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'Fast Money' Recap: Tech Charge

Stocks in this article: IBMCSCOHPQ

Goldman said Cisco, with $39 billion on its balance sheet, can easily weather any storm.

Adami said there may be profit taking in Hewlett-Packard (HPQ), the next big tech company to report, but he said HP's diversification and strong balance sheet can weather any storm as well.

Lee noted that gold continued to rally today, up $22. Seymour said the trade is working because gold is perceived as a hedge against currency failure. He also said the miners are finding more gold and getting upgraded.

Lee referred to a report that said $2.3 billion has moved into gold funds in the past six days. She also said that SPDR Gold Trust (GLD) has become the fourth largest ETF.

Adami wondered whether there were any circumstances gold might fall, while Kaminsky said the gold trade "seems too easy." Seymour, though, was bullish on gold, saying it has been up the past five years.

Lee said Whole Foods (WFMI) was up 5% after a big beat on the top and bottom lines. Kelly said the stock continues to amaze him because it seems to beat every quarter.

Lee brought in Stephen Weiss, founder of Short Hills Capital Partners, to comment on reports that Morgan Stanley (MS) had misled investors on mortgage-derivative deals.

Weiss said Goldman Sachs (GS) will be a bargain after a settlement is reached and there is a change in the management team.

Kaminsky said it will probably be an industrywide settlement and a shakeup at Goldman that will result in the departure of its CEO and a return to its investment banking culture.

Should banks be regulated as utilities? Richard Duncan, chief economist at Blackhorse Asset Management, argued the large banks need to be broken up into tightly regulated utilities before they destroy the economy.

He said the banks have run amok and are putting deposits at risk with their speculation. He said he would choose the FDIC as the regulator.

Lee noted that master limited partnerships have been on fire so far this year. Darren Horowitz, an analyst for Raymond James, commented on the possibility of a dividend tax, saying it shouldn't have an impact on them.

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