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'Fast Money' Recap: A Market in Rally Mode

PVH Corp. (PVH) beat on the top and bottom lines, too, but Finerman said she would rather own Macy's (M) because PVH expressed concern over the global consumer.

Tenet Healthcare (THC) was the first stock on the show's "Pops & Drops" segment. Kelly said Monday's low could act as a stop-loss level for longs.

Tesla Motors (TSLA) was down 4% on Monday and Parets said this name is for the very disciplined trader and is one he wants to avoid.

Expedia (EXPE) popped 2%. Khouw said the valuation makes the stock interesting at these levels.

Molex (MOLX) ripped 31% and Adami said he doesn't expect more acquisitions in the sector, but thinks Amphenol (APH) will be the big winner.

One of Finerman's recommendations, Navios Maritime (NM), popped 5% and she said she might actually like Navios Maritime Acquisition Corp. (NNA) more now after NM's big move.

Wal-Mart (WMT) was the featured stock on the show's "Street Fight" segment. Adami defended the stock, saying that although sales have been disappointing, margins are improving. He added that the stock is cheap on a historical basis and the market seems to have priced in a slowdown in sales.

Parets took the bearish side and said the chart looks terrible. He added that while the broader market has had a terrific year, Wal-Mart has failed to perform well and the momentum has been weak.

Dennis Gartman, publisher of The Gartman Letter, was a guest on the show and said Japan's hosting of the 2020 Summer Olympics would have a negative effect on the economy over the long term. However, it should give a boost to GDP, especially as new infrastructure gets built out. He remains long the Nikkei and short the yen.

Herbalife (HLF) was the first stock on the show's "Trending Trades" segment. Shares are is up almost 100% on the year. Parets said this is a good stock to buy on a technical basis and with big investors in the name.

Hovnavian Enterprises (HOV) missed on the top and bottom lines and Khouw said he's still not a fan of the homebuilders on a valuation basis.

Finerman said Discover Financial Services (DFS) has more going for it than transaction fees thanks to its credit exposure. She said the stock is semi-compelling on a valuation basis and might be worth a look.

Khouw said Nokia (NOK) will now be a networking equipment and mapping company, and actually seems like a better business than before.

Kelly said he expects a small taper from the Federal Reserve of about $10 billion per month, with $15 billion as the max. He added that at one point it seemed like the market priced in a $25 billion taper.

Adami said he would own Principal Financial Group (PFG) into the analyst day on Friday and then sell it. He added that he would rather own Raymond James Financial (RJF) instead.

Parets said traders could be long Cree (CREE) above $53.80.

For their final trades, Finerman said to buy Foot Locker (FL) on retail weakness, Khow was a buyer of Deere & Co. (DE) and Kelly was buying the SPDR Gold Trust ETF (GLD). Parets said to buy natural gas and Adami was a buyer of Chicago Bridge & Iron Co. (CBI).

-- 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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