NEW YORK (TheStreet) -- The S&P 500 rallied late in the trading session and closed at a new all-time high, finishing the day up 0.13%. 

On CNBC's "Fast Money" TV show, the trading panel took a look the move higher in oil and gold. 

Tim Seymour, managing partner of Triogem Asset Management, said gold is still in a bear market and will hit $1,200 per ounce before the end of 2014. He added that Treasury yields are likely to move higher but won't break out over 3%. 

Guy Adami, managing director of, agreed with Seymour that gold prices are likely headed higher. However, he said the current rally can continue higher for a little while. He suggested that interest rates are headed lower. 

Jon Najarian, co-founder of and, said the rally in gold is likely to fizzle out soon, especially after short-sellers finish covering their positions, (which "squeezes" the price higher). He added that the increasing spread between brent crude oil and WTI crude oil will benefit refiners like HollyFrontier (HFC - Get Report), Marathon Petroleum (MPC - Get Report) and Western Refining (WNR). 

Seymour added that Tesoro (TSO) is likely to move higher as well, while Adami liked ConocoPhillips (COP - Get Report), saying it could move up to $90. 

Karen Finerman, president of Metropolitan Capital Advisors, called the big after-hours drop in shares of Oracle (ORCL - Get Report) too "extreme" following the company's earnings report. 

Seymour said he is a buyer of ORCL based on its valuation and dividend. 

Najarian said he will start accumulating shares of Oracle near $39. 

Adami said Oracle's earnings report wasn't that bad. He reasoned that the stock could trade up to $45 in a few weeks.

BlackBerry (BBRY) surprised investors with a top- and bottom-line earnings beat, causing the shares to rally 10%. Mark Sue, tech analyst at RBC Capital Markets, has a hold rating on shares of BlackBerry but bumped his price target to $12. 

He said the large short-interest in the stock is likely driving the share price higher, especially in light of the company's improved balance sheet. The company has had plenty of rough quarters in the past but there appears to be light at the end of the tunnel, he reasoned. BlackBerry needs to continue selling handsets and make money from BlackBerry Messenger. 

Adami said the company "seems to be living on borrowed time," but he did not want to be involved with the stock, (either long or short). 

Finerman was not a buyer of Family Dollar Stores (FDO), based on its valuation. 

Shares of Coach (COH) sank 9% following a lackluster investor day. Corinna Freedman, footwear, apparel and accessories analyst at Wedbush, said the company's 2015 guidance was weaker than expected and earnings per share could fall below $2, by her own estimates. She added that Coach is an unlikely takeover target and its turnaround story has hope, but will take a long time. 

Finerman, who was short coming into the investor day, said the stock is getting near value territory but is not quite buyable yet because the company has no foreseeable catalysts. 

In a quick game of "Would You Rather?," the traders had to chose between buying shares of Coach or shares of Michael Kors (KORS). 

Najarian and Finerman were buyers of Coach, while Adami and Seymour were buying Michael Kors, although they both admitted the valuation was expensive. 

Adami said investors could buy shares of Harley-Davidson (HOG - Get Report), which has a reasonable valuation, strong shipments and an iconic brand. 

Netflix (NFLX - Get Report) revealed that Chelsea Handler will have comedy specials in 2015 and regular shows in 2016 on is platform. Najarian said this news is great but unlikely to affect the stock much, since the timing is far off.

Mark Dankberg, chairman and CEO of ViaSat (VSAT - Get Report), said that many customers do not think of satellite when choosing high-speed Internet but it is actually a viable, quality option. The company's goal is grow its user base and focus on those who currently use 3G, 4G or a DSL connection at home. The company has been focused on improving customer value, which appears to be working he said, based on higher average revenue per customer. 

Seymour said the company has a lot of opportunities but also a lot of competition. He is not a buyer at current levels. Adami called shares of VSAT volatile but "not ridiculously expensive." He said investors who want to get long, should do so soon. 

Celgene (CELG - Get Report) climbed 4% and was the first stock on the show's "Pops & Drops" segment. Adami said the stock will go higher and take out its all-time high near $175. 

Trulia (TRLA) fell 3%. Finerman said the stock is not yet cheap enough for investors to get long. 

Starbucks (SBUX - Get Report) jumped 2%. Seymour said he is "staying long."

Facebook (FB - Get Report) dropped 2%. Najarian said the company's Web site crashed Wednesday night, which is likely why some investors decided to take profits on Thursday. 

Apoorva Mehta, founder and CEO of food delivery company, Instacart, said the company has no inventory, warehouses or trucks. Instead, customers buy the groceries they want, and one of Instacart's "thousands of shoppers" will pick out the items and then deliver them to the customer within one hour. 

Instacart customers can also chose a delivery time later in the day. Shoppers receive their compensation via commission, he said. The company's four largest customer groups are young professionals, office managers, mothers and elderly and/or disable people. He reasoned that smartphones have made it much more possible for customers to use the company's platform. 

Najarian pointed out the bullish options activity in Assured Guaranty (AGO - Get Report), specifically in the October $27 calls. He is long these options as well. 

For their final trades, Najarian is buying W.R. Grace (GRA - Get Report) and Finerman is covering half of her short position in shares of COH. Seymour said to buy ORCL and Adami is a buyer of Chicago Bridge and Iron (CBI).

-- 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.