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'Fast Money' Recap: A Resilient Market

NEW YORK ( TheStreet) -- The markets finished higher Wednesday despite some discouraging economic data.

The Dow Jones Industrial Average rose 36.58, or 0.39%, to 9398.19, and the S&P 500 added 6.92, or 0.69%, to 1012.73. The Nasdaq added 10.63, or 0.53%, to to 2001.35.

Melissa Lee, the moderator of CNBC's "Fast Money" TV show, said she didn't understand how the markets ended up higher given today's disappointing foreclosure and retail sales figures.

Tim Seymour said the encouraging GDP numbers coming out of France and Germany might have been a factor.

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

Pete Najarian reminded viewers that the market is going through a period where buyers are taking the opportunity to step back in whenever there is a selloff.

According to Seymour, the trade is not over yet because there are some positive market trends such as somewhat normalized earnings, some return to an investable marketplace, lower volatility and a weaker dollar.

Lee shifted the discussion to the financials and John Paulson's big stake in Bank of America (BAC), which surged 7% today.

Najarian noted one analyst at Morgan Stanley (MS) had picked BofA long before Paulson. He said the analyst picked BofA as her favorite in the group in May 2009 and was "dead right." He said she noted the bank's $40 billion writeoff was not going to happen again and that its earnings are going to be higher next year.
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Chart of I:DJI
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