Scaramucci credited four F-factors for the strong stock performance so far: 1) Fundamentals, 2) Forgetting Europe, 3) The Fed, and 4) Financials.
Also, he expected Europe to create a “$600 billion bazooka-like credit facility” in the near future.
“I think the market is starting to sense that as well, which is why you’ve seen such a stable, upward march in the last three weeks,” he said.
NEW SLIDESHOW: Top Fashion Stocks for 2012
Jon Najarian, cofounder of Option Monster.com, said that institutional investors are looking to protect their positions.
“If we do see some sort of correction, the VIX would likely give a pop to the upside,” he said.
As for buying stocks on a dip, Najarian said he was looking at some stocks and particularly at Groupon.
Thursday, the online-deals company reported positive but weaker-than expected results for its first quarter after going public. It closed Friday at $21.03, down 0.7 percent.
Got something to to say? Email us at email@example.com and your comment might be posted on the Rapid Recap. If you'd prefer to make a comment, but not have it published on our website, email firstname.lastname@example.org.
Trader disclosure: On Feb. 10, 2012, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s "Fast Money" were owned by the "Fast Money" traders: Scaramucci is long AAPL; Scaramucci is long C; Scaramucci is long GS; Scaramucci is long CSCO; SkyBridge Capital Is A Fund Of Funds Manager; Anthony Scaramucci is one of 8 national finance chairs for Mitt Romney campaign; Scaramucci a fundraiser for Mitt Romney and has contributed to the Romney campaign; Najarian is long AAPL; Najarian is long BAC; Najarian is long GS; Najarian is long NFLX; Najarian is long INTC; Najarian is long CSCO; Najarian is long IBM; Najarian is long RVBD; Najarian is long ALL; Najarian is long DIS; Najarian is long FIO; Najarian is long LNKD;
For Steve Grasso
Stuart Frankel & Co and it’s partners own CSCO
Stuart Frankel & Co and it’s partners own HPQ
Stuart Frankel & Co and it’s partners own MU
Stuart Frankel & Co and it’s partners own P
Stuart Frankel & Co and it’s partners own ZNGA
Grasso is long NUAN
Grasso is long S
Grasso is long XLU
For Zach Karabell
Karabell is long TGT
Karabell is long AAPL
Karabell is long IBM
Rivertwice is short GS puts
Rivertwice is short XLF
For Patty Edwards
Trutina Financial is long AAPL
Trutina Financial is long GLD
Trutina Financial is long INTC
Trutina Financial is long JOYG
Trutina Financial is long MAT
For Tony Sacconaghi
Toni Sacconaghi maintains a long position in Seagate Technology (STX).
Mit Shah maintains a long position in Apple Inc. (AAPL).
Bernstein currently makes a market in the following companies AAPL / Apple Inc.
For Gene Munster
I or a household member have a financial interest in the securities of the following companies: none
I or a household member is an officer, director, or advisory board member of the following companies: none
I have received compensation within the past 12 months from the following companies : none
Piper Jaffray or its affiliates beneficially own 1% or more of any class of common equities of the following companies: none
The following companies have been investment banking clients of Piper Jaffray during the past 12 months: ACOM, DANG, DRIV, MOBI, YNDX, YOKU
Piper Jaffray expects to have the following companies as investment banking clients within the next three months: none
Other material conflicts of interest for Gene Munster or Piper Jaffray regarding companies in my universe for which I am aware include: ACOM, YNDX, YOKU: underwriting
Piper Jaffray received non-investment banking securities-related compensation from the following companies during the past 12 months: ACOM, DRIV
Piper Jaffray makes a market in the securities of the following companies, and will buy and sell the securities of these companies on a principal basis: AAPL, ACOM, AMZN, BIDU, DANG, DRIV, EBAY, GOOG, IACI, LOGM, MCHX, MELI, MOBI, PRTS, RLOC, SINA, SOHU, VCLK, WWWW, YHOO, YNDX, YOKU
Piper Jaffray usually provides bids and offers for the securities of the following companies and will, from time to time, buy and sell the securities of these companies on a principal basis: none
For Amelia Bourdeau
For Bryan Stockton
For Jeff Weiner
For Jeff Kilburg
Kilburg is long TLT