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NEW YORK (

TheStreet

) -- The markets could be headed up Tuesday on the strength of

Apple

's

(AAPL) - Get Apple Inc. Report

crushing earnings report.

At the close of trading Monday, the

Dow Jones Industrial Average

had jumped 96.28, or 0.96%, to 10,092.19, while the

S&P 500

had gained 10.23, or 0.94%, to 1,097.91. The

Nasdaq

had added 19.52, or 0.90%, to 2,176.32.

Melissa Lee, the moderator of

CNBC

TheStreet Recommends

's "Fast Money" TV show said Apple soared to all-time high of $204.60 in after-hours trading on a earnings report in which she said Apple beat on every metric in its report.

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 onTV

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Peter Najarian said the only area Apple could improve on is overseas sales, which accounted for only 46% of its total sales. He said that could be an incredible upside opportunity for Apple.

Joe Terranova said he was impressed with the 70% jump in Mac sales as an indication of the strength of consumer spending.

Guy Adami said that if the trading volume on the stock hits north of 50 million shares Tuesday, it may be time to take some profits or short the stock.

Jim Goldman, a

CNBC

reporter who was listening in on the conference call, said Apple's numbers were "phenomenal." He said Apple is even offering revenue guidance is in right in line where analysts are expecting.

Najarian said the 3 million Mac sales reconfirms the thesis that consumers are willing to pay a premium for a good product.

Goldman said the company said in the conference call that the iPhone will be available in China later this month. He also said Apple's gross-margin guidance came in at 34% compared to 34.8 percent from the consensus of analysts.

Lee said

Texas Instruments

(TXN) - Get Texas Instruments Incorporated Report

also was up in after-hours after a strong quarter. Adami said Texas Instruments has a lot of good things going for it. Terranova said Texas Instrument and Apple results set up well for

Broadcom

undefined

.

Lee said oil rose above $79 a barrel today as the U.S. dollar index hit another low. Terranova said it wasn't only oil but the entire commodity space that was moving higher today, including copper, agriculture and some natural gas names. Adami said

Apache

(APA) - Get APA Corp. Report

was the best name energy today and thinks it will hit $120. It closed at $104.06 today.

Najarian said

Caterpillar

(CAT) - Get Caterpillar Inc. Report

led the market all day. "Commodities and the dollar: that's the trade," he said.

Lee brought in Whitney Tilson, managing director for T2 partners, for his comments on today's market action. Tilson said it's time to play defense, saying stocks have been priced for a pretty robust economy when the evidence shows that the economy looks feeble.

He said he is hedging some financial stocks like

Wells Fargo

(WFC) - Get Wells Fargo & Company Report

,

American Express

(AXP) - Get American Express Company Report

and some regional banks. He said the banks are still wrestling with a weak housing market that will soon feel the impact of rising foreclosures. He said his favorite short area is homebuilders.

Lee brought in Brian Goldner, CEO of

Hasbro

(HAS) - Get Hasbro, Inc. Report

whose stock was down on a revenue miss.

Goldner was pressed by the panel on its reliance on the movie toy business and the strength of its girls' and preschool toy business. Goldner defended the girls' and preschool side of the business, extolled the strength of its GI Joe business, and said retail trends for the fourth quarter look "very good."

Lee brought in Jeffrey Lindsay, an analyst with Sanford Bernstein, to talk about

Yahoo!

(YHOO)

, which reports earnings Tuesday.

Lindsay said management has been able to set the bar so low that a beat is possible. He said the Microsoft deal has advertisers hesitant about committed to contracting.

On a positive note, he said Yahoo!'s upside could be in display advertising, particularly if the auto and finance business return.

Looking ahead to other tech earnings, he said

Amazon

(AMZN) - Get Amazon.com, Inc. Report

is already priced for perfection and that any surprises would be "negative." He said he liked

eBay

(EBAY) - Get eBay Inc. Report

more than Amazon because the beaten-down stock offered more potential upside.

On the prop desk, Lee lamented the book pricing wars among Amazon,

Wal-Mart

(WMT) - Get Walmart Inc. Report

and

Target

(TGT) - Get Target Corporation Report

over first-run releases. Finerman said the $8.99 price is a lost leader for them but is bad news for

Barnes and Noble

(BKS) - Get Barnes & Noble, Inc. Report

, which is already smarting from the sales of ebook readers.

Lee brought in Phil Mulacek, the CEO of

InterOil

(IOC)

, whose company's stock is up 397% year to date on the strength of the discovery of a new oil and gas well. Mulacek said China and Japan has already shown interest in the well.

The show ran out of time for the final trades segment.

-- Written by David Tong in San Francisco

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

.

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