Market Melt-Up?

The bull market turns 1 next week, and despite what the skeptics say, the bull looked rather healthy on Friday.

In fact the S&P is now positive for 2010 and the Nasdaq soared to its highest close in 18 months largely buoyed by a jobs reports that wasn’t nearly as bad as expected.

According to the latest data, employers cut 36,000 jobs last month, better than the 50,000 cuts forecast.

And the unemployment rate held steady at 9.7 percent. Economists were expecting it to rise to 9.8 percent.

The Labor Department's monthly report is widely seen as the most important economic indicator because employment is considered a key ingredient for a strong, sustained recovery.

How should you be positioned now?

It feels to me that we’re entering a market melt-up, says Gary Kaminky. I think right now all money managers care about is not underperforming the S&P on a relative basis.

I agree with that, says Tim Seymour. I think there’s a lot of money on the sidelines and money managers are under invested. That could drive stocks higher.

I also think M&A speculation is driving the market, muses Pete Najarian. The options action in Nuance, for example, screams that somebody thinks the company is in play.

I wouldn’t chase Nuance, adds Karen Finerman, but the action is bullish because it suggest the environment is growing more hospitable to M&A.

And deals create more deals, adds Gary Kaminksy.

Elsewhere in the market, I consider the action in Allergan and Intuitive Surgical as economic barometers, says Pete Najarian It suggests to me that hospitals are able to spend.

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BULL IS BACK: APPLE

Bull market leader Apple exploded higher on Friday, leading all tech companies higher.

The move was largely triggered by news that the iPad would go on sale in the US on April 3rd.

The tablet device, has a touch screen that is 9.7 inches diagonally and can be used for watching videos, browsing the Web and reading electronic books.

The gadget costs:
16 gigabytes of storage - $499
32 gigabytes - $599
64 gigabytes - $699

What’s the tech trade?

If you’re looking for a derivative trade it’s Akamai , says Pete Najarian. They provide the data delivery for Apple as well as others.

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BULL IS BACK: OIL

Meanwhile, the price of crude oil closed higher on Friday along with most other commodities. Investors widely considered the action to be bullish bets on the global economy.

What’s the trade?

I wouldn’t run into commodities and buy, buy, buy, says Brian Kelly. I’m just too skeptical of the fundamentals which don’t seem to add up.




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Trader disclosure: On March 5, 2010, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Grasso Owns (TSO), (AAPL), (ABK), (ASTM), (BA), (BAC), (BGP), (C), (COST), (CSCO), (PFE), (PRST), (V), (WMT), (FAZ); Nations Owns (MSFT), (SPY); Edwards Owns (AAPL) For Clients; Edwards Owns (GLD) For Clients; Edwards Owns (SPY) For Clients; Edwards Owns (QQQQ) For Clients; Edwards Owns (MSFT) For Clients; Edwards Owns (GOOG) For Clients; Edwards Owns (GS) For Clients ; Jon Najarian Owns (AAPL), (AAPL) Call Spreads; Jon Najarian Owns (GS), (PCX); Pete Najarian Owns (BAC) Call Spread; Pete Najarian Owns (TEX) Calls; Pete Najarian Owns (CEPH) Call Spread; Pete Najarian Owns (AKAM) Call Spread; Finerman's Firm Is Short (IJR), (MDY), (IYR), (SPY), (IWM), (UNG), (USO); Finerman's Firm Is Long S&P Puts; Finerman Owns (AAPL); Finerman's Firm Owns (BAC), (BAC) Leaps; Finerman Owns (BAC) Preferred, (BAC); Finerman's Firm And Finerman Own (GOOG); Finerman's Firm Owns (WFC) Preferred; Kelly Owns (ELX) Calls; Kelly Owns (AMZN) Calls; Seymour Owns (CHL), (TSO)

For Tim Seymour
Seygem Asset Management Owns (CBD)

For Brian Kelly
Kanundrum Capital Owns (C)
Kanundrum Capital Owns (JPM)
Kanundrum Capital Owns (IPI)
Kanundrum Capital Owns (POT)
Kanundrum Capital Owns (MOS)
Kanundrum Capital Owns (EZU) Puts
Kanundrum Capital Is Long U.S. Dollar
Kanundrum Capital Is Short Copper
Kanundrum Capital Is Short (FCX)
Kanundrum Capital Is Short (GS)
Kanundrum Capital Is Short (JWN)
Kanundrum Capital Is Short T-Notes
Kanundrum Capital Is Short Yen
Kanundrum Capital Is Short Euro
Kanundrum Capital Is Short Pound
Kanundrum Capital Is Short Swiss Franc
Kanundrum Capital Is Short (SLX)

For Doug Kass
Kass's Fund Is Short (BEN)
Kass's Fund Is Short (TROW)
Kass's Fund Is Short (AB)
Kass's Fund Is Short (JNS)

For Charles Kantor
Neuberger Berman Owns More Than 1% Of (AMT)
Neuberger Berman Owns More Than 1% Of (BIP)
Kantor Or A Family Member Owns (BIP)

For Mike Khouw
Cantor Fitzgerald & Co. Is A Market Maker In (JPM)

For Steve Grasso
Stuart Frankel & Co. Inc. And Its Partners Own (ABK)
Stuart Frankel & Co. Inc. And Its Partners Own (CUBA)
Stuart Frankel & Co. Inc. And Its Partners Own (GERN)
Stuart Frankel & Co. Inc. And Its Partners Own (GLG)
Stuart Frankel & Co. Inc. And Its Partners Own (HSPO)
Stuart Frankel & Co. Inc. And Its Partners Own (NWS.A)
Stuart Frankel & Co. Inc. And Its Partners Own (NXST)
Stuart Frankel & Co. Inc. And Its Partners Own (NYX)
Stuart Frankel & Co. Inc. And Its Partners Own (PDE)
Stuart Frankel & Co. Inc. And Its Partners Own (PRST)
Stuart Frankel & Co. Inc. And Its Partners Own (RDC)
Stuart Frankel & Co. Inc. And Its Partners Own (TLM)
Stuart Frankel & Co. Inc. And Its Partners Own (TOL)
Stuart Frankel & Co. Inc. And Its Partners Own (XRX)
Stuart Frankel & Co. Inc. And Its Partners Own (SDS)
Stuart Frankel & Co. Inc. And Its Partners Are Short (QQQQ)
Stuart Frankel & Co. Inc. And Its Partners Are Short (CL)




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