This Day On The Street
Continue to site
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: Rally's Mixed Signals

NEW YORK ( TheStreet) -- The markets started the new year on a strong note on strong U.S. economic data.

The Dow Jones Industrial Average jumped 179.82, or 1.47%, to 12,397.38. The S&P 500 added 19.46, or 1.55%, to 1277.06. The Nasdaq jumped 43.57, or 1.67%, to 2648.72.

Joe Terranova said on CNBC's "Fast Money" TV show that he didn't trust today's rally. He said he would need to understand what the upcoming corporate earnings story will be and whether the ECB will be buying soverign debt. He also said it doesn't look good with oil trading at $103 a barrel.

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

Tim Seymour was optimistic about today's rally. He liked what he saw globally, with the unemployment rate in Germany the lowest it's been since the reunification, China and India providing the world the growth it needs and the U.S. economy "clicking on all cylinders."

But Seymour said the strength of the dollar could be the "wrecking ball" for risk assets. Still, he was encouraged to see investors putting money to work at the start of the year.

Guy Adami said it was important to see the S&P close above 1265 because it sets the stage for the index to move to 1350. He also noted the strength of McDonald's (MCD - Get Report), which hit an all-time high before closing lower for the day.

Karen Finerman was skeptical of the rally because nothing fundamentally, including the situation in Europe, had changed.

Mike Khouw observed that there may be rotation going on as money shifts to sectors such as utilities and health care.

Mary Ann Bartels, of Bank of America-Merrill Lynch, said she didn't see much long-term conviction in the rally. She pointed out that the S&P was testing its 200-day moving average for fourth time and testing its 10-month moving average at 1276.

She said the channel for the 10-year Treasury yields is still in the decline while the dollar is breaking to to upside. She said the S&P could still test the October lows of 1100.
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
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $93.65 -0.66%
EEP $14.76 -5.40%
MCD $116.67 -0.74%
PNC $78.15 -4.10%
STI $31.36 -4.50%


Chart of I:DJI
DOW 15,660.18 -254.56 -1.60%
S&P 500 1,829.08 -22.78 -1.23%
NASDAQ 4,266.8370 -16.7550 -0.39%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs