"JCPenney still has a huge short interest," he said. "So, I wouldn't go out there and short the name, but I don't think there's a real big future for it on the long side, either."
Apple, Adami said, could still climb.
"The tell in Apple was back in the middle of October when the market was tanking and Apple really didn't move. It traded down to $96, but it traded really well on lousy tape. We made that point. I thought $88, obviously didn't get there. Above $103 gets you $110," he said. "But now to me it's trading like something more is going on, something like maybe there's some Alibaba partnership that's been bandied about. But it feels, the way it's traded over the last couple of days, that there's something in the works, which leads me to believe the stock is still impervious to any bad tape. I guess you just stay with it here."
Read MoreAlex from Target: Fame 'overwhelming'
Karen Finerman was on the fence when it came to Apple.
"We had stock and some calls against it. Some expired, some will be assigned," she said. "And here, I would neither add nor sell. I don't know what to do with the rest."