Don't look now, but it's not just Apple and Home Depot breaking out to new highs. Four other stock plays the "Fast Money" traders are watching could be on the verge of a serious move higher.

Tim Seymour of Triogem Asset Management suggested looking overseas at the emerging markets ETF, , for the next big breakout play.

"Emerging market equities have been outperforming the S&P for the last three to six months, but at 45¼ this is a stock that is ready to push through major resistance and break through to new highs," he said Tuesday.

Nike looks like the next big retail name set to soar, RiskReversal.com's Dan Nathan said.

"This is one that is setting up for the next positive catalyst towards a breakout ... and that catalyst is earnings in late September," he added. Nathan is long September and October call spreads on Nike.

Brian Kelly of Brian Kelly Capital said that he expects a breakout in gold and in the miners ETF, .

"The most important question gold investors have to ask themselves is: Is the Fed going to tolerate a little higher inflation than perhaps their target and keep rates low?"

This could be very positive for gold, he added, and the miners ETF could easily ramp higher.

Kelly holds a long position in GDX.

Guy Adami of Private Advisor Group looked to the biotech space.

"Exact Sciences has a noninvasive colorectal cancer screening test," he said. "It's basically an intellectual property play. There's also a 35 percent short interest in the stock."

Adami went on to urge caution on short interest plays but reiterated that he saw Exact Sciences as a major breakout candidate.

—By CNBC's Courtney Gartman