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‘Definitely Some Confidence’ in Market: Najarian

Monday, 1 Apr 2013 | 6:04 PM ET
'Definitely Some Confidence' in Market: Najarian
Monday, 1 Apr 2013 | 5:00 PM ET
New all-time highs in some stocks suggest that investors don't have much fear right now, OptionMonster's Pete Najarian says.

New all-time highs in some stocks suggest that investors don't have much fear right now, OptionMonster's Pete Najarian said Monday.

On CNBC's "Fast Money," Najarian noted that stocks were up in financials, industrials and utilities, even amid a broader decline in the market.

"In other words, people aren't necessarily in fear of anything right now as far as the market getting the rug pulled out, at any kind of a regard at this point in time, but when you look at the markets, people definitely have some confidence," he said.

Stuart Frankel's Steve Grasso noted that high-fliers, such as Google, Apple and Amazon.com, saw sell-offs.

"Those are the names that are pulling back first," he added.

Karen Finerman of Metropolitan Capital Advisors said Realogy looked interesting but not quite a "buy" ahead of a lockup period expires next week.

Finerman added that she was looking at financials, particularly Bank of America closer to $12 per share.

"I feel like the financials have already pulled back already the last month or so," she said.

Trader disclosure: On April 1, 2013, the following stocks and commodities mentioned or intended to be mentioned on CNBC's "Fast Money" were owned by the "Fast Money" traders: Guy Adami is long C; Guy Adami is long GS; Guy Adami is long INTC; Guy Adami is long AGU; Guy Adami is long MSFT; Guy Adami is long NUE; Guy Adami is long BTU; Steve Grasso is long AAPL; Steve Grasso is long ASTM; Steve Grasso is long BA; Steve Grasso is long BAC; Steve Grasso is long GOOG; Steve Grasso is long GDX; Steve Grasso is long HPQ; Steve Grasso is long LF; Steve Grasso is long LNG; Steve Grasso is long MHY; Steve Grasso is long MU ; Steve Grasso is long PXD; Steve Grasso is long NVIV; Steve Grasso is long PFE; Steve Grasso is long S; Steve Grasso is long VLO; Karen Finerman is long AAPL; Karen Finerman is long BAC; Karen Finerman is long JPM; Karen Finerman is long WMT; Karen Finerman is long TGT; Karen Finerman is long MSFT; Karen Finerman is long GOOG; Karen Finerman is short SPY; Karen Finerman is short IWM; Pete Najarian is long AAPL; Pete Najarian is long BBRY; Pete Najarian is long SBUX; Pete Najarian is long FB; Pete Najarian is long MSFT; Pete Najarian is long AMZN CALLS; Pete Najarian is long OKE CALLS; Pete Najarian is long PFE; Pete Najarian is long MRK; Pete Najarian is long BMY.

  Price   Change %Change
S&P 500
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GOOGL
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AAPL
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AMZN
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BAC
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  • Melissa Lee is the host of CNBC's “Fast Money” and “Options Action.”

  • Scott Wapner is host of the "Fast Money Halftime Report," which airs weekdays from 12 p.m. to 1 p.m. ET.

  • Guy Adami is a contributor on CNBC's "Fast Money." He also is managing director of stockMONSTER.com.

  • Najarian, the "Pit Boss," is cofounder of optionMONSTER.com, a news site for options traders.

  • Finerman is president of Metropolitan Capital Advisors, Inc., a company she co-founded.

  • Founder of EmergingMoney.com

  • Chief Market Strategist for Virtus Investment Partners & CNBC Contributor

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