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) -- The roller-coaster ride on Wall Street continued Monday.

The day started off on an encouraging note, with a good pending-home sales report, a good earnings report from


(F) - Get Ford Motor Company Report

and a better-than-expected manufacturing report from the Institute for Supply Management.

All that was undone by a Fed official who warned about the impact of large loan losses on banks. In another twist, the financials recovered later in the day.

By the end of the trading session, the

Dow Jones Industrial Average

was up 76.71, or 0.79%, to 9,789.44, while the

S&P 500

added 6.70, or 0.65%, to 1,042.88. The


rose 4.09, or 0.205%, to 2,049.20.

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

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TheStreet Recommends

3 Stocks I Saw onTV

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Karen Finerman said on


's "Fast Money" TV show that today's economic data was the kind of solid data she was looking for to see where the economy was heading, and not last week's backward-looking GDP number and soft consumer confidence number.

Tim Seymour agreed, saying "we had the recipe for a tremendous rally but we didn't get it." He wondered whether the data was forward looking enough and whether there is enough momentum after the earnings season to push the market higher.

Joe Terranova pointed out how the market looks weak from a technical standpoint. However, he said he was encouraged by the action at the end of the session because there was no follow-through selling below Friday's low. He said he still believes the correction will be modest.

Guy Adami said the market should have gone up 300 points. He said that when the market turned to the downside, he thought it was going to accelerate to the negative. He said it didn't but he nonetheless believes investors should be looking for opportunities to short stocks.

Seymour said Wednesday will be the big day when the market will be looking for any change in the

Federal Reserve

's position on interest rates.

Melissa Lee shifted the discussion to the financials, which were whipsawed today. Terranova said he would stick to a best-of-the-breed stock like

Goldman Sachs

(GS) - Get Goldman Sachs Group, Inc. Report

in this confusing environment. Lee, though, wondered whether Goldman could be relied on to be a bellwether for the sector, since it seems to running into some resistance at its 40-week and 200-week moving averages.

Lee brought in Jim Suva, a Citigroup analyst, who talked about his upgrade to buy of



. Suva said the call was based on a flow of positive news from the company, including a new carrier announcement, new product launches and a move from a position of low expectations to some gains in market share in the competitive smartphone market.

Suva said Motorola's launch of the Droid with the Google Android 2.0 operating system comes with 12,000 applications and a lot of carrier support.

He said he dowgraded

Research In Motion


because Verizon, its biggest supporter, is "now dancing" with Motorola.

He said the real price wars will come when carriers battle each other to get consumers to trade in their traditional "feature-only" phones for smartphones that carry voice and data.

Lee invited Doug Kass, a

columnist and general partner of Seabreeze Partners, to talk about the direction of the market. Kass said the future looks grim, as the country undergoes a transformation to a situation where debt will grow faster income.

He told Adami that he's scared the nation is flirting with lower living standards marked by high tax rates and low growth rates. He said he doesn't believe the country is about to embark on a new business or market cycle.

He said the good news is that the valuation of stocks is not particularly stretched because they were not overexploited as an asset class. He said he is looking a shallow recovery in 2010.

For a look at the economy and Friday's jobless report, Lee brought in Mark Zandi, chief economist of Moody's

. Zandi said he expects Friday's jobless report will show a loss of 175,000 jobs and better-than-even odds of a 10% unemployment rate. He said the nation is moving in the right direction but acknowledged there is a lot of suffering among the jobless.

He agreed with the panel that much of the growth is being stimulated by the government through transfer payments, tax cuts and stimulus-related programs.

He said he expects some some salary growth next year, but he said the country really needs to see a lot more job growth. He expects the jobless rate to hit 10.5% in June or July 2010 and not get into single digits until 2011 to 2012.

Rich Greenfiled, analyst for Pali Capital, came on the show to talk about his favorite media picks. His favorite is


(VIA) - Get Via Renewables, Inc. Class A Report

because its Paramount unit is doing well and its cable operations are performing better than expected.

He also liked

Discovery Communications

(DISCA) - Get Discovery, Inc. Class A Report

. He said Oprah is voicing one of its


series in the first quarter and she is set to launch her own network for Discovery in the middle of 2010. He said it's a well-managed company with a good global footprint.

Greenfield was down on

Walt Disney

(DIS) - Get Walt Disney Company Report

, questioning the amount of money it paid for

Marvel Entertainment


and the discounting going on at its theme park business.

Lee noted


(CLX) - Get Clorox Company Report

finished higher today on sales of its disinfectant for swine flu. Fiinerman liked the stock, saying Clorox would be a "great place to go" if swine flu becomes widespread.

Charles Gasparino,


editor, said the root cause for the financial crisis was the government's decision to bail out the troubled banks that had taken excessive risks. "There was no lesson taught," he said.

Lee brought Joseph Papa, CEO of Perrigo, whose generic drug company got a 3% pop after it reported a 61% increase in profits. He told the panel that there is a still room for more growth because generic drugs account for only 25% of the market compared with 15% 10 years ago.

He also said the fourth quarter looks good because the company figures to benefit from swine flu-related product sales.

In the final trades, Seymour liked



. Adami liked


(CLX) - Get Clorox Company Report

. Finerman liked

Children's Place

(PLCE) - Get Children's Place, Inc. Report

. And Terranova said he liked

Joy Global


under $50.

-- 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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