'Fast Money' Recap: Dow 10,300?

NEW YORK (TheStreet) -- The markets capped the week on a solid note as the Dow Jones Industrial Average hit a new high.

The Dow jumped 78.07, or 0.80%, to 9,864.94, while the S&P 500 rose 6.01, or 0.56% to 1,071.49. The Nasdaq added 15.35, or 0.72%, to 2,139.28.

Joe Terranova said on CNBC's "Fast Money" TV show that "everything is setting up well" for the market. He said the challenge now will be for the S&P to cross 1,075 and "break out" to 1,120.

Tim Seymour said he was encouraged by a lot of good data from around the world and the fact that there isn't much happening next week until JPMorgan Chase(JPM Quote) reports on Wednesday.

For a breakout of some stocks from a recent "Fast Money" TV show, check out Dan Fitzpatrick's "3 Stocks I Saw on TV."

3 Stocks I Saw on TV

Guy Adami cited Cisco(CSCO Quote) as a name that "continues to work." He believes the company is about the pull the trigger on a big acquisition that will move the stock higher.

Melissa Lee, the moderator of the show, shifted the discussion to gold, which has been up 11 of the last 13 weeks. Joe Terranova said he didn't like the reaction of gold to $1,050 and reduced his position, preferring instead to trade in crude, which he believes will break out in the next two to three weeks.

Seymour said he was concerned about the valuation of miner stocks, especially in South Africa. Guy Adami said he was comfortable with the valuation of Freeport-McMoRan(FCX Quote) and feels it has "broken out." He also said Apache(APA Quote) still makes sense as a momentum play after hitting a 52-week high.