The"Fast Money"traders debate on Wednesday, whether the financial sector or the technology sector is the best place to make trades, in today's stock market.
Trader Karen Finerman said she likes financials, such as Citigroup. She said the technology sector's current reputation as a safety trade is false. She said the area is performing as it should and is moving higher along with the rest of the market. Finerman said the sector's recent surge was delayed since the sector performed badly after the election and missed the Trump rally.
Trader Guy Adami said he likes financials based on Goldman Sachs' performance. The stock is up 47 percent in the past 12 months.
Trader Pete Najarian said, although a tough choice, he is leaning towards technology names, more specifically the chipmakers. He mentioned stocks like Micron Technology, Skyworks Solutions, and Intel and even broadens it out to Oracle.
Trader Dan Nathan piggybacks on Najarian's cloud computing play and said he likes Salesforce.com. He said some traders are concerned because the stock is near its all-time highs and may not have more room to run. The stock is up 20 percent year-to-date.
Pete Najarian owns calls AA, AAPL, ABX, BAC, BZH, C, CCL, CLF, DAL, ETE, FEYE, GE, GLD, HMY, INTC, KMI, MAR, MDLZ, MPEL, QVCA, RIG, UNP, WPT, WLL, VALE, XLF, XLNX, ZIOP. Pete is long AAP, AAPL, BABA, BAC, CL, DLTR, DIS, EBAY, EMR, GILD, GM, HAIN, HUM, IBM, INTC, JWN, K, KO,KORS, KMX, LUX, MAR, MDLZ, MOS, MSRT, MRK, RL, TRN, UNP PFE, WFT. Pete bought puts AFSI.
Karen is long AAL, BAC, BAC short calls, C, DAL, EEM, EPI, EWW, DVYE, FB, FL, GLMP, GOGO, GOOG, GOOGL, JPM, URI, LYV, KORS, KORS calls, KORS puts, MA, SEDG, SPY puts, TACO, WIFI long call spreads. Her firm is long ANTM, BAC, C, C calls, FB, GOOG, GOOGL, JPM, JPM calls, KORS, LYV, PLCE, SPY puts, WIFI, her firm is short IWM, MDY. Karen Finerman is on the board of GrafTech International.
Dan Nathan is long SPY May put spread, XLV long APR-June put spread, XLI long June put spread, CMG long call calendar.
Guy Adami is long CELG, EXAS, GDX, INTC. Adami's wife, Linda Snow, works at Merck.