NEW YORK (

TheStreet

) -- The markets were mixed Monday as volume continued to be light.

The

Dow Jones Industrial Average

rose 17.46, or 0.16%, to 10,642.15, while the

S&P 500

rose 0.52, or 0.05%, to 1,150.51. The

Nasdaq

was down 5.45, 0.23%, to 2,362.21.

Gary Kaminsky said on

CNBC

's "Fast Money" TV show that he was mystified as he was Friday about the lackluster market and what is behind it. He thought there would be some kind of move today that would define what would happen in the next two weeks, but it didn't materialize.

For a breakout of some stocks from a recent "Fast Money" TV show,check out Dan Fitzpatrick's "3 Stocks I Saw on TV."

Tim Seymour said tomorrow's Fed meeting could impact the market. He said there continues to be anxiety on the sidelines despite the flow of good data.

Guy Adami also commented on the light trading, noting the disappointing numbers of discount trading firms. He did say he liked

Tiffany's

(TIF) - Get Report

going into earnings next week.

Adami said the S&P is clearly struggling at the 1,150 level with no volume and very little clarity.

Melissa Lee, the moderator of the show, said there is a slow movement away from bond funds into equities. Seymour said a strong argument could be made that the fundamentals and technicals are currently strong enough to move the market higher.

Lee brought in Joshua Rosner, managing director of Graham Fisher, to comment on Sen. Christopher Dodd's (D., Conn.) sweeping financial regulatory overhaul bill.

He said he expects the final bill will be watered down. He said there are simply too many controversial elements in it that will reduce the chances of passage in its current form. He said the resolution authority is somewhat working but he said the idea of giving federal authority over any financial institution with more than $50 billion in assets is unworkable.

He also said the bill doesn't deal with other issues like too big to fail or leverage and capital.

Kaminsky said it's possible that non-U.S. banks will be stronger a year from now if "all of this happens." He said regulators have no idea how these businesses work.

Crude, copper and other commodities fell today on global growth fears. Brian Kelly said China is probably going to have to raise rates because the money supply is out of control. He said he is shorting aluminum and copper as well as China itself through the

iShares FTSE/Xinhua China 25 Index

(FXI) - Get Report

.

Seymour thinks

Exxon Mobil

(XOM) - Get Report

is the best run company in the world. "It's cheap and trading flat year over year," he said.

Lee brought in Deborah Weinswig, an analyst with Citigroup whose upgrade of

Walmart

(WMT) - Get Report

fueled a rally in the stock. Weinswig said she sees strong "vendor support" in 2010 and an aggressive move to discount prices to keep the customers it gained during the recession. She has raised her price target on the stock to $65.

Lee noted that the

Limited Brands

(LTD)

announced a special $1 dividend and a $200 million share buyback program.

Anthony Scaramucci, a partner at Skybridge Capital Management, said there is a "ton of opportunity" for companies to move in this direction. He said that S&P companies are sitting on 14% more cash than in 2009 and that there are a lot of "stunned" investors who want cash in their hands.

He thinks

Exxon Mobil

(XOM) - Get Report

, which is not doing well, will probably increase its dividend or do a buyback. He also said

Pfizer

(PFE) - Get Report

and

Liberty Media

( LSTZA) fall into that category.

With

FedEx

(FDX) - Get Report

set to report its earnings Wednesday, Mike Khouw, an options trader with Cantor Fitzgerald, said he would adopt a defensive posture on the stock, which has enjoyed a runup, by buying a put spread.

Lee brought in Joe Lavorgna, chief economist for Deutsche Bank, said he doesn't expect the

Fed

to do anything at its meeting tomorrow.

Is the market overbrought from a chartist view? Jeff Degraff, head of technical research for ISI, characterized the market as"bullish overbought" and sees it heading to 1,220.

In the trading the globe, Lavorgna said the markets are looking past Greece and assuming that some sort of bailout will be worked out. Seymour said the best play in the situation is Germany through companies such as

Siemens

(SI) - Get Report

,

Syngenta

(SYT)

and

Daimler

( DAI).

Lee brought in Mark Mahaney, a Citigroup analyst, to comment on

Google's

(GOOG) - Get Report

problems in China and reports that it might pull the plug on its Website there. Mahaney said he would buy Google on a pullback on "offsetting positives" such as tomorrow's broadband policy announcement, its mobile and smartphone launches and its aggressive moves in display and video advertising.

Kaminsky agreed, saying Google's decision to withdraw from China is not as important as its other businesses.

In the final trades, Seymour said to sell

Ford

(F) - Get Report

and buy it back at a lower price. Adami said to pick up

Consol Energy

(CNX) - Get Report

, while

Karen Finerman

liked

Boston Scientific

(BSX) - Get Report

. Kaminsky liked

Expeditors

(EXPD) - Get Report

.

-- Written by David Tong in San Francisco

To watch replays of Cramer's video segments, visit the Mad Money page onCNBC

.

"Check out

"'Fast Money'Portfolios of the Week" on Stockpickr every Thursday.

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