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TheStreet Open House

'Fast Money' Recap: Syria, Stocks and the Fed

Guest Dennis Gartman, publisher of the Gartman Letter, said he doesn't think gold is done moving higher. Gold closed above $1,400 on Monday. He added there will likely be resistance at $1,415 and $1,425, with geopolitical tensions helping prices.

Regarding equities, he said bond tapering will not be coming soon because the economic data have been so weak. He added that he was a buyer of Japanese equities and the U.S. equity markets have "piqued" his interests.

Hewlett-Packard (HPQ) was the featured company on the show's "Street Fight" segment. Grasso said the stock is a buy despite no expected revenue growth in 2013. He added that the company is investing in the future and can still go higher, even though it's up over 140% on the year.

Nathan said not to short the stock after its 13% drop last week, adding that Meg Whitman, the CEO, doesn't have any more costs to cut -- meaning the company will not have any way to grow earnings and the stock could go below $20.

Tyson Foods (TSN) was the first stock on the show's "Pops & Drops" segment, dropping 7%. Brown said the stock is a buy.

Home Depot (HD) popped 2%. Nathan said the home improvement trade is slowing and he wants to avoid the name.

Best Buy (BBY) made a new two-year high but Adami said he'd be extremely cautious with the stock at these levels.

CH Robinson Worldwide (CHRW) popped 3% on Monday. Grasso said the stock needs to stay above $60 for a couple of days before he becomes a buyer.

Grasso said Exxon Mobil (XOM) has a decent entry point here, near its 52-week lows and the bottom of its range. He added that geopolitical risk could be a catalyst for higher prices.

TripAdvisor (TRIP) is completely overvalued, according to Brown, who said momentum traders should find support near $70. If that level fails, he said traders should get out of the name.

Nathan said to buy Lorillard (LO) and Reynolds American (RAI) if you want to be long the e-cigarette market and get a solid dividend yield.

Adami said he thinks Deere (DE) should trade back up to $90, especially if it breaks above $85 sometime soon.

For their final trades, Grasso was a buyer of Tesla and Nathan was taking profits in Microsoft (MSFT). Brown was a buyer of 3D System (DDD) and Adami said to buy Newmont Mining (NEM).

-- Written by Bret Kenwell in Petoskey, Mich.

Follow on Twitter and become a fan on Facebook.

Bret Kenwell currently writes, blogs and also contributes to Robert Weinstein's Weekly Options Newsletter. Focuses on short-to-intermediate-term trading opportunities that can be exposed via options. He prefers to use debit trades on momentum setups and credit trades on support/resistance setups. He also focuses on building long-term wealth by searching for consistent, quality dividend paying companies and long-term growth companies. He considers himself the surfer, not the wave, in relation to the market and himself. He has no allegiance to either the bull side or the bear side.
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