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: Wait-and-See Market

NEW YORK ( TheStreet) -- The markets closed mixed Wednesday on reports of a second eurozone bailout fund.

The Dow Jones Industrial Average was up 46.24, 0.38%, to 12,196.37. The S&P 500 rose 2.54, or 0.20%, to 1261.01. The Nasdaq was down 0.35, or 0.01%, to 2649.21.

With the European summit meeting looming at the end of the week, Joe Terranova said on CNBC's "Fast Money" TV show that the markets have taken a wait-and-see look. Still, he was positive about the chances for the S&P breaking through its 200-day moving average and moving higher.

Brian Kelly characterized the market as underinvested and filled with headline risks coming out of Europe.

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

Dennis Gartman said he believes European leaders will succeed in "kicking the can down the road."

Joe Terranova said the euro is trading well because it has become the proxy for the deutsche mark. He said Germany will prevail as the strongest country in Europe in mid-2012 while Greece and Portugal will exit the eurozone.

Melissa Lee, the moderator of the show, brought in Patrick Doyle, CEO of Domino's Pizza (DPZ), which was up 5% in the past week and 109.78% year to date.

She said the pizza delivery company took 1 million online orders the week after Thanksgiving. Doyle said his company hopefully will see one day digital orders exceed brick-and-mortar orders.

He said the trend is positive because those who order online order more, the tickets are higher and the operating costs lower. He said commodity costs have eased, noting the price of cheese has declined to $1.68 a pound from $2 a pound.

Lee noted that the financals were one of best performers of the day. Kelly attributed the rise to the alleviation of European pressure, chatter about some movement in the housing sector and signs that the economy is starting to turn.

Jeff Palma, a global equity strategist for UBS, said his firm is predicting a deep recession for Europe in 2012 that will have a limited impact for the rest of the globe.
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
Dividend Stock Advisor

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
SYM TRADE IT LAST %CHG
X $19.78 0.00%
AAPL $126.44 0.00%
FB $87.28 0.00%
GOOG $523.40 0.00%
TSLA $280.02 0.00%

Markets

DOW 17,730.11 -27.80 -0.16%
S&P 500 2,076.78 -0.64 -0.03%
NASDAQ 5,009.2140 -3.9090 -0.08%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs