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
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

'Fast Money' Recap: Still in a Bull Market

NEW YORK (TheStreet) -- The S&P 500 tacked on more gains on Wednesday, closing up 0.52%. 

On CNBC's "Fast Money" TV show, Tim Seymour, managing partner of Triogem Asset Management, said the macro-economic data remain encouraging. 

Anthony Scaramucci, founder and co-managing partner of SkyBridge Capital, said equities are still in a bull market. He added that earnings have been decent so far and that investor activism could increase in the first quarter. 

Steve Grasso, director of institutional sales at Stuart Frankel, said the financial sector is pushing the market higher and that most investors do not want to get in front the upward momentum from the short side.

Bank of America (BAC) beat on top- and bottom-line estimates. Jon Najarian, co-founder of optionmonster.com and trademonster.com, said the stock blew through its previous 52-week high on large volume and could hit $20 by the end of the first quarter. 

Seymour said the stock has more room to go because it only trades at 1.2 times price-to-tangible-book value. He added that rising interest rates should help increase profitability. 

Grasso pointed out that rising litigation costs are a concern but investors seem to be putting them in the "rear-view mirror." 

Scaramucci is more concerned with the fact that mortgage originations dropped by 50%. He added they would likely continue to fall as interest rates rise. However, he said small business lending should pick up this year and BAC has a solid long-term growth story. 

1 of 3

Select the service that is right for you!

COMPARE ALL SERVICES
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 17,106.63 -6.91 -0.04%
S&P 500 1,986.84 +3.31 0.17%
NASDAQ 4,472.3370 +16.3210 0.37%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto
Advertising Partners

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