NEW YORK (TheStreet) -- The S&P 500 slid 0.60% on Friday and WTI crude oil fell 0.66%.
On CNBC's "Fast Money" TV show, Pete Najarian, co-founder of optionmonster.com and trademonster.com, said investors are rotating out of outperforming sectors and into underperforming sectors such as financials.
Tim Seymour, managing partner of Triogem Asset Management, said bank stocks and online brokerage stocks are two solid investments for exposure to climbing interest rates. The Federal Reserve's meeting next week could come across more hawkish than previously anticipated.
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Brian Kelly, founder of Brian Kelly Capital, said it concerns him the market is not rallying despite the strong labor market, temporary peace between Russia and Ukraine and easing monetary policies from Japan and Europe. The Russell 2000 should be performing better too, he added.
Guy Adami, managing director of stockmonster.com, said there are several conflicting situations going on: The stock market is selling off while financials break out toward new highs and the iShares Russell 2000 ETF (IWM) is breaking lower while the Dow Transports are still near all-time highs. The IWM seems likely to decline to $108, he said.
Seymour said WTI crude oil and refining stocks seem likely to decline even further. Cheaper gasoline is better for the consumer.
The trading panel was asked for their "Dash To Trash" trade:
Seymour is a buyer of Target (TGT) , of which he says investors' expectations are "too low." The company is improving margins and the stock is worth owning. Kelly agreed. Najarian said Target should resume buying back stock soon, while shares seem likely to go back toward $70 by the end of 2014.
For Kelly's "Dash To Trash" trade, he is buying a basket of 3-D printing stocks, including Stratasys (SSYS) , 3D Systems (DDD) and ExOne (XONE) . It'll be a volatile position but he wants exposure to the industry over the next one to two years.
Najarian's "Dash To Trash" trade is to buy Coach (COH) . The stock has been slammed but on a P/E basis, has become too cheap.
Adami's "Dash To Trash" trade is a long position in Alpha Natural Resources (ANR) , which may see some upside action next week.