After a rapid rise in 10-year Treasury yields and the likelihood that the Federal Reserve will soon begin to taper its bond buying, CNBC's Jim Cramer is cautioning about a group of stocks that could kill your portfolio.

"This was a spike that frankly took my breath away, and that's one of the reasons that markets reversed intraday," he said Wednesday. "If you don't talk about fixed income, you don't understand why some stocks—particularly utilities—have turned into death traps."

Buyers jumped into Ford Motor early yesterday, betting that it still has fuel in the tank.

Option activity has been red hot in the auto maker, with more than 140,000 calls trading yesterday against fewer than 35,000 puts. The 15.50 weekly calls expiring this Friday led out of the gate and remained active all session, with contracts going for $0.08, $0.09, and $0.11. More than 18,000 of those traded in volume far above the previous open interest of 1,751 contracts, indicating new positions, according to OptionMonster's tracking systems.

Calls lock in the purchase price for the stock, which is already up 12 percent in the last month, and they can generate some nice leverage if it keeps running. Because these options expire at the end of this week, the traders are clearly banking on a quick move.

I want to short Netflix, but I can't.

On paper, it's one of the best short candidates you will find. Netflix has almost everything a short-seller could ask for.

Netflix is well-liked, which tends to propel some stocks higher, because of "less than intelligent" money confusing a fantastic product with a compelling investment thesis. Buying shares merely because you like a product is one of the quickest ways to lose money.

Some traders think that Office Depot is ready for blastoff.

OptionMonster's monitoring programs detected the purchase of some 2,400 June 4.50 calls for $0.10. Volume was more than 60 times previous open interest, indicating that new positions were initiated.

Calls lock in the price where shares can be purchased in the office-supply retailer. That can provide significant leverage in a rally, while limiting the amount of capital at risk.

Telecom reform in Mexico—set to introduce competition—will not necessarily end the dominance of the two big players.

"We expect that the Mexican telecommunications market will continue to be dominated by America Movil and Grupo Televisa, the major competitors in the residential business in Mexico," Moody's senior analyst Nymia Almeida said in a statement.

The reform aims at leveling the playing field of the telecom industry in Mexico by giving a newly formed regulator the power to crack down on monopolistic practices and keep companies from controlling more than half the market.

Famous consumer advocate and former presidential candidate Ralph Nader has renewed his efforts on behalf of common shareholders of bailed out mortgage giants Fannie Mae and Freddie Mac.

In a Wall Street Journal op-ed, Nader argues that the government treated shareholders of the government-sponsored enterprises or GSEs unfairly when it placed the agencies in conservatorship in 2008. Nader made a similar case in the newspaper in 2011.

Fortress Investment pulled back yesterday, and the bulls piled in.

OptionMonster's trade scanners detected the purchase of 2,200 September 6 calls for $1.25 to $1.40. The volume exceeded the strike's previous open interest of 1,438 contracts, indicating that new positions were implemented.

The investor now has the right to buy shares in the hedge-fund/private-equity company for $6 through expiration. The cheapness of the calls relative to the stock limits the amount of capital at risk and creates the possibility of significant leverage in the event of a rally. For instance, a 25 percent gain would more than double the value of the options.

Cloud-computing stocks have been active recently, and yesterday the bulls turned to data-warehousing company Teradata.

OptionMonster's tracking systems detected an early volume spike in the June 60 calls, with large blocks crossing for $0.80 and $0.85. Those contracts lock in the price where the stock can be purchased, which can result in some nice leverage in the event of a rally.

2013 is turning out to be a pretty good year for Warren Buffett. Year-to-date, the octogenarian billionaire has seen his firm, Berkshire Hathaway, rally more than 25.6 percent. That's almost double the returns that investors have gotten from the broad market over that same period.

And a lot of that upside in Berkshire's price has to do with Buffett's $85 billion stock portfolio.

The S&P 500 "suffered" the biggest correction of the month in Wednesday's session, dropping 0.83 percent to close at 1,655 and change. Then again, anyone who thinks that an 83-basis-point dip in the S&P counts as a correction probably only started trading on May 1.

Mr. Market has been on a breakneck pace this month, racking up total returns of 4.8 percent since the calendar flipped over to May. Even factoring in Wednesday's dip, that's an annualized 126 percent pace for stocks.