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Traders say it might be time to buy into tech after NASDAQ hits 2016 highs

The "Fast Money" traders are keeping an eye on the big tech names, after the technology-heavy NASDAQ saw its highest levels of the year on Tuesday.

Trader Pete Najarian said that technology and biotechnology companies could help drive the NASDAQ higher, especially if giants like Microsoft and Apple start participating in the rally.

Trader Dan Nathan said he likes PayPal because of "interesting secular things going on in e-payments." Another stock he likes is JD.com, even though the "fundamentals haven't been fantastic." Nathan said that JD is a company is well-positioned.

Trader Brian Kelly said that he is less confident in tech's potential.

"If you're buying into tech and you're buying into dividend stocks, you just need to know that you're buying into a bubble. That doesn't mean that it can't go higher. Bubbles go on for a long time, a lot longer than most people can stay short them," Kelly said.

He said he would rather look at securities outside the United States, especially in Japan.

"To me, what happened in Japan over the last couple days could be game changing, so I would look towards Japan," Kelly said, adding that in particular he would look at the WisdomTree Japan Hedged Equity Fund.

Disclosures:

PETE NAJARIAN

Long stock: AAPL, BAC, BMY, CSCO, DIS, DISCA, GE, KMI, KMI.A, KO, LUX, MRK, PEP, PFE, SAVE, VIAB, ZIOP Long Calls: AAL, AKS, AMJ, CHK, CLF, CNX, CSX, DAL, EGO, GSAT, HBAN, HOG, INTC, KGC, LLY, MT, MU, NLNK, P, SBUX, SLV, SLW, SVU, TMUS, WLL, XLE, YELP. Long Puts: BID, CS,GM, NAV, NLY

TIM SEYMOUR

Tim Seymour is long APC, AVP, BAC, BBRY, CLF, DO, EDC, EWZ, F, FCX, FXI, GM, GOOGL, GRMN, GE, INTC, LQD, M, MCD, MPEL, NKE, RACE, RAI, RH, RL, SINA, T, TWTR, UA, VALE, VZ, XOM and short: SPY, XRT. His firm is long ABX, BABA, BIDU, CLF, EWZ, F, HD, KO, MCD, MPEL, NKE, PEP, PF, SAVE, SBUX, SINA, VALE, VIAB, WMT, WEN, YHOO, short HYG, IWM

BRIAN KELLY

Brian Kelly is long Bitcoin, DXJ, GLD, MOS, POT, SLV, XME, US Dollar UUP; he is short WTI crude, Swiss franc, euro and Japanese yen.

DAN NATHAN

Dan Nathan is Long JD Aug call spread, Long PFE, Long TWTR, BABA Aug put spread, IWM long Sept put, XLF long Aug put spread, XLK long Sept Put spread, FXI long Aug put spread, SMH long Aug put spread, long PYPL call calendar, long C Aug put spread, XOP Sept put spread, TGT long Aug calls, TSLA long Aug put, SPY long Sept put spread, BAC long Sept puts.