'Fast Money' Recap: Building on a Housing Recovery
NEW YORK (TheStreet) -- U.S. equities rallied once again on Tuesday, with the S&P 500 climbing 0.50%.
On CNBC's "Fast Money" TV show, the trading panel took a look at the housing recovery.
Brian Kelly, founder of Brian Kelly Capital, said the housing market does appear to be recovering following its "spring slump" earlier in the year. If housing and the economy continue to improve in the second half of 2014, then bonds seem to be mis-priced.
Tim Seymour, managing partner of Triogem Asset Management, said the housing market is not near its peak and that bodes well for companies like Home Depot (HD) and Lowe's (LOW) . Easing credit standards should also give a boost to the housing market.Read More: Warren Buffett's Top 10 Dividend Stocks Guy Adami, managing director of stockmonster.com, called Home Depot a better company than Lowe's. Home Depot is a buy on a pullback. Dan Nathan, co-founder and editor of riskreversal.com, told investors to buy individual companies tied to the housing market, not the SPDR Homebuilders ETF (XHB) , which has many retail-based components in the fund. William Power, research analyst at R.W. Baird has an outperform rating on Apple (AAPL) and a $105 price target on the stock. He said he has no immediate plans to boost his price target, but it's good to see the stock with upward momentum. He suggested that the new iPhone should break its previous opening weekend record of nine million handsets, while December should be another strong quarter, with possibly 60 million units sold. Kelly, who is short Apple, reiterated that his stop-loss is at $101. While investors continue to push the stock higher, he argues that all of the known positive news seems priced into the stock. Nathan said that "expectations are getting very, very high," for Apple as the stock continues its upward movement. Investors buying the stock now must be pretty confident in new products and services from Apple. Read More: For BHP Billiton, Breaking Up Isn’t Hard to Do Seymour suggested that while Apple has had a big move to the upside, the stock still trades with a reasonable valuation.
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