NEW YORK (

TheStreet

) -- The markets rallied Thursday on some encouraging U.S. economic data.

The

Dow Jones Industrial Average

jumped 112.92, or 0.96%, to 11,893.86. The

S&P 500

added 10.60, or 0.86%, to 1239.70. The

Nasdaq

rose 3.50, or 0.13%, to 2625.15.

The

CNBC

's "Fast Money" TV show started with the focus on

Apple

(AAPL) - Get Report

, which was down 2.6% today on reports of a drop in supplier orders and potentially weak iPhone 4s sales.

Brian Kelly said he still likes Apple, but he wondered whether the company can get two catalysts going: enterprise spending and 4G conversion.

Guy Adami said he wasn't concerned about Apple, but said he would be if falls below $360. Joe Terranova said a battleline has emerged with one camp of analysts seeing growth slowing, while the other camp saying nothing is wrong.

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

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Terranova, who has been reducing his position in Apple, said the stock is technically pulling back. He said investors have to respect the price action of the stock, which has had difficulty moving past the resistance level of $409. He said the stock is "pointing down" after breaking through its 50-day moving average.

Tavis McCourt, managing director and senior analyst at Morgan Keegan, said

Amazon.com

(AMZN) - Get Report

will certainly take a little share with its Kindle Fire, but the iPhone shows no signs of slowing down. He said Apple remains one of the few companies that can grow in double-digits in 2012.

McCourt said

Qualcomm

(QCOM) - Get Report

was a safe chip play in the smartphone and tablet markets.

As for the overall market action, Tim Seymour was disappointed with the trading action, especially "if you wanted a rally." He said he expects the S&P to trade in the range of 1225 and 1275.

Adami said Friday will be a make-or-break day in determining where the market is headed in the next couple of weeks.

Melissa Lee, the moderator of the show, shifted the discussion to

Walt Disney

(DIS) - Get Report

which beat estimates. Adami said the stock has had a nice run but has been on a defined downward trend and would take profits at $36.50.

Terranova attributed the beat to lower analyst expectations. He said he would be listening closely in the conference call to see what Disney's plans are for its largest operations.

Lee said

Research In Motion

( RIMM) was about to lose

Google

(GOOG) - Get Report

as a partner in providing email for the Blackberry. Meanwhile,

Omega Advisors

CEO Leon Cooper has picked up 1.4 million shares of RIM.

James Faucette, an analyst with Pacific Crest, said the stock will be a value play over the next couple of quarters, but he wonders whether the company will be around in four to five years. He sees the company's earnings power weakening. He also said it continues to bleed U.S. subscribers and faces problems getting developers to warm to its new operating system.

Lee asked the panel for their take on

Barnes and Noble's

(BKS) - Get Report

, which has rallied 30% since Monday. Kelly, with a dim view of the company, said Barnes and Noble is a book-selling company that is trying to become a technology company, with price being its best competitive edge. He did not think much of that strategy.

Terranova described the rally as a "classic short squeeze." Adami said he would short the stock at $16, while Weiss said he would take advantage of the short squeeze to sell the stock.

In afterhours trading,

Nvidia

(NVDIA)

, was rising, 4%. Dan Berenbaum, an analyst with MKM Partners who was listening to conference call, said the earnings report had its pluses and minuses. He said Nvidia beat estimates but its guidance was disappointing.

He said Nvidia will see slow growth at best as it faces a lot of competition in the chip space. He said it was worrisome to see it guided flat in mobile for the second consecutive quarter.

Shifting to the Volatility Playbook, Alex Panagiotidis, of Stern Agee & Leach, said he sees the VIX moving a lot between now and the end of the year because of the unraveling European debt situation. However, he doesn't see the VIX moving below 26 to 27 and would be buyer of it if falls below that floor.

Oil moved closer to $98 a barrel today. Dan Dicker, a senior contributor for

TheStreet

, attributed the rise to a "distinct tightness" in the distillate market, especially in Asia and the U.S. He also said a good deal of the rise of the WTI is due to the tightening of the spread between the WTI and Brent. He said most investors are playing the spread and not the fundamentals.

He said names such as

Apache

(APA) - Get Report

and

Anadarko

(APC) - Get Report

hold value.

Lee said

Starbucks

(SBUX) - Get Report

bought

Evolution Fresh

, a premium juice brand, for $30 million. Terranova called it a great strategic move for Starbucks, which plans to develop a retail concept around the product.

In the final moves, Weiss liked

HP

(TLT) - Get Report

. Seymour said to stay long volatility, while Adami favored Starbucks. Kelly said he was buying VIX puts. And Terranova liked

Hess

(HES) - Get Report

.

--

Written by David Tong in San Francisco.

>To contact the writer of this article, click here:

David Tong

.

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