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After Bernanke Bump, Buy the Dip

A few opportunities should arise after stock indices hit all-time highs on remarks from Federal Reserve Chairman Ben Bernanke, David Gerstenhaber of Argonaut Capital Management said Thursday.

"I think you have to buy the dip that you get out of the market at this point," he said on CNBC's "Fast Money."

"But what Bernanke did last night was important. He came on and he essentially said, 'Look, you guys have misunderstood what I've been trying to communicate to you.

"The tapering is not going to happen as powerfully and as quickly as we believe. We need to separate tapering from tightening. You need to understand that short-term interest rates aren't going up anytime soon.' And I think that's what the market took relief from."

(Read More: 'Debunking' a Fed Myth About Stocks)

Gerstenhaber said that signals that the Fed would continue its $85 billion-per-month asset purchases would through the end of 2015 presented a few opportunities.

He was bullish on euro/dollar futures and on equities.

And although U.S. Treasury bills had seen a sell-off, "we know that it's going to be higher in yield looking out a year than it is now," Gerstenhaber added. "Probably 100 basis points."

(Read More: Here's What's Bothering Ben Bernanke)

"The market priced in significant tightening earlier, and that really got the Fed quite upset, based on our understanding of what was going on down in Washington, and this was an opportunity for Bernanke to walk back that tightening, and he did, and you got a response out of the front end of the bond market this morning," he said.

Trader disclosure: On July 11, 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 MSFT; Guy Adami is long AGU; Guy Adami is long NUE; Guy Adami is long BTU; Guy Adami's wife, Linda Snow, works at Merck; Jon Najarian is long AAPL; Jon Najarian is long BAC; Jon Najarian is long JPM; Jon Najarian is long QCOM; Jon Najarian is long COP; Jon Najarian is long GLD ; Jon Najarian is long OC; Jon Najarian is long AA; Jon Najarian is long ITUB; Jon Najarian is long WYNN; Jon Najarian is long PAAS; Jon Najarian is long ABX; Jon Najarian is long TOL; Jon Najarian is long LEN; Jon Najarian is long TIBX; Jon Najarian is long TMO; Jon Najarian is short GLD puts; Karen Finerman is long AAPL; Karen Finerman is long BAC; Karen Finerman is long C; Karen Finerman is long JPM; Karen Finerman is long TGT; Karen Finerman is long GOOG; Karen Finerman is long PLCE; Karen Finerman is long M; Karen Finerman is long SPY; Karen Finerman is long MDY PUTS ; Karen Finerman is long HRB; Karen Finerman is long MARTINE; Tim Seymour is long C; Tim Seymour is long AAPL; Tim Seymour is long SBUX.

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