NEW YORK (TheStreet) -- The broader markets were able to end the week on a positive note.On CNBC's "Fast Money" TV show, Pete Najarian said he's raising cash and feels the market's move higher is only short-term. He also stressed that he's not bearish but he wants to lighten up his equity exposure. Tim Seymour said despite the historical weakness for equities in September, the month has been pretty good the past couple of years. He added that he would take some gains. Guy Adami said the recent strength in stocks is something to sell into. He added that he likes ConocoPhillips ( COP) near $66 and Exxon Mobil ( XOM) near $85. Steve Grasso said he sold his position in Tesla Motors ( TSLA) and will look to buy on a pullback, and is still long the iShares MSCI Emerging Markets ETF ( EEM). He added that the market seems to have baked in about $15 billion per month in tapering from the Federal Reserve. Gold had its worst week since June, but spiked near the end of the day on concerns over Syria. Grasso said that while the Fed does matter for gold, all the focus is on Syria right now. In other commodities, Adami said steel looks to have turned the corner, despite having a bad day on Friday. He added that U.S. Steel Corp. ( X) has formed a solid base. Seymour said the industrial side of the world is starting to accelerate and wants to be in three main industries: cyclical industrials, bulks and industrial metals. He added he expects four to six weeks of weakness, but thinks the fourth quarter will be strong. Mary Ann Bartels, CIO of portfolio strategies at Merrill Lynch, was a guest on the show and said she remains very bullish on equities, with a 1,750 year-end target for the S&P 500. She added that stocks have been impressively strong in the face of potential tapering and rising rates. Bartels likes the energy, technology and industrial sectors. Disney ( DIS) was the first stock on the show's "Pops & Drops" segment and Grasso said he would buy any weakness in the name.
Delta Air Lines ( DAL) jumped 13% for the week. Adami said the stock has been a monster, but suggested selling into the strength for those that have been long. Valero Energy ( VLO) fell 4% this week and Grasso said this would be a good name to buy for those that believe crude oil will head lower. Apple ( AAPL) fell 6% for the week. Najarian said there's just a lot of frustration among investors following the recent product launch. Najarian said he is thinking about reducing his Facebook ( FB) position because of the rapid move higher. He added that a lot of new capital will want in on the Twitter initial public offering, which has already monetized mobile, something Facebook did not do until after it went public. Seymour said the Chinese Internet stocks have been doing well and would stick with Sina ( SINA). Adami said if the Twitter IPO is successful, it could give a boost to all the other social media names. For their final trades, Najarian was a buyer of Intel ( INTC) and Grasso felt good about holding EEM and trimming other long positions. On the contrary, Seymour said to take profits in EEM and Adami said to buy Triangle Petroleum ( TPLM). -- Written by Bret Kenwell in Petoskey, Mich. Follow @BretKenwell Follow TheStreet.com on
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