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'Fast' Traders: 4 Stocks to Watch

Stocks started the quarter with a bang, as jobs news gave investors more confidence in the U.S. recovery. After having posted the best first quarter percentage gain since 1999, the Dow on Friday soared to a new high for the year.

While most stocks gained, some struggled. By midday trading, the "Fast Money" traders were watching these market movers.

Avalon Rare Metals (AVL) popped 4.5%: There was "unbelievable" volumes both in the options and the stock, trader Jon Najarian said. Those trading this name think there's a lot of upside to come, he added.

Alexander & Baldwin (ALEX) popped 18%: Bill Ackman’s Pershing Square took a 9.9 percent stake in the ocean transport company. Trutina Financial's Patty Edwards said shipping companies are coming through really well on her models, but she would play TAL International Group.

Office Depot (ODP) dropped 14%: Shares plunged after the office supply retailer said it will restate its finances for 2010. Steve Grasso of Stuart Frankel said he's tempted to buy on this dip, but doesn't like that it has to restate it's finances. He's going to stay away.

Krispy Kreme (KKD) dropped 17%: The doughnut maker posted disappointing fourth quarter results that showed a loss of $1.5 million or 2 cents a share. Analysts were originally expecting a profit of nearly 4 cents a share. Brian Kelly of Kanundrum Capital would get out of this name.

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JOE SALUZZI: NASDAQ/ICE BID FOR NYSE NOT A MONOPOLY

Market expert Joe Saluzzi demystified high frequency trading for the world on "60 Minutes." He appeared on "Fast Money" to give us his analysis of the Nasdaq/ICE bid for the NYSE.

Watch the video to see the full conversation.

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MONEY IN MOTION: CURRENCY TRADE

The "Fast Money" traders on Thursday weighed in how to trade a rising dollar with Rebecca Patterson of J.P. Morgan Private Bank.

Watch the full interview here.

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Trader disclosure: On April 1, 2011, 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 (AMD); Grasso Owns (ASTM); Grasso Owns (BAC); Grasso Owns (BAC); Grasso Owns (C); Grasso Owns (CSCO); Grasso Owns (D); Grasso Owns (JPM); Grasso Owns (LIT); Grasso Owns (LPX); Grasso Owns (MHY); Grasso Owns (MU); Grasso Owns (NDAQ); Grasso Owns (PFE); Grasso Owns (PRST); Najarian owns (GE); Najarian owns (AAPL); Najarian owns (TCK); Najarian owns (CITI); Najarian owns (MS); Najarian owns (AKAM); Najarian owns (HPQ); Najarian owns (HK); Najarian owns (HIG); Najarian owns (KEY); Najarian owns (RSX); Najarian is long (AVL) calls; Najarian is long (CNX) calls; Najarian is long (ADM) calls; Najarian is long (EWZ) calls; Najarian is long (DLTR) calls; Najarian is long (HUN) calls; Najarian is long (NTAP) calls; Najarian is long (RIMM) calls; Najarian is long (XLF) calls; Najarian is long (AKS) calls; Najarian is long (BIG) calls

For Steve Grasso
Stuart Frankel & Co and it's partners own (CSCO)
Stuart Frankel & Co and it's partners own (CUBA)
Stuart Frankel & Co and it's partners own (GERN)
Stuart Frankel & Co and it's partners own (HPQ)
Stuart Frankel & Co and it's partners own (MSFT)
Stuart Frankel & Co and it's partners own (NYX)
Stuart Frankel & Co and it's partners own (PFE)
Stuart Frankel & Co and it's partners own (PRST)
Stuart Frankel & Co and it's partners own (SDS)
Stuart Frankel & Co and it's partners own (XRX)
Stuart Frankel & Co and it's partners own (QQQQ)
Stuart Frankel & Co and it's partners own (AAPL)

For Rebecca Patterson
**No disclosures

For Joe Saluzzi
**No disclosures

For Patty Edwards
Edwards is long (CME) for clients
Edwards is long (T) for clients
Edwards is long (MSFT) for clients
Edwards is long (AAPL) for clients
Edwards is long (TGT) for clients
Edwards is long (TTM) for clients
Edwards is long (GE) for clients
Edwards is long (CVX) for clients
Edwards is long (KO) for clients
Edwards is long s&p 500 for clients
Edwards is long nasdaq 100 for clients
Edwards is long gold for clients
Edwards is long silver for clients
Edwards is long platinum for clients

For Brian Kelly
Accounts Managed by Kanundum Capital Are long (CBOE) calls
Accounts Managed by Kanundum Capital Are long oil
Accounts Managed by Kanundum Capital Are long gold
Accounts Managed by Kanundum Capital Are long silver
Accounts Managed by Kanundum Capital Are long (GLD)
Accounts Managed by Kanundum Capital Are long (SLV)
Accounts Managed by Kanundum Capital Are long (DBA)
Accounts Managed by Kanundum Capital Are long wheat
Accounts Managed by Kanundum Capital Are long (MON)
Accounts Managed by Kanundum Capital Are long natural gas
Accounts Managed by Kanundum Capital Are long (UPL)
Accounts Managed by Kanundum Capital Are long (VLO)
Accounts Managed by Kanundum Capital Are long (TSO)
Accounts Managed by Kanundum Capital Are long (FXY) puts
Accounts Managed by Kanundum Capital Are short yen
Accounts Managed by Kanundum Capital Are short (XLF)

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