'Fast Money' Recap: No Man's Land

NEW YORK (

TheStreet

) -- The markets crawled to the finish Friday on mixed economic news.

The

Dow Jones Industrial Average

rose 12.85, or 0.12%, to 10,624.69, while the

S&P 500

declined 0.25, or 0.02%, to 1,149.99. The

Nasdaq

was down 0.80, 0.12%, to 2,367.66.

Gary Kaminsky said on

CNBC

's "Fast Money" TV show that Monday will be important because portfolio and money managers will look at names in the S&P such as

Citigroup

(C) - Get Report

and

AIG

(AIG) - Get Report

that drove this week's rally. He said the performance of those names will set up the market for the next two weeks.

For a breakout of some stocks from a recent "Fast Money" TV show,check out Dan Fitzpatrick's "3 Stocks I Saw on TV."

Kaminsky expressed caution about AIG, which he called a "liquidating trust." "If you don't play this right, you are going to lose a ton of money," he said.

Tim Seymour said there have been record fund flows into the emerging markets in the first quarter.

Joe Terranova said 2010 requires a different trading strategy because there's been so little market momentum. He said investors have to adjust by taking a contrarian stance in their trades.

> > Bull or Bear? Vote in Our Poll

Karen Finerman

said the market is moving into a period between earnings where trading will be difficult because not much is happening.

Todd Gordon, of Forex.com, said he was noncommittal in the currency and equities markets given the light volume. He noted the volume of the New York Stock Exchange was the lightest since August 2003. Kaminsky, though, said some believe the lack of a selloff in such a light-volume market is a "good sign."

Melissa Lee, the moderator of the show, shifted the discuss to Lehman Brothers and a report by the U.S. bankruptcy court examiner that the company's top executives had manipulated its balance sheets to hide billions of dollars of toxic assets so as to appear solvent.

Jacob Zamansky, of Zamansky & Associates, said the case reminded him of the off-balance sheet accounting tricks at Enron. He said ex-CEO Richard Fuld and the CFO should be held accountable. "They knew what was going on,"' he said.

Lee noted that commodities moved high on a strong earnings report from

Potash

(POT)

. Seymour applauded Potash's report, adding the ag names are going higher.

Health care and financial regulatory reforms will be the spotlight next week as Congress wrestles with the legislation. Daniel Clifton, head of policy research at Strategas, said the fight to pass a health care bill will create a lot of uncertainty among investors who are worried about the outcome of the legislation.

Lee shifted the discussion to the cyber security trade and brought in Dave DeWalt, CEO of

McAfee

(MFE)

. He said there's been a series of scary "Pearl Harbor-type cyber" attacks in the past year. He also said there's been in an increase in cyber crime, espionage online and fears of a perfect-storm scenario.

He told the panel his company wasn't worried about the free anti-virus market, which he called small. He said his company expects to pick up business from the increase in PC sales and "every kind of device."

In the final trades, Kaminsky said to key an eye on some large secondary offerings from regional banks. Finerman liked

General Growth

(GGP)

while Terranova liked

Kroger

(KR) - 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.

Follow TheStreet.com on

Twitter

and become a fan on

Facebook.