This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

'Fast Money' Recap: Financials Strong

Stocks in this article: EK PCL MON RYN

NEW YORK ( TheStreet) -- The markets closed mixed Thursday as the tax cut deal ran into strong opposition from House Democrats.

The Dow Jones Industrial Average dropped 2.42, or 0.02%, to 11, 370.06 while the S&P 500 added 4.72, or 0.38%, to 1,233.00. The Nasdaq gained 7.51, or 0.29%, to 2,616.67.

Guy Adami said on CNBC's "Fast Money" TV show that he was cautious about today's action, adding 1,220 appears to be the support level.

With volatility low, Finerman said investors should be buying protection. Brian Kelly said the market held on despite worrisome overseas news.

Karen Finerman that she was happy to see the return of the financials to a position of strength. She said she was starting to see real value in these stocks. She said good economic activity will translate into loan and earnings growth for the banks.

Stephen Weiss said the yield curve is benefiting the banks and providing strength to the sector, but Adami was reticent about applying a buy-hold strategy to the sector, arguing there are still headline risks.

Brian Kelly, though, dismissed the idea of headline risks, saying the financials should benefit from an improving economy.

In the ear to the wall segment, the panel discussed the 11% spike in Eastman Kodak (EK) on takeover rumors. Najarian noted the strong options activity in the stock, while Adami said there was a 30% short interest in the stock. Adami said he was hard pressed to get into the stock.

With cotton and lumber surging today, Kelly said the way he would play it would be in Monsanto (MON - Get Report), Plumb Creek Timber (PCL - Get Report) and Rayonier (RYN - Get Report).

In the trading the globe segment, the panel discussed the rise in auto sales, with China reporting a 27% increase in vehicle sales. Finerman said the sector looks strong, with many auto stocks up, demand strong and plant utilization up.

She liked Daimler (DDAIF) as a trade. Adami went his favorite Borgwarner (BWA - Get Report), and Kelly went with Goodyear (GT - Get Report).

Stephen Weiss offered up a derivative trade with Stillwater Mining (SWC - Get Report), a play on platinum which is used in the manufacture of catalytic converters.

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Jim Cramer and Stephanie Link reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

Jim Cramer's protégé, David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
Try it NOW
Try it NOW
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

Jim Cramer's protégé, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,450.43 +63.22 0.36%
S&P 500 2,032.00 +2.45 0.12%
NASDAQ 4,708.2820 +26.7850 0.57%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs