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Traders look for opportunities after Nasdaq hits new all-time high

The "Fast Money" traders looked for stocks and sectors that they could still buy after the major indexes saw their third consecutive positive session on Thursday.

The Nasdaq hit a fresh all-time high on Thursday of 5,342.88.

Trader Guy Adami said he likes Anadarko Petroleum and Allergan. He said he believes biotech will continue to rise. The key biotechnology ETF hit its highest level since January, closing above $300 per share, which had been a level of resistance for the security.

Trader Steve Grasso said that investors should look in the materials, energy and utilities sectors for opportunity.

Trader David Seaburg said that there might be opportunities in the market, but he suggested that investors should wait for better times to buy. He said that if investors have to buy something right now, he would look at the biotechnology sector, but he would prefer to do that in a market pullback.

— CNBC's Chris Hayes contributed to this report.


Disclosures:

TIM SEYMOUR

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

STEVE GRASSO

Steve Grasso is long BA, CC, EVGN, KBH, MJNA, MON, MU, OLN, PFE, PHM, T, TWTR, GDX Grasso's Kids Own EFA EFG EWJ IJR SPY. Stuart Frankel & Co Inc. and some of its Partners have a financial interest in DVN, LDP, WDR, AVP, CVX, FCX, ICE, KDUS, KO, MAT, MCD, MJNA, NE, NEM, OLN, OXY, RIG, STAG, TAXI, TEX, TITXF, URI, VALE, WDR, WYNN, ZNGA, CUBA, HSPO, ICE, AMZN, MJNA, TITXF, NXTD, SPY, QQQ, DIA, XLI, BGCP, VIRT, JCP, GE, AIR, FP.

GUY ADAMI

Guy Adami is long CELG, EXAS, GDX, INTC. Adami's wife, Linda Snow, works at Merck.

DAVID SEABURG

Opinions expressed by David Seaburg are solely his own and do not reflect the views and opinions of Cowen Group, Inc. David Seaburg and Cowen have a financial interest in EDIT. Diamond Offshore: an employee of Cowen and Company, LLC serves on the Board of Directors of Diamond Offshore. EXPE, HZNP, VA – Not Approved.