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Traders look for opportunities as Dow inches toward 20K

The "Fast Money" traders debated which lagging Dow components they thought would be the best bets as the index inches toward the 20,000 level.

Between when the Dow was trading at the 10,000 level and now, Pfizer, Merck, General Electric, Verizon and Cisco lagged the broader index.

Trader Steve Grasso said Verizon is interesting and that "Apple's run is over." He argued that most people don't have a compelling reason to buy multiple products in Apple's ecosystem anymore. Grasso said that people generally do most of their computing on their smartphones now.

Trader Tim Seymour said he would be interested in Nike, which he believes has underperformed the index even though the business is "as strong as it has ever been."

Grasso disagreed and said investors should sell pops in Nike shares.


Traders work on the floor of the New York Stock Exchange.
Getty Images
Traders work on the floor of the New York Stock Exchange.

Disclosures:

KAREN FINERMAN

Karen Finerman is long AAL, BAC, BAC short calls, C, DAL, FB, FL, GLMP,, GOGO, GOOG, GOOGL, JPM, LYV, KORS, KORS calls, KORS puts, M, MA, SEDG, SPY puts, TACO, UAL, URI, WIFI long call spreads. Her firm is long ANTM, AAPL, BAC, C, C calls, FB, GOOG, GOOGL, JPM, JPM calls, KORS, LYV, M, MOH, PLCE, SPY puts, URI, WIFI. Her firm is short IWM, MDY. Finerman is on the board of GrafTech International.

STEVE GRASSO

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

DAN NATHAN

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

TIM SEYMOUR

Tim Seymour is long ABX, APC, AVP, BAC, BBRY, C, 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, SQ,T, TWTR, VALE, VZ, XOM. short: EEM, SPY, XRT; Tim's firm is long ABX, BABA, BIDU, CBD, CLF, EEM, EWZ, F, KO, MCD, MPEL, NKE, PEP, PF, TCEHY, SAVE, SBUX, SINA, VALE, VIAB, WMT, WEN, X, YHOO, short EWG, HYG, IWM.