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) -- The markets rallied Wednesday on a day when the head of


(TM) - Get Free Report

was grilled in Congress over defects in its cars.


Dow Jones Industrial Average

was up 91.75, or 0.89%, to 10,374.16. The

S&P 500

rose 10.64, or 0.97%, to 1,105.24. The


jumped 22.46, or 1.01%, to 2,235.90.

Karen Finerman said on


's "Fast Money" TV show that the grueling Toyota hearing on Capitol Hill is going to result in more bad news for the automaker. However, she said it should ease up from here. Toyota shares were up 4% during the testimony from Akio Toyoda, CEO of the automaker.

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 said that easing up could take some steam out of the


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trade. Joe Terranova disagreed, saying that Ford's fundamentals are strong as it heads to its 52-week high.

Pete Najarian said Toyota could work as a trade but he expressed concerns about the company and its other models, weakening demand, pricing of its used cars and its long-term outlook.

Brian Kelly said he got into Toyota shares when there was a lot of negativity, adding he plans to stick with it until it reaches $80 to $82.

Kelly said a derivative trade off the Toyota news might be to be long the U.S. dollar and short the yen, since a weakened Toyota would have a negative impact Japan's economy.

Shifting to the financials, Jon Najarian said the Securities and Exchange Commission approved by a 3-2 margin a ban on short selling for a stock that falls below 10%. He said an uptick rule would be triggered once that level was reached.

Moving to the troubled commodities sector, Terranova said the reflation trade is over except for oil. He said he was long oil, short gold.

Najarian said there were selected areas in the commodities where there were still opportunities such as in coal, with




Joy Global



Adami echoed Terranova's sentiment on gold, saying it is at a "critical" level.

In a segment called "secrets of smart money," Lee noted a recent Goldman Sachs report on the top holdings of hedge funds. They included names such as


(TGT) - Get Free Report


Wells Fargo

(WFC) - Get Free Report



(MRK) - Get Free Report


(AMZN) - Get Free Report


Finerman said the Goldman report emphasized the importance of stock picking these days. She was dubious about the selection of, while Adami said Wells Fargo hasn't been performing that well.

In the options action, Najarian noted unusually strong options activity in


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, which has surged since its Jan. 27 earnings. He said the activity could either be interpreted as bearish or a defensive move to seek protection.

Finerman said it stands to reason that Netflex will be challenged by technologies that will make its business model antiquated. For that reason and the short interest in the stock, she advised staying away from it.

Carter Worth, a chartologist with Oppenheimer Asset Management, told the panel that the 30-year bond is heading to 5.25% "sooner than later."

Worth also said he sees the

Consumer Staples Select Sector SPDR

(XLP) - Get Free Report

and the

SPDR KBW Regional Banking

(KRE) - Get Free Report

moving higher.

Lee brought in Jim Taiclet, CEO of

American Tower

(AMT) - Get Free Report

one of the stocks most prized by hedge funds.

Taiclet told Lee that the company plans to use its cash for capital expeditures to build new infrastructure in existing markets, engage aggressively in acquisitions around the world and return cash to shareholders.

Kaminsky likes the company a lot for its organic growth and astute capital allocation. "It's in a sweet spot ," he said.

In the final trades, Terranova was long oil, short gold. Adami liked

Medco Health Solutions


. Finerman liked

CVS Caremark

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while Najarian favored


(AKAM) - Get Free 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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