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NEW YORK (
TheStreet) -- The
Dow Jones Industrial Average broke through 13,000 on Tuesday on a rise in consumer confidence.
The Dow gained 23.61, or 0.18%, to 13,005.12. The
S&P 500 was up 4.39, or 0.32%, to 1371.98. The
Nasdaq jumped 20.60, or 0.69%towas up 2.41, or 0.08%, to 2966.16.%,2,986.76.
Guy Adami said on
CNBC's "Fast Money" TV show that he sees the S&P heading up another 50 points or so.
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
Keith McCullough expressed concerns about the underperformance of the transports and housing. Dennis Gartman also was leery of the transports and the impact of oil prices on airlines.
Apple(AAPL) surpassed $500 billion in market cap in after-hours trading.
Melissa Lee, the moderator of the show, said Apple's spectacular rise has overshadowed a number of stocks that have actually turned in a better performance in the past three years. They included
Humana(HUM), with an annualized three-year return of 315%;
Las Vegas Sands(LVS), 185%;
Ulta(ULTA), 146%; and
Lee brought in Douglas Yearley, CEO of
Toll Brothers(TOL) to comment on the signs of life coming from the housing industry.
Yearley said the beginning of the spring housing season felt great. He said his company reported a 45% jump in orders in the first quarter and a 35% increase in backlog. He said the clientele is strong, with 20% of the buyers purchasing in cash and the remaining putting down a sizable downpayment.
He said New York has been its best performing market, although it is looking for opportunities across the country.
Adami said Toll Brothers still trades in a defined range, adding his pick in the space would be
For the month-end playbook, McCullough says he is long inflation and short growth. He said he would be long the
iShares Barclays TIPS Bond Fund(TIP) and gold. With growth slowing, he said he would own the Select
Sector SPDR Fund(XLU) for the dividend yield.
In a new segment called the "Fast Money Portfolio," Scott Minerd, chief investment officer at Guggenheim Partners, laid out his long-term investment strategy.