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'Fast Money' Recap: Gold Isn't a Bubble

He agreed with Terranova that corn is a good commodity play. He said it would be wrong to short corn when demand in China is so strong for it.

Retail stocks continue to rise today, especially Staples (SPLS - Get Report), which was up 1%. Finerman said she was satisfied with Staples' earnings. She said the stock is cheap and attractive and much better positioned than Office Max (OMX) or Office Depot (ODP - Get Report). She said Staples has been aggressive about pricing and has built an impressive online sales operation.

Adami said he liked Home Depot (HD), while Finerman was impressed with Target's bigger-than-expected profits in the past quarter.

CNBC reporter Jane Wells noted that with rising apparel prices, shoppers are getting picky about what they buy, choosing shoes, for example, instead of sweaters. She said retailers, including Apple (AAPL), are offering discounts to lure customers.

Volatility has ebbed from last week and was above 30 today. Options trader Jim Iuorio said the VIX seems to settling into a range, allowing investors to tip toe back into stocks.

Lee noted that privately held Carlyle Group is in exclusive talks to purchase Pharmaceutical Product Development (PPDI) for $4.3 billion and asked what might be the next target in the space. Adami offered up Covance (CVD), which was upgraded Tuesday and could move higher.

Is it time to buy the financials? Isana said it's probably the second great chance since 2009 to to get into the financials after a big selloff of these stocks by hedge funds. He said Bank of America (BAC - Get Report) looked interesting from a long-term perspective.

In the final trades, Seymour liked Petrobras (PBR). Adami liked Forest Labs (FRX). Finerman reiterated her preference for Target, while Terranova said he liked Amazon (AMZN).

--Written by David Tong in San Francisco.

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CVD $106.42 0.00%
DELL $0.00 0.00%
BAC $17.81 2.18%
ODP $6.54 -0.68%
SPLS $12.17 0.83%


Chart of I:DJI
DOW 17,888.35 +168.43 0.95%
S&P 500 2,102.63 +22.22 1.07%
NASDAQ 5,156.3060 +47.64 0.93%

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