As indexes threatened or broke records, many stocks followed suit to trade near 52-week or all-time highs. CNBC's "Fast Money" traders looked at how to trade Tuesday's close.
On Tuesday, the S&P 500 closed above 2,100 for the first time ever while the Dow Jones Industrial Average hung above 18,000, a psychological barrier that it had fallen below last month.
Read More Stocks close higher; S&P 500 at record, Dow above 18,000 again
Apple (NASDAQ: AAPL) continues to climb higher after it became the first American company to close with a market cap above $700 billion last week. The enormous technology company's stock closed Tuesday around $128 per share, just short of its 52-week high.
Apple shares, which investors should "own not trade," should continue rising, trader Guy Adami said. Those who feel the stock has grown too expensive, though, can trade Apple-reliant companies, said trader Pete Najarian.
Cirrus Logic (NASDAQ: CRUS) and Skyworks Solutions (NASDAQ: SWKS), both suppliers for Apple devices, are cheaper plays for Apple bulls, he said. Cirrus and Skyworks closed Tuesday approaching, but short of, 52-week highs around $30 and $82 per share, respectively.
"Look at some of those that are very dependent on Apple if you think you're a little late to this Apple game," Najarian said.
Read More Winning tech investor says stick with Apple
Another notable tech company, GoPro (NASDAQ: GPRO), has shown signs of creeping higher recently, Najarian and trader Brian Kelly said. After a monster IPO in June and strong climb through October, the wearable camera maker's stock suffered.
GoPro has settled around $50 per share, just above where it hit in its first day of trading. Kelly said that he like the stock at $48 per share and still likes it above $50.
The company has shown that it is not "inflated" anymore, Najarian said.
He also looked to the financial sector as he felt Citigroup (NYSE: C) shares will push higher.
Assessing options outside of stocks, Kelly said that bonds and gold (CEC:Commodities Exchange Centre: @GC.1) were both "completely falling apart." However, he remains long in both as they would be strong trades if stocks see a correction from their current levels, he said.
Disclosures:
Guy Adami
Guy Adami is long CELG, EXAS and INTC. Guy Adami's wife, Linda Snow, works at Merck.
Karen Finerman
Karen Finerman is long BABA, BAC, C, FINL, FL, GOOG, GOOGL, JPM, M, MTW and KORS. She is short DIA. Her firm is long AAPL, BAC, PLCE, C, CMLS, DIS, FINL, FL, GPS, GOOG, GOOGL, IBB, JPM, M, MTW, KORS, SUNE and XBI. Her firm is long call C spreads, long call JPM spreads and long calls SDRL. Her firm is short IWM, SPY and USO. Karen Finerman is on the board of GrafTech International.