By Roberto Pedone
Posted on Nov. 12, 2009

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According to CNBC’s “Fast Money” traders, stocks continued to move higher this week, maintaining their strength off the weakness in the U.S. dollar. On Wednesday’s “Halftime Report” segment, Tim Seymour said he expects the market to keep going up from here as long as the dollar continues to weaken. He told viewers to watch how the S&P 500 acts at the key resistance level of 1100.

On Tuesday’s “Fast Money” TV show, Joe Terranvoa said he thinks the S&P will move north of 1100 this week. Pete Najarian agreed with him, saying the market could experience an explosive move higher if we can crack through resistance at 1100. Guy Adami pointed out that the price action has been encouraging of late but that there was also a lack of volume to support the move higher in stocks.

Adami advised viewers to play financial names such as Raymond James (RJF), which hit a 52-week high Tuesday. He also likes Jefferies (JEF) and Lazard (LAZ) on dips. Terranvoa said investors should stick with best-of-breed names such as Google (GOOG), Apple (AAPL) and Goldman Sachs Group (GS), which he believes will continue to see upside momentum.

The “Fast Money” crew has recently highlighted trading ideas that play off the growing smartphone trend, commodity and weak-dollar plays and three potential takeover targets. Here are some highlights from over the past week as aggregated from the show.

Fast Money’s 3 Hot China Plays: The traders see opportunity in playing China. On last Wednesday’s “Fast Money” show, Joe Terranova told viewers: “80 million people will live within three hours of Disney’s (DIS) Shanghai theme park. Long-term, it’s a reason to own Disney, but in the near term valuations are rich.” The Fast Money’s 3 Hot China Plays portfolio includes Cisco Systems (CSCO) and Disney (DIS).

Fast Money’s Weak-Dollar Commodity Trades: The traders have noticed that commodities continue to surge as the dollar slides to new lows. How can you trade this trend? On Monday’s “Fast Money” show, Joe Terranova told viewers: “Instead of being long the commodities, be long the companies that deal in commodities.” The Fast Money’s Weak Dollar Commodity Trades portfolio includes Potash (POT) and Caterpillar (CAT).

Fast Money’s Return-of-the-Dividend Stocks: With some companies coming back to their dividend-paying ways, how should you look to play this re-emerging trend? On Tuesday’s “Fast Money” show, Pete Najarian told viewers: “Look at JPMorgan Chase (JPM) specifically, because they are preparing to implement their dividend again.” The Fast Money’s Return-of-the-Dividend Stocks portfolio includes Wynn Resorts (WYNN) and Freeport-McMoRan Copper & Gold (FCX).

Fast Money’s 3 Takeover Targets: M&A activity is looking bright for November on Wall Street. How should you play this trend? On last Wednesday’s “Fast Money” show, Gary Kaminsky, former Neuberger Berman managing director, told viewers: “I think the names on my list could either get together or they could be acquired by Procter & Gamble (PG) or Colgate-Palmolive (CL).” The Fast Money’s 3 Takeover Targets portfolio includes Church & Dwight (CHD) and Ecolab (ECL).

Fast Money’s Options Action: The traders have noticed some unusual options activity in a number of stocks. On Tuesday’s “Halftime Report” segment, Pete Najarian told viewers: “The Avis Budget Group (CAR) has seen people rolling out of November options and into December options, with an over 400% increase in buying for December calls.” The Fast Money’s Options Action portfolio includes Amazon.com (AMZN) and Financial Select Sector SPDR ETF (XLF).

Fast Money’s Smartphone Trades: The traders noted that technology stocks have raised guidance more than any sector due to the strength in smartphones. What’s the trade? On Monday’s “Fast Money” show Tavis McCourt, a tech analyst for Morgan Keegan, told viewers: “Apple’s (AAPL) iPhone sales in China have been overrated because those phones have been selling in the black and grey markets for some time.” The Fast Money’s Smartphone Trades portfolio includes Qualcomm (QCOM) and Motorola (MOT).