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'Fast Money' Recap: S&P's Old News

Nations said the valuation for some of these stocks like Netsuite is getting out of hand. He said the call volume for Netsuite is 12 times the average call volume.

Wapner noted today's buzz kill was the fertilizer space, where stocks like Mosaic (MOS) were down. Seymour attributed the decline to the ability of the largest customers of these companies like India to jawbone down the price of potash and other fertilizer products.

Why is gold weakening in the face of an equities rally? Dennis Gartman said it's probably due to the fact that stock portfolio managers are behind on their benchmarks and are swapping out of gold and moving into equities.

Commenting briefly on the drubbing Vladmir Putin's United Russian Party took on Sunday in parlimentary elections, Seymour said the setback means a broadening democratic base and a more interesting market. He said he particularly liked the Russian cellphone carriers Mobile Telesystems (MBT) and Vimpelcom (VIP).

In the final moves, Weiss liked Verizon. Terranova liked True Religion (TRLG). Adami favored General Mills (GIS - Get Report). And Seymour liked TIM Participacoes (TSU - Get Report).

-- Written by David Tong in San Francisco.

>To contact the writer of this article, click here: David Tong.

To submit a news tip, send an email to: tips@thestreet.com.

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SYM TRADE IT LAST %CHG
TRLG $0.00 0.00%
GIS $58.21 0.00%
TSU $13.61 0.00%
VZ $46.79 0.00%
AAPL $121.30 0.00%

Markets

Chart of I:DJI
DOW 17,689.86 -56.12 -0.32%
S&P 500 2,103.84 -4.79 -0.23%
NASDAQ 5,128.2810 -0.5040 -0.01%

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