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'Fast Money' Recap: Silver Sizzles

NEW YORK (TheStreet) --The markets were mixed Tuesday as gold and silver continued to soar.

The Dow Jones Industrial Average fell 6.13, or 0.05%, to 12,393.90. The S&P 500 slipped 0.96, or 0.07%, to 1,331.91. The Nasdaq added 2, or 0.07%, to 2,791.19.

Guy Adami said on CNBC's "Fast Money" show that he was more interested with the rise in silver than in gold. He said he sees silver heading north of $40 in the new few weeks.

Kelly said the demand for gold is being fueled by negative real interest hikes and China's demand for the commodity. He said 55% of the demand in silver is investment-related. He said he would sell Silver Wheaton (SLW) in the mid-$40's.

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

Joe Terranova said China wants more gold to diversify its portfolio. Karen Finerman threw up her hands on the gold trade. "I don't get it. I'm neither long nor short. It's like religion: You either believe it or you don't. I don't."

Scott Wapner, the moderator of the show, said the market is advancing on dollar weakness. Terranova said U.S. exports is driving equities higher, thanks to QE2, adding the equities will fade when the dollar rebounds.

Wapner brought in Jon Najarian to talk about the collapse today in American Superconductor (AMSC) after it fell 41.57% when a Chinese energy equipment maker refused to accept a shipment. That's the problem when "you have one customer making up all your sales," he said.

The news on Monday that Texas Instruments (TXN) is buying National Semiconductor (NSM), didn't generate much of a lift to other players in the space, Kelly said.

Adami said he was more impressed with the Nasdaq's decision to reweigh Apple to 12.3% from 20.5%. Finerman said she was selling Google after hearing a report that the Justice Department is mulling the possibility of antitrust lawsuit to stop Google (COL) from buying ITA Software.

Boeing (BA) shares were down on worries about the FAA's emergency order to have a large number of 737s inspected. Kelly said he would short it, while Adami said he would get out of it and go to Rockwell Collins (COL).

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