NEW YORK (
) -- The markets roared back Tuesday on hopes of a possible bailout of Greece.
Dow Jones Industrial Average
jumped 150.25, or 1.52%, to 10,058.25 while the
added 13.78, or 1.3%, to 1,070.52. The
rose 24.82, or 1.17%, to 2,150.87.
Tim Seymour said on
's "Fast Money" TV show that investors should give the Greece trade another 24 hours and ride the most beaten-up commodities in the emerging markets.
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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Seymour said there are a lot of rumors circulating as to who would step up to bail out Greece, from Germany to the International Monetary Fund.
Joe Terranova said the markets are so volatile now that it's difficult to read which way they will head. Under such circumstances, he said the best strategy would be to stick with quality names.
Pete Najarian said investors were buying puts by a 2-to-1 margin ostensibly for protection or "maybe people don't believe the rally."
Guy Adami said it looked as if the markets were going to go negative early until the headlines about Greece came out. He said the performance of the bank stocks weren't that impressive.
Najarian said he also wasn't impressed with the health of the financials, calling
all "broken charts." He said he hasn't found any catalysts to get into these stocks.
Terranova agreed with his assessment on the financials but said JPMorgan was a name he was looking to go long.
Melissa Lee noted that
was moving higher in afterhours trading on a strong earnings report.
Seymour and Najarian said Disney was benefiting from its cable operations, especially ESPN. Jon Najarian, who was listening in on the Disney conference call, said one of the drivers for Disney is the revenue it gets from toys from the Marvel connection and movies such as
Iron Man 2
Alice in Wonderland.
Jon Najarian said the analysts liked what they heard when Disney officials said they intend to be "willing and active contributors" to
Najarian also said the company said it will be taking steps to ween itself off the discounting at its theme parks.
Lee brought in David Threlkeid, president of Resolved Inc., who advanced the argument that copper is being artificially propped up by China, which is buying the commodity and storing it in warehouses. As a result, he sees the surplus hitting the market sometime this year in a move that could drive copper down to $1 a pound.
Seymour found it difficult to believe the argument, saying "it's so far on the edge on where copper will be."
Lee brought in Henry Cisneros, former HUD secretary and now executive chairman of Cityview, for his perspective on the the need for continued government help in the housing industry.
He said the government needs to continue what it is doing to prop up the industry or risk a double-dip recession. He noted signs of a recovery in housing, including a stabilization in home prices in many parts of the country.
Lee asked the panel what they thought of the comments from Richard Russell, editor of the
Dow Theory Letters
, on a huge market retracement to the lows of March in 2009 -- in effect, a 3,000-point drop.
Adami said Russell is respected in his field, adding he definitely believes the market is heading down, though not to the extent that Russell is forecasting.
The other panelists would have none of it. Terranova said the markets are clearly reovering, while Seymour said there are powerful reasons for the market to move up this year, including 6% growth in 25% of the world's economies and the healthy balance sheets of corporate America.
rose 2.5% after the automaker announced plans to recall its Prius cars to fix brake problems. Seymour said the automaker is still the best run automaker in the world and is doing especially well in China where it is grabbing market share.
Adami, though, was adamant in his position that he wouldn't buy a Toyota in his lifetime. Terranova said a good name to get into off this trade is
In a brief segment on casino stocks, Mike Khouw, senior options trader at Cantor Fitzgerald, said
Las Vegas Sands
is trading at attractive multiples because of the impressive performance of its Macau operations, which account for two-thirds of its revenue.
In the final trades, Seymour liked
. Adami liked
while Terranova liked
. Najarian said he liked
-- Written by David Tong in San Francisco
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