On CNBC's "Fast Money" TV show, the trading panel gave their analysis of the overall market.
Brian Kelly, founder of Brian Kelly Capital, said the economic news from this week was mostly positive. He said investors should stay long U.S. equities.
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Tim Seymour, managing partner of Triogem Asset Management, said that although the non-farm payrolls report did not look that impressive at first, it did show wage growth. Overall, it is a strong period for the labor market and he is a buyer of equities.
Pete Najarian, co-founder of optionmonster.com and trademonster.com, said that between bonds and stocks, he is a buyer of the latter. Specifically, he likes large-cap pharmaceutical and large-cap technology stocks.
Guy Adami, managing director of stockmonster.com, said the TLT has done very well this year, up almost 15%, but has done very poorly over the past week. If rates move higher, the exchange-traded fund is likely to decline even further.
Walter Piecyk, managing director at BTIG, said Apple (AAPL) investors' expectations seem more in line with reality this year than they were last year when everyone expected a lower-priced iPhone for emerging markets. There seems to be less risk in the stock price because of the more realistic expectations, he reasoned. Of course, if the products are terrible, then the stock is likely to decline.
Adami said he wants to buy shares of Apple near $88. "We'll see how it trades" following its Sept. 9 event, he said.
Seymour said Apple is much different than it was in 2012 due to its share repurchase program, dividend and focus on software and services. He is a buyer on weakness. Najarian is long and looking for the stock to climb over $105.
Alibaba is scheduled to begin trading on Sept. 19. Seymour said Chinese Internet stocks could see some profit taking ahead of the event but he is a buyer of Baidu (BIDU) if it pulls back. He also suggested that Yahoo! (YHOO) could climb to $45.