Fast Money Traders Share Their Thoughts On Miners, Ambarella, Viacom, Transport And HP

On CNBC's "Fast Money Halftime Report", Stephen Weiss spoke about the mining stocks, which traded sharply higher Friday.

Vale SA (ADR) (NYSE: VALE) spiked around 5 percent, BHP Billiton Limited (ADR) (NYSE: BHP) gained around 3 percent, while Rio Tinto plc (ADR) (NYSE: RIO) and Freeport-McMoRan Inc (NYSE: FCX) jumped around 3.5 percent and 1.5 percent respectively. Weiss explained that increased steel production in China has pushed the sector higher, but he added that iron ore is a volatile commodity and these stocks could reverse.

See Also: 12 Stocks Moving Following China Import News

Ambarella Inc (NASDAQ: AMBA) spiked more than 5 percent, but Josh Brown would stay away from it. He thinks the stock is still in a well defined downtrend and the chart looks terrible.

Erin Browne commented on the transportation stocks, which are trading close to their highs. She said transportation capacity is tight all over the sector and freight rates continue to move higher. Browne thinks these stocks are well positioned to continue to do well.

Viacom, Inc. (NASDAQ: VIAB) is trading around 7 percent higher and Joe Lebenthal thinks a possible takeover is the only reason to own the stock.

Sarat Sethi believes it's time to take profits in HP Inc (NYSE: HPQ), after the stock spike more than 7 percent Friday.