'Fast Money' Recap: Greece Is the Word for Investors

NEW YORK (TheStreet) -- U.S. stocks started the week strong, with the S&P 500 climbing 0.61% on hopes a Greek debt deal is within reach. 

Whatever happens with Greece -- either a default or a deal -- seems already priced into stocks, Guy Adami, managing director of stockmonster.com, said on CNBC's "Fast Money" TV show. As far as stocks go, he still likes Deutsche Bank (DB), which rallied 3.9% on the day. 

Pete Najarian, co-founder of optionmonster.com and trademonster.com, also likes the German bank. However, Najarian likes the U.S. banks even more, noting the sector's strong performance on Monday, led by Goldman Sachs (GS), JPMorgan Chase  (JPM) and Citigroup (C). 

Steve Grasso, director of institutional sales at Stuart Frankel, doesn't think any Greek outcome is priced in and said the S&P 500 remains rangebound and could still move significantly in either direction. 

Tim Seymour, managing partner of Triogem Asset Management, said a Greek deal could spur a significant rally in European stocks. He likes the SPDR Euro 50 Stoxx ETF (FEZ), along with European banks. The Global X FTSE Greece 20 ETF (GREK) will also rally on a deal. He would sell the euro via the ProShares UltraShort Euro ETF (EUO) and buy the U.S. dollar.

Dennis Gartman, editor and publisher of The Gartman Letter is also selling the euro and said the dollar is headed higher. Investors can also buy German, French and Italian stocks. Gartman said a Greek deal seems likely to get done, which is "very good" for Germany and "terrible" for Greece, because Germany needs the euro to stay lower to help its exporting businesses. 

The euro would become "demonstrably more expensive" without Greece, he explained. As for oil prices, he says the commodity seems likely to head lower, with resistance near $65. His price range is between $45 to $55. 

The conversation turned to Facebook (FB) after Piper Jaffray's Gene Munster increased his price target from $92 to $120 earlier Monday. Facebook's Instragram property, buy button for advertisers, and video ads are crushing it right now, Najarian said. The stock is also trading well. Adami said the stock looks likely to "blow right through" $85, a level of resistance for the past several months.

Seymour is bullish, explaining that the company's collection of different assets including WhatsApp and Facebook Messenger are starting to pay off. 

Netflix (NFLX) also received a big upgrade on Monday from Rich Greenfield, media and tech analyst at BTIG Research, who gave it lapped a $950 price target.

Netflix continues to put out high-quality content, whether is acquired content, such as Friends, or original content, like Orange is the New Black. Because of its superior quality, there is less subscriber churn, said Greenfield. As a result of the lower churn, subscriber growth in the U.S. continues to gain momentum and the company can more easily justify a price hike without receiving an uproar from its customers. 

Greenfield said he is confident the company will seize overseas opportunities as well. There's "tremendous" potential in Latin America as well as Japan, he said. Netflix looks very well positioned for the next three to five years, even as competitors like Amazon (AMZN) are doing a great job at streaming video, too. 

Netflix has been a great performer, but after rallying 97.5% on the year investors would be "crazy" to buy the stock at current prices, Seymour said.

For their final trades, Seymour is buying the iShares MSCI Brazil Capped ETF (EWZ) and Najarian is a buyer of United Parcel Service (UPS). Adami said to buy Facebook and Grasso is buying Fitbit (FIT) with a stop-loss at $35. 

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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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