'Fast Money' Recap: A Historic Week

NEW YORK (TheStreet) -- The broader markets pushed higher once again, wrapping up a historic week on Wall Street. 

Brian Kelly, founder of Brian Kelly Capital, said investors' major concerns were removed this week, but rising oil prices could hurt the rally in equities.

Guy Adami, managing director of stockmonster.com, said the true culprit to bring down the market has yet to present itself; so far, nothing has been able to stop the current bull market. He pointed out the big reversal in Treasury bonds on Friday as well. 

Shifting to shares of Target (TGT), Tim Seymour, managing partner of Triogem Asset Management, said investors should not buy TGT because of its slumping same-store sales and margin pressure.

Grasso added that the only reason he would buy TGT is because it's near the bottom of its trading range. He suggested investors buy Amazon (AMZN) instead. 

Adami said he liked TGT as a trade, not an investment. He suggested traders buy TGT with a stop at $62. 

Ben Baldanza, CEO and president of Spirit Airlines (SAVE), was a guest on the show. He said roughly 40% of his company's revenue come from fees and he wants that to climb to 50%. He added that the new "9/11 tax" could hurt sales and he disagreed with how the government plans to build the new flat tax-rate into air fares. 

Seymour said SAVE has solid operating leverage and is undervalued compared to its competitors. He also suggested Lan Airlines SA (LFL). 

Adami suggested Facebook (FB) still seems likely to trade down to $51.50, a level that investors should buy. 

BlackBerry (BBRY) soared on Friday's trading session despite less-than-flattering results. Adami said he would look to short the stock near $8. 

Seymour said he was not a buyer or a seller of the stock and Grasso said he was more inclined to buy rather than sell BBRY. 

Grasso said he is not yet a buyer of Tesla Motors (TSLA) but admitted its recent price action is impressive. 

For their final trades, Seymour is buying LFL and Grasso said to buy T-Mobile USA (TMUS). Kelly is selling Newmont Mining (NEM) and Adami said to buy the iShares 20+ Year Treasury Bond ETF (TLT).

-- Written by Bret Kenwell in Petoskey, Mich.

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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.

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