NEW YORK (TheStreet) -- Investors should stick with the trades that have been working, Dan Nathan, co-founder and editor of riskreversal.com, said Thursday ahead of the November non-farm payrolls report to be released Friday.
On CNBC's "Fast Money" TV show, he said investors can stay long Micron (MU) , Microsoft (MSFT) and Intel (INTC) . However, he did admit that the lack of volatility in the S&P 500 has him somewhat nervous.
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Brian Kelly, founder of Brian Kelly Capital, bought put options on the SPDR S&P 500 ETF (SPY) to protect against a decline. If the labor report comes in too light then the market will likely sell off. But if it comes in too strong, then investors may start to worry about an earlier-than-expected rate hike from the Federal Reserve, causing a selloff as well.
Investors who are worried about a decline in the stock market can buy the volatility index, said Karen Finerman, president of Metropolitan Capital Advisors. She expects the jobs report to be good.
Visa (V) and MasterCard (MA) have traded really well lately, according to Guy Adami, managing director of stockmonster.com. Transaction volumes continue to climb, as do margins, he added. The S&P 500 seems likely to continue higher.
One asset not moving higher is crude oil, which fell 0.96% on Thursday. Oil prices are also thought to be weighing on shares of Tesla Motors (TSLA) . Nathan said investors should wait for the stock to decline to $200 before getting long, since the stock seems likely to head lower.
Investors can stay long with a stop-loss at $225, Adami said. If that level breaks, wait for a potential decline to $180 to buy. Kelly added that he would "buy with both hands" if the shares of Tesla declined to $200.
Oil prices shouldn't hit the stock because consumers don't buy the company's vehicles for the gas savings, argued Colin Rusch, senior analyst at Northland Capital Markets. He has a buy rating on the stock with a $298 price target.
And while many investors look at Tesla as just an automaker, there's more to the story, he said. The company could ultimately start to sell power and power services. There's a lot of synergy potentials with solar companies, too, especially with its Gigafactory, Rusch said.
One possible solar partner is SolarCity (SCTY) . Tesla Motors' CEO Elon Musk serves as chairman of SolarCity, while his cousin Lyndon Rive is the co-founder and CEO. He was a guest on the show.
However, Rive was focused more electricity prices. Oil prices have "almost zero affect on the price of electricity" in the U.S. and oil itself generates less than 5% of the world's electricity, he said. So it makes very little sense for solar stocks to selloff with oil prices.
Furthermore, when natural gas prices suffered a nasty selloff a few years ago, the cost of electricity actually went higher. Rive explained that the infrastructure and distribution costs the most, not the actual fuel. Smart investors should use the recent selloff in solar as a buying opportunity.
Shares of SolarCity have "really good support" at $50, Kelly said. If investors believe in the story, they should buy the stock at current levels. Adami agreed, adding that the weakness in oil is presenting investors with a buying opportunity in the solar industry.
For their final trades, Nathan is selling United Airlines (UAL) and Finerman is buying SunEdison (SUNE) . Kelly said to buy put options on the SPDR S&P 500 ETF and Adami is a buyer of Smith & Wesson (SWHC) .
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