'Fast Money' Recap: Should You Stay Long Stocks or Sell Now?

NEW YORK (TheStreet) -- After a week full of Federal Reserve statements and Greek drama, stocks still eked out a gain. The S&P 500 closed up 0.7% on the week despite falling on Friday. 

Investors who want to stay long stocks but are worried about a pullback should consider buying put options on the SPDR S&P 500 ETF (SPY). On CNBC's "Fast Money" TV show, Dan Nathan, co-founder and editor of riskreversal.com, explained these options are cheaply priced right now due to the low volatility in U.S. stocks, but will protect an investor's portfolio in the event of a pullback. 

Tim Seymour, managing partner of Triogem Asset Management, agreed that volatility in U.S. stocks is low, but made the point that volatility in Europe remains relatively high. Despite this, he is a buyer of the SDPR Euro Stoxx 50 ETF (FEZ). 

Guy Adami, managing director of stockmonster.com, also finds European stocks attractive. Specifically, he likes German equities and Deutsche Bank (BK), which has support near $28. 

With the euro approaching resistance, investors should consider selling the currency, Seymour added. He's a buyer of the ProShares UltraShort Euro ETF (EUO) and is also a buyer of the dollar via the PowerShares DB USD Bull ETF (UUP). 

After the Fed's latest statement, Steve Grasso, director of institutional sales at Stuart Frankel, believes it will try to keep downward pressure on the dollar as well as push bond yields lower too. This bodes well for utility stocks, he said. 

The conversation turned to high flying stocks Twitter (TWTR) and Ambarella (AMBA). Ambarella sank 6% on Friday following a bearish research report from Citron Research, which set a 12 month price target of $60, roughly 50% lower than today's current prices. 

Ambarella, which is most notable as a part supplier for GoPro (GPRO), has been red-hot all year, up 135% in 2015. Because of the rally, Adami says the stock can pullback to $100. However, he's a buyer of GoPro. 

Why take the risk after such a run? Grasso made the case that investors should take profits in Ambarella. Nathan agreed. However, the two disagreed when it came to Twitter, which climbed 3.5% on rumors that Google (GOOGL) is mulling buying the social media company. 

Grasso said the deal would probably climb upward towards $30 billion, significantly higher than Twitter's market cap of roughly $22 billion. While an acquisition from Google would make sense, he's unsure if management would be willing to pay that much for Twitter. 

Nathan argued any deal would have to be for at least $30 billion. With Twitter stock down more than 25% over the past three months, it wasn't all that long ago that Twitter had a market cap for $30 billion. So it's unlikely that investors would be willing to settle for such a low price.

Of course, Google may not make a play at all, which seems most likely to Seymour. However, with all of the positive catalysts going on Twitter, the stock seems like a buy near current levels. 

For their final trades, Grasso is buying PulteGroup (PHM) and Seymour is buying the FEZ ETF. Nathan said to buy put options on the SPY ETF and Adami is a buyer of Deutsche Bank. 

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This article is commentary by an independent contributor. At the time of publication, the author held no positions in the stocks mentioned.

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