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Traders spot opportunities left in postelection rally

The "Fast Money" traders debated what opportunities are left in the market as stocks continued to hit new highs after the election.

Both the Dow and the S&P 500 posted new all-time intraday and closing highs on Tuesday.

Trader Steve Grasso said that investors should not "underestimate the power of a tax cut to put 10 percent more money in our pockets on a federal basis." He said he added to his positions in PulteGroup and KB Home.

Trader Tim Seymour said he added to his positions in Freeport-McMoRan and Cliffs Natural Resources.

"Remember with commodities, you don't buy them when they're cheap. You buy them when they're running and there's momentum behind them," Seymour said.


Disclosures:

TIM SEYMOUR

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. His 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.

STEVE GRASSO

Grasso is long: BA, CC, CHK, EEM, EVGN, GDX, KBH, MJNA, MON, MU, OLN, PFE, PHM, SPY, T, TWTR. His children own: EFA, EFG, EWJ, IJR, SPY. No short positions. Grasso's firm is long VIRT, WDR, FCX, ICE, KDUS, MAT, MJNA, NE, OLN, RIG, TAXI, TITXF, WDR, ZNGA, CUBA, HSPO, ICE, MJNA, TITXF

DAN NATHAN

Dan Nathan is long XHB Jan put spread, long XLU Dec call Spread, long XLK Jan Put spread, long XRT Jan put spread, XLE Jan call spread, MCD Dec/Feb put calendar.

GUY ADAMI

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