NEW YORK (TheStreet) -- On Tuesday, the Dow Jones Industrial Average closed above 18,000 for the first time, but it left some investors wondering if there are any values left in the market. "Some parts of the market still have value," Tim Seymour, managing partner of Triogem Asset Management, said on CNBC's "Fast Money" TV show.
Industries that benefit from lower gas prices, such as consumer-oriented stocks, could outperform in 2015, Seymour said. He called commodities a "value trap" and likes German and French equities on the long side because Europe will also benefit from lower oil prices.
Some stocks seem expensive, like Twitter (TWTR) , while some seem really cheap, such as banks, said Karen Finerman, president of Metropolitan Capital Advisors. Investors just need to be pickier about which stocks they buy.
It's still not time to get long commodities or emerging markets, according to Steve Grasso, director of institutional sales at Stuart Frankel. For the time being, U.S. equities continue to be the best investment, but that may change in 2015 once the Federal Reserve raises interest rates.
The iShares Russell 2000 ETF (IWM) is bumping into previous resistance near $121, Grasso added. If investors feel like the market is running out of steam, they could short the exchange-traded fund with a stop-loss near $120.97. If the ETF does correct, it could decline to $116 and possibly to $103.
Transport stocks may be slightly overvalued, said Guy Adami, managing director of stockmonster.com. However, Treasury bonds traded poorly, which may suggest a bullish outlook on equities going forward.
The conversation turned to Alibaba (BABA) . Mark Mahaney, an analyst at RBC Capital Markets, said the stock seems to have temporarily topped out near $120. He has an outperform rating on the stock with a $130 price target.
Over the next 12 months it still seems likely that shares of Alibaba will climb to $130, Mahaney said. Internet initial public offerings tend to be volatile for the first six to 12 months. The company has done a great job growing mobile revenue and will, he hopes, continue to grow those revenue.