NEW YORK (TheStreet) -- The broader market closed at session highs as tensions over Syria continue to ease.On CNBC's "Fast Money" TV show, Dan Nathan said a lot of high-risk names have been outperforming, indicating that the markets are in "risk-on" mode. He added that the S&P 500 needs to make new highs to continue the rally. Steve Grasso said the high-risk, high-beta names are doing well right now because hedge fund managers are chasing performance. He added that he is a seller on strength of coal and steel names. Karen Finerman said she doesn't want to sell her longs quite yet, but does feel like the bull run is getting a bit extended. Renee Haugerud said this rally is being driven by margin expansion, but also believes the S&P 500 is getting "toppy" in the 1,680 to 1,720 range. Overall, the market was disappointed with Apple's ( AAPL) recent announcements; the stock fell 5.5% on Wednesday. However, hedge fund manager Carl Icahn did say that he was buying the stock on Wednesday in the $465 to $470 range. Finerman said she is not using the weakness to add to her position. Grasso said the markets wants Apple to grow and make new products, not just buy back shares. He added that there's nothing exciting there anymore. Nathan noted the stock hit a very key technical level around $465, where the 50-day and 200-day moving averages are currently providing support. He added that there could be slightly more downside. Potash ( POT) was the first stock on the show's "Pops & Drops" segment and Grasso said he believes the potash cartel will return and he is long the stock. Pandora ( P) jumped 5% to a 52-week high. Nathan said the stock has some upside momentum. GNC Holdings ( GNC) was up 2%. Finerman said she likes the name, which has solid growth and good execution. Coffee popped 3% and Haugerud said the commodity is likely forming a bottom and thinks it could go higher. Netflix ( NFLX) dropped 1%. Mike Khouw cited a downgrade from BTIG as the reason.
Men's Wearhouse ( MW) plunged following its earnings report. Finerman said she expects Jos. A. Bank Clothiers ( JOSB) to also trade lower because of these results. At the TechCrunch Disrupt conference, Marissa Mayer, CEO of Yahoo! ( YHOO), said the site is getting 800 million monthly active users, without counting Tumblr, a recent acquisition. She continued to stress that the company is focusing on mobile and finding ways to expose its potential growth. Nathan said Yahoo! could break out with even the slightest fundamental improvement. Grasso said the stock could break out going into the Alibaba IPO. Yahoo! owns a stake in Alibaba. Thomas Flexner, global head of real estate at Citigroup ( C), was a guest on the show and said rising rates could be a threat to the real estate market. However, if the 10-year Treasury yields go to 4% or 4.5%, then it could really weigh on housing demand and the commercial real estate market. He added that as debt gets more expensive to obtain, demand will go down. For their final trades, Nathan was a buyer of General Electric ( GE) and Finerman said to buy Bank of America ( BAC). Haugerud was a buyer of coffee and Grasso said to trim long positions. -- Written by Bret Kenwell in Petoskey, Mich. Follow @BretKenwell Follow TheStreet.com on
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