'Fast Money' Recap: Wait til Next Year
NEW YORK (TheStreet) -- The broader market finished mostly flat in a sleepy Monday trading session.
On CNBC's "Fast Money" TV show, Brian Kelly, founder of Brian Kelly Capital, said he expects the first half of 2014 to be smooth while the second half could have some bumps. Interest rates and oil prices will be important in 2014, and he sees oil prices going higher.
Jim Lebenthal, CFO and CIO of Lebenthal & Company, disagreed on higher oil prices. He thinks the stock market could pull back roughly 5% to 7% in the first quarter.
Tim Seymour, managing partner of Triogem Asset Management, said the financials could get a boost from rising interest rates and mining stocks could see a short-squeeze higher.
Guy Adami, managing director of stockmonster.com, said the S&P 500 needs to pull back to the 1,750 level. He suggested investors look to short Caterpillar
Ralph Acampora, senior managing director of Altaira Wealth Management, was a guest on the show. He said the market is a bit overextended but certainly not in a bubble. The market has not put in a "major top" and is still in a secular bull run. That said, he thinks a 10% to 15% pullback would be healthy and seems possible.
Lebenthal said a pullback to that magnitude is unlikely pending a huge, unforeseen, negative catalyst.
Turning to shares of Twitter
Adami said Micron
Seymour said he is comfortable owning CF Industries
Adami said he would not short Crocs
Kelly likes the housing market and prefers to be long via the iShares U.S. Home Construction ETF
Adami said shares of Disney