'Fast Money' Traders Talk Gold, Defensive Stocks And More

On CNBC’s “Fast Money” on Monday, Guy Adami said gold mining stocks like SPDR Gold Trust GLD and VanEck Vectors Gold Miners ETF GDX are breaking out to the upside and continue to have room to run.

Tim Seymour added that typical risk-aversion stocks like McDonald's Corp MCD, Coca-Cola Co KO, PepsiCo, Inc. PEP and Starbucks Corporation SBUX are defensive stocks that are likely going higher and that valuations don't matter.

Dan Nathan said with gold and defensive stocks moving higher, the warning signs are "screaming in silence" and said if the market is going to breakout to meaningful highs, Microsoft Corporation MSFT, Amazon.com, Inc. AMZN and Alphabet Inc GOOG will have to get back to prior highs.

Brian Kelly said there are "signs of weakening" and is cautious because we have had such a run. He doesn't have a lot of equity exposure at this time.

Adami said if the market were as strong as everyone wants it to be, the iShares Russell 2000 Index IWM should be higher.

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