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‘I Think You Buy This Jobs Report’: Brian Kelly


Stocks held their recent gains after Friday’s better-than-expected U.S. jobs report, suggesting higher market levels ahead, “Fast Money” traders said on CNBC.

“I think you buy this jobs report,” said Brian Kelley of Shelter Harbor Capital, who said it was “astounding” that so many people were given to conspiracy theories about whether the numbers were manipulated.

'Fast Money' Pros Trade the Jobs Report

“The one thing that’s not priced into the market is an improvement in the economy,” he said. “All you need to do is get a couple good numbers, and we’re headed up to that 1,500 level” in the S&P 500.

(WATCH: Goldman Sees S&P 2013 Target of 1,575)

Pete Najarian of OptionMonster.com said that some of the employment numbers did “seem a little bit strange.”

“You just have to trade every one of these numbers, whether you believe it or not,” he added.

The Bureau of Labor Statistics reported that the U.S. economy added 114,000 new jobs, lowering the unemployment rate to 7.8 percent.

(Read More: Jobs Growth Rises 114,000 as Rate Slides to 7.8 Percent)

“The market wants to continue to go higher,” Drakon Capital’s Guy Adami said. “I still adhere to my comments: The market does not give you this long the highs, which I do believe we’re going to push toward 1,500, 1,525 in the S&P.”

Home Depot, Adami pointed out, was trading at a 12½-year high.

“There are secular stories that continue to work, and believe they will continue to work,” he added.

Jon Najarian of OptionMonster.com said that he didn’t believe the numbers were manipulated, but noted that there were likely fewer job-seekers looking for work.

Trader disclosure: On Oct. 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: Brian Kelly is long QQQ; Brian Kelly is long GLD; Brian Kelly is long SLV; Brian Kelly is long DAX; Brian Kelly is long DBA; Brian Kelly is long DBB; Pete Najarian is long AAPL; Pete Najarian is long C; Pete Najarian is long JPM CALLS; Pete Najarian is long INTC CALLS; Pete Najarian is long SBUX; Pete Najarian is long FB; Pete Najarian is long MSFT; Jon Najarian is long GS; Jon Najarian is long JPM; Jon Najarian is long FB; Jon Najarian is long AMZN; Jon Najarian is long HPQ; Jon Najarian is long V; Jon Najarian is long VLO; Jon Najarian is long CVX; Jon Najarian is long YUM; Jon Najarian is long PSX; Jon Najarian is long GLUU; Jon Najarian is long CME; Jon Najarian is long CBOE; Jon Najarian is long STSI; Guy Adami is long C; Guy Adami is long GS; Guy Adami is long INTC; Guy Adami is long AGU; Guy Adami is long MSFT; Guy Adami is long NUE; Guy Adami is long BTU.

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