NEW YORK (
) -- The markets rose Wednesday as commodities continued to surge.
Dow Jones Industrial Average
rose 38.45, or 0.31%, to 12,394.66. The
added 4.28, or 0.33%, to 1320.56. The
gained 15.22, or 0.55%, to 2761.38.
Joe Terranova said on
's "Fast Money" TV show that the commodities trade was showing signs of life and those sensing a downward momentum were on the "wrong trade."
For a breakout of some stocks from a recent "Fast Money" TV show, check out Dan Fitzpatrick's "3 Stocks I Saw on TV."
3 Stocks I Saw on TV
var config = new Array(); config<BRACKET>"videoId"</BRACKET> = 958411249001; config<BRACKET>"playerTag"</BRACKET> = "TSCM Embedded Video Player"; config<BRACKET>"autoStart"</BRACKET> = false; config<BRACKET>"preloadBackColor"</BRACKET> = "#FFFFFF"; config<BRACKET>"useOverlayMenu"</BRACKET> = "false"; config<BRACKET>"width"</BRACKET> = 265; config<BRACKET>"height"</BRACKET> = 255; config<BRACKET>"playerId"</BRACKET> = 1243645856; createExperience(config, 8);
Terranova said he saw opportunities in the refining space and would use
as reference points.
Tim Seymour said the upgrade on copper was made not only by Goldman Sachs but also other firms. He also said China's oil demand in April was up 9%, the third highest ever.
Guy Adami said
was setting up to move higher if the S&P moves above 1325.
Karen Finerman said today's market action was more month-ending window dressing and agreed with the other panelists that commodities are being driven by a supply-demand dynamic.
Seymour said he preferred the copper trade over the oil trade because it is more supply-constrained. He also expects
and Baker Hughes to move higher in the drilling space.
Looking at the volatile silver trade, Adami said silver has been bouncing around the bottom since May 5. He said silver is going to catch a lot of people off guard by making a move up to $50 an ounce and beyond.
Terranova agreed, saying the absence of speculation since the scare over the 21% drop in silver off its 31-year high in April will send the metal on its way to $50.
But Seymour cautioned that silver was a "mirage rally" for a lot of people. He said silver has seen its high for year and that he wouldn't be chasing after silver. Instead, he said he was sticking to the "old-fashioned" commodity trades like copper and oil.
Melissa Lee, the moderator of the show, shifted to the retail space, where
was down more than 11%. Brian Sozzi, Wall Street Strategies analyst, said the retailer has been unable to raise prices accordingly to compensate for a jump in costs.
He singled out Macys as an exception in retail, noting its valuation is compelling. He also liked
. On the other hand, he said investors should pay attention to the worst stories and business models in the space, including such names as
In a fast flash segment, Lee noted that
enjoyed a pop today after
reported that Facebook's Mark Zuckerberg had talked with Netflix about social media.
Adami lamented on the difficulties of trading Netflix, which continues to defy short sellers by climbing higher. He said those who short the stock for personal reasons are fighting a losing battle. He said he can't advocate buying or shorting the stock. Seymour, though, added a word of caution, saying the stock is trading at 74 times earnings.
, which down 4.62% a day after the pricing of its secondary offering, Gary Kaminsky said someone would say it traded OK today. He said the real question now is finding out who the long-term buyers are and what their outlook is. Other unknowns included AIG's book value and earnings power.
Looking ahead to
, worldwide developers conference on June 6, Gene Munster, a Piper Jaffray analyst, said the stock continues to rise despite delay issues because people want to buy Apple's products. He expects Apple to earn $48 a share in 2014 and called the stock "dirt cheap," adding it's "a great time to own it."
Munster said Apple expects to sell 75 million phones and 35 million iPads. That's in addition to a 60 percent growth rate in the iPhone and plenty of growth ahead since its phones account for 18% of the mobile and smartphone market, he added.
According to Munster, the "real multiple for Apple" is higher than what it is now. He said the next big driver for the stock could be a real TV.
Still, Adami said the price action in Apple has been a little disappointing the last month and a half.
In the trading the globe segment, David Riedel, of Riedel Research, said he expects the most exciting thing from next week's G8 Summit will be a move by the group toward a Marshall Plan for North Africa.
He expects a G8 commitment for investment debt forgiveness and trade ties and support for emerging economies and democracies in the region. He said investors should keep an eye on the big companies in Europe and the U.S. that are expanding into the region.
From this week's health care playbook, Karen Finerman focused on two health care stocks. One was
, which makes diagnostic and surgical equipments. She said the stock has great recurring revenues and excellent margins. She said the stock, which closed today at $29.05, should be in the mid-$30's.
The second pick was
, which dispenses drugs to assisted living and skilled nursing facilities.
She said the company should benefit from a new CEO after a down period when the company was caught up with a lot of insider dealing. She said Omnicare, which closed at $31.60 today, should move up to the mid-$30's.
In a brief segment on vacation travel, Patrick Scholes, FBR Capital Markets analyst, said hotel books for the summer look very encouraging despite $4-a-gallon gas.
His top picks in the leisure space included
--Written by David Tong in San Francisco.
To contact the writer of this article, click here:
To follow the writer on Twitter, go to
To submit a news tip, send an email to:
To watch replays of Cramer's video segments, visit the Mad Money page on CNBC
Follow TheStreet.com on
and become a fan on