markets might just move sideways for awhile.

The crew has recently highlighted trading ideas that play off a potential housing bottom, stocks to trade into a market correction and energy stocks. Here are some highlights from over the past week as aggregated from the show.

To read more, visit Stockpickr.com.

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