Trading the market's choppy ECB reaction

A choppy session for stocks Thursday left some "Fast Money" traders searching for stable plays.

U.S. markets rose to start the day after the European Central Bank announced it would cut its main interest rates and expand its bond-buying program. But stocks eventually fell as investors digested the news and a fall in oil prices, ending the day mostly lower.

In a low-rate environment, U.S. Treasurys look "pretty attractive," said trader Guy Adami. The yield on the benchmark U.S. 10-year note traded around 1.93 percent Thursday, rising after the ECB's decision.

Government bond markets sell off, bond rout continues German bund
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The U.S. dollar could also rise moving forward, argued trader Brian Kelly. He said he bought some of the currency on Thursday.

Still, the euro climbed against the dollar after the ECB move, briefly going higher than $1.12.

Trader Tim Seymour added that he would sell the iShares Russell 2000 ETF amid uncertainty, as small-cap stocks have outperformed larger names recently.

Disclosures:

Guy Adami

Guy Adami is long CELG, EXAS, GDX, INTC, Guy Adami's wife, Linda Snow, works at Merck.

Brian Kelly

Brian Kelly is long BBRY, Bitcoin, GLD, GLD puts, SH, SLV, TLT, US Dollar, UUP, Yen; he is short Aussie Dollar, BLK, British Pound, CS, DB, Euro, EWH, FRC, Hong Kong Dollar, UBS, SPY, Yuan, 5-Year Note Futures

Steve Grasso

Steve is Long AAPL, BA, CC, DD, DIS, DECK, EVGN, KBH, MJNA, MU, OLN, PFE, PHM, T, TWTR, GDX sold BAC firm is long OXY, BP, CVX, RIG, FCX kids own EFA, EFG, EWJ, IJR, SPY

Tim Seymour

Tim Seymour is long AAPL, AVP, BAC, BBRY, DO, F, FCX, GM, GOOGL, INTC, JCP, NKE, SINA, T, TWTR, VZ, XOM. Tim's firm is long BABA, BIDU, CLF, KO, MCD, PEP, PF, SAVE, SBUX, VALE, WMT,YHOO, short HYG, IWM.