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NEW YORK (

TheStreet

) -- The markets capped the week on a solid note as the

Dow Jones Industrial Average

hit a new high.

The Dow jumped 78.07, or 0.80%, to 9,864.94, while the

S&P 500

rose 6.01, or 0.56% to 1,071.49. The

Nasdaq

added 15.35, or 0.72%, to 2,139.28.

Joe Terranova said on

CNBC

's "Fast Money" TV show that "everything is setting up well" for the market. He said the challenge now will be for the S&P to cross 1,075 and "break out" to 1,120.

Tim Seymour said he was encouraged by a lot of good data from around the world and the fact that there isn't much happening next week until

JPMorgan Chase

(JPM) - Get JPMorgan Chase & Co. Report

TheStreet Recommends

reports on Wednesday.

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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Guy Adami cited

Cisco

(CSCO) - Get Cisco Systems, Inc. Report

as a name that "continues to work." He believes the company is about the pull the trigger on a big acquisition that will move the stock higher.

Melissa Lee, the moderator of the show, shifted the discussion to gold, which has been up 11 of the last 13 weeks. Joe Terranova said he didn't like the reaction of gold to $1,050 and reduced his position, preferring instead to trade in crude, which he believes will break out in the next two to three weeks.

Seymour said he was concerned about the valuation of miner stocks, especially in South Africa. Guy Adami said he was comfortable with the valuation of

Freeport-McMoRan

(FCX) - Get Freeport-McMoRan, Inc. Report

and feels it has "broken out." He also said

Apache

(APA) - Get APA Corp. Report

still makes sense as a momentum play after hitting a 52-week high.

Karen Finerman noted a big move up on the long-end of the Treasury curve, an indication, she said, that

Fed

Chairman Ben Bernanke has his finger on the trigger to raise interest rates.

Seymour, though, said he could see no reason why Bernanke would switch course now. Terranova agreed, saying Bernanke's hands are tied so long as unemployment is high, a situation, he said, that leaves commodities and resources as the best trades.

According to Seymour , there's a long-term toward commodities as the "currency of choice" as the dollar heads lower.

Lee shifted the discussion to the chatter over

Hewlett-Packard

's

(HPQ) - Get HP Inc. Report

new Beats notebook computer.

In an interview with

CNBC

reporter Jim Goldman, Todd Bradley, H-P's executive vice-president of the personal systems group, said the new notebook will have the best audio output in the marketplace.

Bradley said the music- and entertainment-oriented notebook is part of a broad array of products that H-P hopes to make computing a much more "personal" experience."

Goldman noted the notebook may cost as much as $2,200 to $2,300 a unit, but Bradley countered that the notebook should be viewed in the context of the company's broad product offering to consumers.

Bradley was "cautiously optimistic" about holiday sales, saying the launch of Windows 7 will help drive sales.

Adami said he remains impressed by H-P, calling it a slow and steady performer and one "you want to own."

Adam Benjamin, an analyst with Jefferies & Co., said he didn't believe Windows 7 will drive sales. Rather, he believes pricing will be more of a factor for price-conscious consumers.

Benjamin said his top pick in this space is

Broadcom

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, which he believes will profit big from its cellular business in 2010 and 2011.

Adami said he continues to like

Cree

(CREE) - Get Cree, Inc. Report

and

NetApp

(NTAP) - Get NetApp, Inc. Report

.

Lee brought in Greg Troccoli, director of technical research for Opalesque, for his market forecast. Troccoli was bullish about the Dow. He said that if the Dow can get a Friday closing above 9,918, it has a chance to "take out" 10,000 and surge toward 10,300. He said that can happen in six weeks if there isn't a bear trap.

Moving to the financials, Lee brought in Mike Khouw, an options trader for Canter Fitzgerald, who said he remains bullish on

JPMorgan Chase

(JPM) - Get JPMorgan Chase & Co. Report

ahead of its earnings next week. He said

Bank of America

(BAC) - Get Bank of America Corp Report

looks a little more problematic with all the talk about management changes related to the departure of CEO Ken Lewis.

In the final trades, Seymour said to sell

Rio Tinto

( RTP). Adami liked

Raymond James

(RJF) - Get Raymond James Financial, Inc. Report

, and Finerman liked

Darden

(DRI) - Get Darden Restaurants, Inc. Report

. Terranova said

Linear Technology

(LLTC)

is a buy.

-- 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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