Trader Pete Najarian said that the dollar, which climbed to a near 14-year high against a basket of currencies on Wednesday, may not continue to rise. The financial sector finished the day down 1.42 percent, but Najarian said the sector isn't too far off its record highs from earlier this week, which gives traders an opportunity to buy.
The technology sector bounced back Wednesday, finishing up nearly 1 percent. Najarian noted it could be a sign of the market's consistent rotation, ultimately leading to a chance for more upside.
Trader Tim Seymour said there is "no question" that a stronger dollar is a headwind for oil, commodities, and emerging markets and is definitely something to watch.
Trader Dan Nathan said he wouldn't assume that bank stocks are going to continue to climb the way they have. Traders should not automatically assume that deregulation is coming, he said. Nathan added that anyone who buys Bank of America or Goldman Sachs, for example, is chasing the rally. In fact, both of those bank stocks are up more than 20 percent in the last month,
Tim Seymour is long ABX, APC, AVP, BAC, BBRY, CLF, CVX, DO, DVYE, EDC, EWN, EWZ, F, FB, FCX, FXI, GM, GOOGL, GE, INTC, LQD,MCD, MUR, OIH, PG, RACE, RAI, RH, RL, SINA, T, TWTR, VALE, VZ, XOM. short: EEM, SPY, XRT; Tim's firm is long ABX, BABA, BIDU, CBD, CLF, EWZ, F, KO, MCD, MPEL, NKE, PEP, PF, TCEHY, SAVE, SBUX, SINA, VALE, VIAB, WMT, WEN, X, YHOO, short EWG, HYG, IWM
PETE NAJARIAN OWNS CALLS: ABT, AKS, BZH, C, CNX, COP, CS, DISH, ETP, FTR, INTC, JCP, KGC, KMB, LOW, MRVL, MUR, PBR, RIO, SBUX, STX, TTS, TV, TWTR, TWLO, WFT, WLL, EEM, XLP. PETE IS LONG: AAPL, BAC, DIS, DISCA, GE, KMI, KMI.A, KO, LUX, MRK, MSFT, PEP, PFE, VXX. PETE OWNS PUTS: CAT
Dan Nathan is XHB long Jan put spread, XLU long Dec call Spread, XLK long Jan Put spread, XRT long Jan put spread, PG long Dec put spread, XLE Jan call spread
Guy Adami is long CELG, EXAS, GDX, INTC, Guy Adami's wife, Linda Snow, works at Merck.