“There are other tech names that haven’t participated as much as Big Blue in the last year, probably,” she said. “I wouldn’t be short it, for sure, but I’m out.”
IBM traded as high as $201.19 before closing at $200.66, up almost 1 percent for the day.
Drakon Capital’s Guy Adami saw continued strength in the stock.
“It’s a lot harder to jump in,” he said. “But it continues to outperform, and I don’t see any reason it’s going to stop now.”
Tim Seymour of EmergingMarkets.com didn’t like the price.
“It’s not a name we would own at this valuation,” he said.
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Trader disclosure: On March 5, 2012, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s "Fast Money" were owned by the "Fast Money" traders: Finerman is long (AAPL); Finerman is long (BAC); Finerman is long (JPM); Finerman is long (HPQ); Finerman is short (SPY); Finerman is short (IWM); Finerman is short (MDY); Kelly is long (QQQ) calls; Kelly is long (USG); Kelly is long (SPY); Kelly is long (SPY) Puts; Kelly is long (EWE); Kelly is long Mexican Peso; Kelly is long German Bunds; Kelly is short (EWY); Kelly is short Australian Dollar; Kelly is short New Zealand Dollar; Adami is long Citigroup; Adami is long (GS); Adami is long (INTC); Adami is long (AGU); Adami is long (MSFT); Adami is long (NUE); Adami is long (BTU); Nations is long (BAC); Nations is long (SPY)
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