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: Trading Dow 13,000

NEW YORK ( TheStreet) -- The markets pulled back Tuesday after the Dow Jones Industrial Average briefly touched 13,000 before retreating.

The Dow rose 15.82, or 0.12%, to 12,965.69. The S&P gained 1.03, or 0.08%, to 1362.26. The Nasdaq retreated 3.21, or 0.11%, to 2948.57.

Melissa Lee, the moderator of CNBC's "Fast Money" TV show, turned the trading panel's attention to Dell (DELL), which was down 4.67% after an earnings miss.

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

Stephen Weiss said Dell was hurt by western Europe and a slowdown in federal government spending. He said the stock trades like a commodity business and that he would rather be in newer tech names.

But Guy Adami said he believes Dell's story remains intact and its valuation compelling. He said the stock looks interesting at $16.75 and $17.

Joe Terranova also said Dell looks interesting at $16.25, its 50-day moving average. He said the company should use some of its plentiful cash to make an acquisition, preferably in software.

CNBC reporter Jon Fortt, who was listening to the Dell conference call, said the company took a hit from the floods in Thailand, which prevented it from getting the mix of drives it needed, as well as price competition in the public sector and lower federal government spending. On the other hand, Dell reported gains in services and IP storage.

Does the Dow 13,000 carry much significance? Weiss said the milestone is an important psychological level for retail investors that could signal the flow of money into stocks and stock funds. He said it's certainly more interesting than investing in a 2% 10-year bond.

Guy Adami detected a double-top pattern emerging in the S&P, which is pushing toward 1370, and certain stocks that sets up for a short position in both.

Joe Terranova credited the rally to the move up by laggards like Alcoa (AA) and Bank of America (BAC). He also considered the S&P more important than the Dow.
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
AAPL $121.30 0.00%
HD $117.03 0.00%
JWN $76.31 0.00%
M $69.06 0.00%
TTM $29.66 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%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs