'Fast Money' Recap: Confused Investors

NEW YORK ( TheStreet) --  The S&P 500 closed ever so slightly higher after a much lower-than-expected nonfarm payrolls report for December. 

Brian Kelly, founder of Brian Kelly Capital, said investors are definitely confused. He added that the Federal Reserve will still go through with its tapering plans and he remains short the S&P 500. 

Tim Seymour, managing partner of Triogem Asset Management, said gold is likely to sell off around Jan. 28 or Jan. 29 when the Fed confirms it will go through with its tapering plans. He would look to take profits in the iShares MSCI Emerging Markets ETF (EEM) at $40.25. 

Steve Grasso, director of institutional sales at Stuart Frankel, said the earnings from financial stocks next week are unlikely to cause a selloff in the market. However, he said a selloff could happen in February or March. 

Intercept Pharmaceuticals (ICPT) is up 517% over the past two days. Dr. Yaron Weber, who leads Citigroup's biotech research team, said ICPT's obeticholic acid was so successful in its treatment of the chronic liver disease nonalcoholic steatohepapatitis that its trials were stopped early. 

He added that even his own sales estimates are considered conservative if the drug comes to market. Currently, he predicts sales of roughly $4 billion, making ICPT a potential merger candidate. 

As for other biotech names, he likes Celgene (CELG), which will give guidance on Monday at the JPMorgan Healthcare Conference. Analysts expect $7.30 in earnings per share for the year, while Weber is looking for $7.60. He said Clovis Oncology (CLVS) is his top "under the radar" pick. Guy Adami, managing director of stockmonster.com, said his pick continues to be CELG. 

Target (TGT) announced its credit card data breach could now affect 110 million people because of the compromised names, addresses, phone numbers or email addresses. Adami said he's still a buyer of the stock with a stop-loss at $62.



Seymour said not to buy or sell short shares of Tesla Motors (TSLA). Shares are overvalued based on forward projections that the company will not be able to meet. Kelly disagreed. He likes TSLA at current levels, with support at $145.

Grasso said BlackBerry (BBRY) might be able to survive if it clings to its keyboard and security features. He said investors could stay long with an $8 stop-loss. 

George Barrios, chief strategy & financial officer of World Wrestling Entertainment (WWE), was a guest on the show. The company announced it would now have live streaming of its shows available online for $9.99 per month. The price is much cheaper than pay-per-view shows. Barrios said the move was intended to drive value for its viewers and fuel international expansion and not undercut its content partners. 

Seymour isn't buying the stock, saying it's moved up too far too fast for him to step in. 

Tiffany & Company (TIF) was the first company on the show's "Pops & Drops" segment. Seymour said TIF is a great global luxury brand and he is a buyer on any weakness. 

Alcoa (AA) slid 5% and Keller suggested investors sell the stock at $10.50. If you're long, he advised, wait for it to move back to $10.50 and sell it there. 

Abercrombie & Fitch (ANF) jumped 12% and Adami said to stay long with a stop-loss at $36. 

Chevron (CVX) fell 2% and Grasso said the stock looks likely to bounce. 

For their final trades, Seymour is buying Sina (SINA) and Kelly is a buyer of crude oil via the United States Oil ETF (USO). Adami said to buy Anadarko Petroleum (APC) and Grasso is buying Sap AP (SAP).

-- 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.