'Fast Money' Recap: Tech Stocks Show Some Life

The markets displayed some resiliency Tuesday with tech and commodity stocks leading the way.

The Dow Jones Industrial Average added 62.21, or 0.69%, to 9,015.10, while the S&P 500 rose 7.25, or 0.78%, to 934.70. The Nasdaq rose 24.35, or 1.50%, to 1,652.38.

Dylan Ratigan, the moderator of CNBC's "Fast Money" TV show, said the markets showed continued signs of diminished volatility and light volume.

Jeff Macke noted two stocks that did well for him in the face of "bad" news: Mosaic(MOS Quote), which provided a "disastrous" guidance, and Toyota Motor(TM Quote), which saw a big sales decline in December.

Ratigan asked Karen Finerman to comment on Bank of America (BAC Quote), which expects is final results for 2008 to fall below expectations.

Finerman said BofA as well as other financial institutions are going to have to tackle with big loan loss provisions, which haven't been fully reflected in their stocks.

Pete Najarian said he's been impressed with VISA(V Quote) for its "transparency." "We know what they are doing and what their risks are, which are pretty much transitional risks. They are getting more and more into the debt markets and that's going to be good for them going forward. They pretty cheap right now," he said.

Guy Adami said the leadership for market may not come from the financials, but instead from some other sector such as health care or commodities.

Ratigan shifted the attention to the technology stocks, which had a good day. Najarian liked HP (HPQ Quote), which has risen to close to $40, and Nvidia(NVDA Quote), which has been up $7 the last couple of days and has seen unusually strong options activity for February.