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
TheStreet Open House

'Fast Money' Recap: Momentum Stocks Gain Traction

NEW YORK (TheStreet) -- That selloff didn't last long. The S&P 500 roared back on Tuesday, closing higher by 1.10%.

On CNBC's "Fast Money" TV show, Dan Nathan, co-founder and editor of, said the momentum stocks of 2013 started to gain traction on Tuesday. He added that large-cap tech looks good and the 10-year Treasury yield fell below 3%. 

Brian Kelly, founder of Brian Kelly Capital, agreed that large-cap tech looks good. He said a name like Cisco Systems (CSCO) has a low valuation and solid dividend yield of 3%. 

Guy Adami, managing director of, was surprised the market rallied today. Specifically, he said Apple (AAPL) is setting up nicely and looks poised to run to $585. 

General Motors (GM) announced a 30 cents per share quarterly dividend. Karen Finerman, president of Metropolitan Capital Advisors, said it gives the stock a roughly 3% dividend yield, in line with Ford's (F) current yield. She added that GM is her top pick because of its upside. 

Adami disagreed and said that at current levels, he is a buyer of F. He also likes BorgWarner (BWA). Nathan said he's long both, but sold F on Tuesday. He is still long GM. 

Kelly said he would take profits in GM at current levels because the dividend was largely expected by shareholders. 

Finerman said there was a lot of "noise" in JPMorgan Chase's (JPM) earnings report. She said its investment banking business didn't do very well, which could be a warning of what the market could see for Goldman Sachs (GS) and Morgan Stanley (MS)

Kelly said he would be cautious of the entire financial sector at current levels because of how well it has done over the past year. Adami thought it was "concerning" JPM closed flat on the day after opening near session highs on a pretty good earnings report. 

Christopher Danely, managing director at JPMorgan, upgraded shares of Intel (INTC). He said that as production increases, he believes it will take market share from Taiwan Semiconductor Manufacturing (TSM). He added that margins should not suffer going forward. INTC's success is based on a stabilizing PC market and CEO Brian Krzanich. 

At current levels, Kelly like TSM over INTC. Nathan said he would not get into INTC ahead of earnings later this week because the stock made new 52-week highs on Tuesday. Adami said his top pick in the space is Qualcomm (QCOM)

Shares of Tesla Motors (TSLA) rocketed by 16% on Tuesday when it reported delivering 6,900 units in the fourth quarter, 20% higher than its guidance. CEO Elon Musk said the company will be producing 800 vehicles per week, at a minimum, by the end of the year. 

Ben Kallo, senior research analyst at R.W. Baird, upgraded the stock today before the big move. He said sentiment about Tesla stock is once again changing and becoming more optimistic. With a high short interest, the stock could ratchet higher rather quickly as short-sellers begin to cover. Analysts are looking for TSLA to deliver 29,000 vehicles next year. He believes the company could do 30,000 to 33,000. He has a $187 price target. 

Kelly complimented Kallo on calling the top in TSLA last year. He agreed that he would be a buyer, even after the huge move higher. 

1 of 2

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

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
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, 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
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,172.68 -107.06 -0.62%
S&P 500 1,994.29 -16.11 -0.80%
NASDAQ 4,527.6890 -52.10 -1.14%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs