By Stockpickr Staff
Posted on March 26, 2009

The traders of CNBC’s “Fast Money” continue to think the path of least resistance in the stock market is higher. Most of the crew liked what they heard from Treasury Secretary Timothy Geithner on Monday in regards to the new bank plan that will remove toxic assets from the bank balance sheets.

Earlier this week, Guy Adami reminded viewers that he still sees the S&P 500 going to 900. He also said the market internals of the 300-point rally last Tuesday were some of the best he’s seen in a long time. Tim Seymour likes how the market is acting technically. Pete Najarian is also bullish, but he thinks it’s a traders market until the VIX drops below 40 and stays there for awhile.

The gang recently highlighted trading ideas that play off tech stocks, fast food stocks and stocks that are experiencing unusual options activity. Here are some highlights from over the past week as aggregated from the show.

Fast Money’s Options Action: The traders highlighted some unusual options activity in a number of stocks. On Tuesday’s “Fast Money” show, Pete Najarian told viewers: “Options traders are buying April 65-calls in Allergan (AGN). That suggest the stock could still have more upside.” Fast Money’s Options Action includes Potash (POT) NVIDIA (NVDA).

On Friday afternoon, Allergan was trading down $2.15, or 4.4%, at $47.33.

Fast Money’s Best Tech Stocks: Who will be the winners in the technology sector? On Monday’s “Fast Money” show, Citi Investment Research analyst Jim Suva told viewers: “Taiwan and Korea need glass. They need LCD panels. They need Corning (GLW).” Fast Money’s Best Tech Stocks include Apple (AAPL) and Palm (PALM).

In Friday afternoon trading, Corning was down 72 cents, or 5.1%, at $13.51.

Hedge Fund Whale Action in Gold: Hedge fund whales such as John Paulson and David Einhorn are buying up positions in gold. How should you play it? On last Wednesday’s “Fast Money” show, Joe Terranova told viewers: “If you’re going to play gold, I think you need to be in it long-term. It’s something to place in your portfolio and hold.” Hedge Fund Whale Action in Gold includes Kinross Gold (KGC) and AngloGold Ashanti (AU).

Kinross was trading down 92 cents, or 4.9%, at $17.77; and AngloGold was down $1.15, or 3%, at $36.94.

Fast Money’s Investment Bank Stock Picks: The traders see opportunity in the investment banking complex. On Tuesday’s “Fast Money” show, Pete Najarian told viewers: “Morgan Stanley (MS) is moving in the right direction with its huge retail banking operation and great investment banking unit.” Fast Money’s Investment Bank Stock Picks include Jefferies Group (JEF) and Lazard (LAZ).

Morgan Stanley was down 85 cents, or 3.3%, at $24.79 in Friday afternoon trading.

Fast Money’s Fast Food Stock Picks: It’s clear that consumer do not stop eating fast food during recessions. What is the trade? On last Thursday’s “Fast Money” show Guy Adami told viewers: “With stimulus in China targeted at the consumer I’d look at Yum! Brands (YUM), because they have a large presence in that nation.” Fast Money’s Fast Food Stock Picks include McDonald’s (MCD).

Yum! was losting $1.11, or 3.7%, at $28.75 in Friday afternoon trading.

Fast Money’s Trader Radar: In a segment called “Trader Radar,” the crew highlights stocks with unusual volume. On Monday’s “Fast Money” show, Dylan Ratigan told viewers: “On the trader radar tonight we’re watching Walgreen (WAG). The drugstore chain was among the most active names on the NYSE today.” Check out Fast Money’s Trader Radar.

Who’s on Stockpickr Answers? David Peltier will be on Stockpickr Answers on March 27 to respond to investing and trading questions posed by members of the Stockpickr community. Not a member? Join the Stockpickr community today -- free.

P.S. Where is Jim Cramer putting his own money? Take a free peek at his personal portfolio to see all his buys and sells by clicking here. When you do, Jim will also send you exclusive email alerts telling you everything he’s about to add to or shed from his Action Alerts PLUS portfolio -- before he makes his trade.