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Bernanke Signaling ‘A Bond-Friendly World’: Pro

Federal Reserve Chairman Ben Bernanke's comments on Tuesday sent a clear message to investors, Joe Terranova of Virtus Investment Partners said.

On CNBC's "Fast Money," Terranova interpreted what Bernanke meant for the market.

(Read More: Bernanke: No New Stimulus Despite Weak Recovery)

"He's telling the audience, he's telling you, he's telling the watchers of this show: It's a bond-friendly world. And it's going to remain a bond-friendly world. You're going to have to go out, do a search for yield, look at dividend-paying stocks," he said.

"The one disappointing thing that he took a pass on is not saying to D.C., 'Look, you may avoid the "fiscal cliff" right now, but do not create another one next year,' because in essence that's all that's going to happen."

Terranova called out Bernanke, who delivered a speech at the Economic Club in New York on Tuesday, for not laying out a longer-term view.

(Read More: Whitney Tilson: 'I Love the Fiscal Cliff')

"What's good for growth in this economy is, you want to avoid the 'fiscal cliff' now, fine," he said. "But tackle the issues early in 2013. Don't create another one because that limits growth."

The so-called "fiscal cliff" would trigger the end of the Bush tax cuts and federal spending cuts if Washington lawmakers don't agree on a budget deal.

Stephen Weiss of Short Hills Capital noted that Bernanke was stoking "fiscal cliff" fears.

(Read More: Petrified by the 'Fiscal Cliff'? Relax, It's Just a Slope)

"Every time Bernanke speaks, there's an expectation he's bringing cash with him to give out," he said. "I'm doing nothing in the market based on Bernanke, just because I don't think he's influencing the market at all."

Weiss said he had reduced both his short positions, such as U.S. Steel, Rio Tinto and Vale, and long positions.

(Read More: Hewlett-Packard: Value Trap or Bargain Stock?)

"I like the banks," he said, calling out positive housing data. "I like some technology stocks, beaten-up ones, not old-tech value traps like Hewlett or like Intel, or like Dell or Microsoft, but others like Skyworks, and like Qualcomm, like we talked about."

Trader disclosure: On Nov. 20, 2012, the following stocks and commodities mentioned or intended to be mentioned on CNBC's "Fast Money" were owned by the "Fast Money" traders: Jon Najarian is long AAPL; Jon Najarian is long FB; Jon Najarian is long GRG; Jon Najarian is long DSW; Jon Najarian is long WHR; Jon Najarian is long PHM; Jon Najarian is long ESV; Jon Najarian is long NBL; Jon Najarian is long MAS; Jon Najarian is short puts in GLD; Jon Najarian is short puts in AGQ; Jon Najarian is short puts in SLV; Jon Najarian is long GLUU; Jon Najarian is long STSI; Jon Najarian is long CME; Jon Najarian is long CBOE; Joe Terranova is long VRTS; Joe Terranova is long TJX; Joe Terranova is long AAPL; Joe Terranova is long SWN; Joe Terranova is long VZ; Joe Terranova is long GS; Joe Terranova is long XOM; Steve Weiss is long BAC; Steve Weiss is long C; Steve Weiss is long RIMM; Steve Weiss is long JPM; Steve Weiss is long QCOM; Steve Weiss is long SWKS; Steve Weiss is short RIO; Steve Weiss is short X; Steve Weiss is short VALE.

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