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Traders weigh reflation trades as momentum lags

Even as the Trump rally shows signs of petering out, the "Fast Money" traders said on Friday there's still opportunities in the market as it continues to tick higher.

Trader Tim Seymour said he's slowly adding to his positions in industrials, metals and other "reflation trades" —sectors that do well when growth picks up. Seymour said those kinds of stocks sold off recently and would look to buy on pullbacks in oil prices.

Trader Brian Kelly said he also likes metal trades right now. He said to stick with gold and silver in a reflation environment.

Trader Steve Grasso said he's buying broader exchange-traded funds (ETFs) because he believes the market will continue to go higher. He explained that investors who can't predict which sectors will lead on a specific day should look at funds that track the broader market.


Disclosures:

GUY ADAMI

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

STEVE GRASSO

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

BRIAN KELLY

Brian Kelly is long: FCX, TSLA, SLV, Bitcoin.

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. His 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.