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Fast Money

Trades to watch on the Fed's decision

Your Fed playbook: 11 trades following the historic meeting

The Federal Reserve kept short-term interest rates unchanged Thursday, leaving market watchers continuing to guess when it will abandon its accommodating policy.

Stocks closed mixed on the day, with the dollar and U.S. Treasury yields falling after the Fed's decision. CNBC "Fast Money" traders outlined their best plays in the wake of the move.

1. Sell the iShares MSCI Emerging Markets ETF

Emerging markets will cheer easy policy from the Fed, so investors may want to fade any rally they see in the emerging market fund, said trader Tim Seymour.

2. Buy SPDR S&P Homebuilders ETF

Seymour looked to homebuilder stocks to play momentum in the housing sector. Trader Dan Nathan agreed, saying the segment helps investors play defense domestically.

Federal Reserve Board Chair Janet Yellen
Getty Images

3. Trade Bank of America

Bank of America closed nearly 3 percent lower on Thursday. But trader David Seaburg believes it could rally from just under $16 per share to as high as $18.50 and make a strong trade.

4. Sell Utilities Select Sector SPDR Fund

Seaburg would sell the utilities fund, as he sees weakness for the sector moving forward.

Traders work as Janet Yellen, chair of the U.S. Federal Reserve, is seen speaking on a television screen on the floor of the New York Stock Exchange (NYSE) in New York, U.S., on Thursday, Sept. 17, 2015.
64% believe Fed will hike this year: CNBC Survey
A traders on the floor of the New York Stock Exchange react to news that the Federal Reserve decided to not raise interest rates on September 17, 2015 in New York City.
Here's what changed in the new Fed statement

5. Buy Utilities Select Sector SPDR Fund

Trader Dan Nathan disagreed with the call to sell, saying the fund looked cheap, down about 9 percent this year.

6. Buy SPDR S&P Oil & Gas Exploration & Production ETF

Trader Brian Kelly looked for the oil and gas sector to rally and would play it through the SPDR fund.

7. Buy SPDR Gold Trust

Kelly also saw upside in gold, and would use the SPDR Gold Trust to benefit from a climb in the metal's price.

8. Sell SPDR S&P Regional Banking ETF

Regional banks should suffer in the wake of the Fed's decision, Kelly contended.

9. Sell Industrial Select Sector SPDR Fund

Nathan projects weakness for industrials in the near term.


Tim Seymour

Tim Seymour is long AAPL, BAC, CLF, DIS, F, GE, GM, GOOGL, INTC, JPM, T, TWTR, Tim's firm is long BABA, BIDU, MCD, NKE, NOK, SBUX, YHOO.

Dan Nathan

Dan is long PYPL Oct call calendar, QQQ Oct put spread, XLU call spread, XBI sept put spread, TWTR, PG

Brian Kelly

Brian Kelly is long BBRY, GLD, TWTR calls, Bitcoin, Yen, Crude Oil; he is short Yuan, US Treasuries.

David Seaburg

Opinions expressed by David Seaburg are solely his own and do not reflect the views and opinions of Cowen Group, Inc