(Related: Pros Reveal Top Trades Following Fed Action.)
Tim Seymour, a hedge fund manager and founder of EmergingMoney.com, is watching BHP Billiton. If shares of the metals and minerals miner can push past the $70.50 level, he plans to get long the stock.
To Brian Kelly of Shelter Harbor Capital, it appears as though Fed Chairman Ben Bernanke wants to help stimulate the U.S. housing market. If that's the case, Kelly likes toolmaker Stanley Black & Decker.
Meanwhile, trader Karen Finerman is watching rising oil prices.
"What's good for oil is good for Pacific Drilling," said Finerman, president of Metropolitan Capital Advisors.
Finally, trader Keith McCullough of Hedgeye Risk Management recommends shorting machinery maker Caterpillar.
Read on for the Top Secrets of Pro Traders
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