'Fast Money' Recap: Let Your Winning Trades Keep Running

NEW YORK (TheStreet) -- The S&P 500 and Dow Jones Industrial Average closed at all-time highs, the Dow up two points shy of 17,000. 

Brian Kelly, founder of Brian Kelly Capital, said investors can let their winning trades run, meaning they can stay long their positions that have been doing well as the market continues to grind higher. Specifically, he likes Southwest Airlines (LUV). 

Tim Seymour, managing partner of Triogem Asset Management, is looking to the energy space and is a buyer of drilling companies. 

Guy Adami, managing director of stockmonster.com, said refinery stocks can continue higher for now but are always susceptible to negative headlines. He also likes Delta Air Lines (DAL) and JetBlue Airways (JBLU). 

Dan Nathan, co-founder and editor of riskreversal.com, is a buyer of General Electric (GE), which has a good dividend yield and an attractive valuation. He said it seems likely to retest $28. 

Adami said investors are discounting shares of GE too much despite it moving into higher margin businesses. 

Carter Braxton Worth, chief market technician at Sterne Agee, looked at stocks that have underperformed the broader market and have "catchup potential." Specifically, he likes Cameron International (CAM) and Weyerhaeuser (WY). 

Kelly pointed out that falling lumber prices would be a positive for Weyerhaeuser. Seymour added that WY looks interesting on the long side. Adami said he would wait for WY to breakout over $33.50 before getting long.

Nathan said investors should hold off on buying shares of Pandora (P) right now because they are approaching strong resistance near $30. 

Kelly said Goldman Sachs' upgrade of Netflix (NFLX) has come a little too late, and pretty much reiterates the bullish points of which investors are already aware. It doesn't present anything new, he reasoned. 

Adami said traders can buy shares of Netflix at current levels and use $450 as a stop-loss. Investors who have been long can take profits, too, he added. Seymour said the valuation is too overpriced for him to buy the stock. 

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