'Fast Money' Recap: Voting for a Rally

Dylan Ratigan hosted CNBC's "Fast Money" show Tuesday night. He started the show with a discussion of the rally in the stock market today. He explained that today's rally was the biggest run on an Election Day in history.

Jeff Macke pointed out that the rally was across the board except for the dollar, which was weak. Tim Seymour said the "risk trade" is back on. Pete Najarian told viewers to look at how the volatility has come down on stocks such as Goldman Sachs(GS Quote). Guy Adami said fundamentals are back in play and people are starting to regain their confidence in the U.S. equity markets. He says "the selling from redemptions appears to be over, but we are still in that range."

Seymour said to look at some of the steel names such as ArcelorMittal(MT Quote), which trades at two to three times earnings. Macke told viewers he sold Burlington Northern(BNI Quote) today.

He also said the dollar looks like it's coming into a "buyable level," and he said he would play it with the PowerShares DB US Dollar(UUP Quote) around $25 per share. Seymour mentioned that he picked up some UltraShort MSCI Emerging Markets ProShares(EEV Quote) to hedge against some of the stuff he is long.

Ratigan switched the conversation to the change in power coming for the Treasury once the presidential election is over. Adami said that if Barack Obama wins, he will name Larry Summers as the Treasury secretary by no later than Friday of this week. He says "bank stocks will outperform in the next 18 months."

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