This Day On The Street
Continue to site
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

'Fast Money' Recap: Momentum Market

NEW YORK ( TheStreet) -- The markets continued to gain momentum Monday on a flurry of deal-making.

The Dow Jones Industrial Average rose 69.48, or 0.57%, to 12,161.63. The S&P 500 added 8.18, or 0.62%, to 1,319.05. The Nasdaq gained 10.73, or 0.39%, to 2,783.99.

Brian Kelly said on CNBC's "Fast Money" TV show that the market is on such a roll that it appears nothing can stop it. He said it's very difficult to short a market like this.

Tim Seymour was impressed with "Merger Monday" and how it spread across a breath of industries, though he expressed concerns about inflation.

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 noted how different leaders have come up to the plate each day to lead the market. He especially liked the leadership shown by stocks such as Exxon Mobil (XOM - Get Report) and General Electric (GE - Get Report).

Najarian said people are still buying puts, adding that is a "good" thing that will take the market higher..

It was a big day for mergers with $16 billion worth announced today. Year to date, M&A activity has soared to the highest level in three years.

Brian Kelly said he was impressed with Ensco's (ESV) deal for Pride International (PDE) in the energy space.

Tim Seymour was impressed with the merger of two large steel companies in Japan to form the second largest steel company in the world.

Pete Najarian said he liked the robust activity in the oil patch, adding investors have traded in a disciplined manner, taking advantage of stocks like Halliburton (HAL) that are moving to the upside but also knowing when to take profits.

Najarian was bullish about the solar stocks while Seymour saw strength in the uranium stocks like Uranium One (UUU - Get Report), which is benefitting from supply constraints.

Adami said Danaher (DHR), which announced a deal for Beckman Coulter (BEC) has outperformed Berkshire Hathaway (BRK.B) and has room to go higher.

In another big deal today, AOL (AOL) bought the Huffington Post. Kelly said the deal is an attempt to make AOL the " New York Times of the digital world."

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr 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

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
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!
SYM TRADE IT LAST %CHG
AAPL $126.80 -0.63%
CRUS $34.25 -0.44%
GE $26.81 -0.78%
MU $28.40 0.50%
SU $32.59 -1.00%

Markets

DOW 17,987.72 -47.21 -0.26%
S&P 500 2,101.20 +0.80 0.04%
NASDAQ 5,016.7830 +22.1810 0.44%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs