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 @BretKenwell Follow TheStreet.com on Twitter and become a fan on Facebook.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- 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 + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV