U.S. stocks rallied on Friday, capping a choppy, losing month for markets. With a cloudy outlook ahead, "Fast Money" traders outlined their best ideas moving forward.

Major averages rose more than 2 percent each after the Bank of Japan adopted a negative interest rate policy. The promising day put an end to a rough month in which the fell about 5 percent.

Traders noted that the up-and-down sessions may continue. In the current environment, "you want to buy anything with a yield," said trader Brian Kelly.

He believes the iShares 20+ Year Treasury Bond ETF has room to climb if investors seek safer bets. Demand for the U.S. 10-year Treasury note has already sent its yield 15 percent lower this year, and it lingered near 1.9 percent on Friday.

Trader Dan Nathan also stressed that yield is crucial currently. He previously had long trades in Verizon and the Utilities Select Sector SPDR Fund, which he sold after the prices of both rose this year.

The Market Vectors Gold Miners ETF has also beaten markets this year, rising 3.6 percent. In that period, the price of gold futures has climbed more than 5 percent.

"Something's going on with gold miners to the upside," trader Guy Adami said.

Trader Tim Seymour would sell emerging market stocks on strength. The iShares MSCI Emerging Markets ETF rose more than 3 percent Friday, but Seymour sees "major structural problems" in emerging economies and said he would sell out of the fund.

Disclosures:

Tim Seymour

Tim Seymour is long AAPL, BAC, DO, FCX, INTC, IWM, NKE, T, XOM. Tim's firm is long BABA, BIDU, IWM, PEP, SAVE, SBUX, VALE, WMT.

Dan Nathan

Dan is long WMT Feb put spread, long PFE buy-write, long TWTR, long TLT Apr risk reversal, long XLP put spread.

Brian Kelly

Brian Kelly is long BBRY, Bitcoin, GDX, GLD, SLV, TLT, US Dollar; he is short Aussie Dollar, British Pound, CS, DB, EWH, Hong Kong Dollar, UBS, SPY, Yuan.

Guy Adami

Guy Adami is long CELG, EXAS, GDX, INTC, Guy Adami's wife, Linda Snow, works at Merck.