NEW YORK (

TheStreet

) -- The markets ended the week on a positive note.

The

Dow Jones Industrial Average

rose 36.28, or 0.37%, to 9820.20, while the

S&P 500

added 2.81, or 0.26%, to 1068.20. The

Nasdaq

rose 6.11, or 0.29%, to 2132.86.

Guy Adami, the lone bear on the panel on

CNBC

's "Fast Money" TV show said he hasn't budged in his position about the market. He said he can't, not with rising unemployment and the drop in consumer spending. "The tape wants to go higher, but no, I'm not more optimistic."

Meanwhile, Tim Seymour said he had all the ammunition needed to make the argument for a rising market. He alluded to an earnings upgrade for

Procter & Gamble

(PG) - Get Report

and a note from JPMorgan Chase, saying the stock market is a leading indicator that will foreshadow earnings going into the third quarter. He said what all this comes down to is expectations for higher earnings.

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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Karen Finerman said valuations are so overstretched that she is taking some money off the table. She added some of her defensive trades aren't working in this market climate.

Joe Terranova said he was defecting to Adami's bearish camp, adding he believes there will be a shallow correction for the rest of the month.

Melissa Lee, the moderator of the show, noted that gold slipped to $1,008 an ounce. Terranova said it looks llike the market wants to pull back. He also said the copper tape is telling "you there'a correction," noting inventory levels of the commodity have been rising the past 16 days and that China isn't restocking as it has in the past. He said he was "cautious about all risky assets."

Seymour said the large copper producers can live with copper at $2.75 a pound, and he said that today's drop in gold was tied a move up in the dollar.

With oil stagnant, Adami and Finerman said natural gas looks attractive. Adami called

United States Natural Gas Fund

(UNG) - Get Report

"grim death" and preferred instead

Apache

(APA) - Get Report

.

Finerman said natural gas will play a "meaningful part" in integrated oil companies like

Chevron

(CVX) - Get Report

.

Lee shifted to the homebuilder stocks, which ended on a high note. Seymour said it was disconcerting to see heavy insider selling in

Toll Brothers

(TOL) - Get Report

.

He told viewers that next week's data on new home sales and housing starts will provide a good barometer for the health of the housing industry.

Finerman said Congress could help the industry by extending the $8,000 credit to first-home buyers and broadening it to include more than just first-home buyers.

Greg Troccoli, the noted chartist from Opalesque, said there could very well be a pullback in the market the next few weeks. He said the homebuilders stocks are ahead of themselves and certain names in tech are near the last 5% of their moves.

He said

Starwood Hotels

(HOT)

, which has moved up from a low of $9 to $34, is difficult to justify given the problems in the hotel industry.

He also said he is not going to hold on to

Research In Motion

(RIMM)

if it doesn't close above $84 in the next two or two days. If it fails, he said he would rather hold

Amazon

(AMZN) - Get Report

.

Lee brought in Mark Mahaney, Citigroup investment research director, to talk about

Google

(GOOG) - Get Report

, which was up 4% for the week. The stock closed at $491.46.

Mahaney said he would be very surprised if it doesn't rise above $500 between now and the end of the year. He said he expects Google to do well over $26 in earnings next year. Put a 20- to 25-multiple on that and you get $520 on the low end and above $600 on the high end, he said.

The driver for the business for the remainder of the year will be YouTube and mobile next year, he said. He also said Google will be the beneficiary of two major advertisers in the fourth quarter:

Toyota

(TM) - Get Report

and

Procter & Gamble

(PG) - Get Report

.

Mahaney also liked the chances of

Yahoo!

(YHOO)

to move higher because of its attractive cash flow and interesting China Internet play.

In an interview with Finerman, U.S. Labor Secretary Hilda Solis said the jobs picture should improve with the release of stimulus funds for construction, rail, transportation and manufacturing. She said the two-year recovery plan is only into its sixth month.

Lee Amaitis, president and CEO for Cantor Gaming, came on the show to talk about the recent launch of some mobile gaming products that will allow casino goers to gamble away from the tables and make bets on sporting events. He said the reception has been very good for the devices.

In the final trades, Seymour said it was time to sell

Alcoa

(AA) - Get Report

. Adami said to short

Abercrombie & Fitch

(ANF) - Get Report

while Finerman said to sell

Transocean

(RIG) - Get Report

. Terranova said to short

Caterpillar

(CAT) - Get Report

.

-- 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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