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
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

'Fast Money' Recap: Sizing Up the Rally

NEW YORK (TheStreet) -- The markets rallied Tuesday off an encouraging start to the earnings season.

The Dow Jones Industrial Average jumped 69.78, or 0.56%, to 12,42.47. The S&P rose 11.37, or 0.89%, to 1,292.07. And the Nasdaq was up 25.94, or 0.97%, to 2,702.50.

Tim Seymour said on CNBC's "Fast Money" TV show that he believes in this rally. He said Europe is not that "much of a basket case," adding there is good U.S. data and evidence that China is doing a lot more to get its economy moving.

Joe Terranova, who had been in a defensive posture going into this year, detected a shift in the market, with some of last year's laggards such as industrials, financials and homebuilders leading the current charge. He also said the market is repricing Europe so that it doesn't have a negative onus on the markets.

Terranova said he is not so much risk-on as he is being less defensive at the start of the year.

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

Dan Nathan was not so optimistic about the rally, saying the higher the market goes, the bigger the drop for the remainder of the year.

Mike Khouw said in many instances investors have been trying to catch a pop in stocks like Bank of America (BAC) and Netflix (NFLX) that had been down for quite a while. But he said it's hard to believe Bank of America's troubles are behind it.

For a technical perspective, Chris Verrone, head of technical analysis for Strategas, said the markets do look a little better, with the S&P taking a good shot today at 1293.

However, he said he wouldn't be surprised if there is pullback, in which case he would stick to mega-caps, which usually come on strong when the market is late in the cycle. He especially liked two mega stocks: Intel (INTC) and Pfizer (PFE).

Melissa Lee, the moderator of the show, noted a Bloomberg report saying that Microsoft's (MSFT) PC shipments might be worst than expected because of floods in Thailand.

1 of 3

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

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
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, 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
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,122.01 +15.31 0.09%
S&P 500 2,000.12 +0.10 0.00%
NASDAQ 4,569.6210 -1.0160 -0.02%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs