NEW YORK (
) -- The markets rallied Thursday on encouraging economic data and Italy's bond auction.
Dow Jones Industrial Average
jumped 135.63, or 1.12%, to 12,284.04. The
added 13.38, or 1.07%, to 1263.02. The
rose 23.76, or 0.92%, to 2613.74.
Jon Najarian said on
's "Fast Money" TV show that today's rally took back all of the previous day's losses, while Ron Insana said the price action demonstrated the market's resilience despite negative headlines as well as the strength of the U.S economy.
Stephen Weiss noted the continued decline in gold and said he was short the euro. He said he was using the week to take some gains and suggested that next week might be a different story.
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 on TV
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Dan Dicker, a senior contributor for
who was on the panel, said the price action on oil is very strong as it is close to $100 a barrel.
Melissa Lee, the moderator of the show, shifted the discussion to the rally in homebuilder stocks on better-than-expected pending home sales results. Najarian said he liked the activity in the space and noted how
continue to do well.
Insana said there are a lot of things going right in the housing sector as certain areas of the country like Miami are in the midst of a turnaround.
Josh Brown, though, said it's tough to pick stocks in the space. However, he mentioned two he thought were breaking out:
and Home Depot, which he said hasn't stopped since it broke out on Dec. 1.
Lee wondered whether low natural gas prices might benefit the housing industry. Najarian said it could since natural gas is needed to produce aluminum. Dicker, though, said lumber and copper prices haven't come down.
Shifting to technology, Lee said
shares were down after Goldman Sachs put out a note, saying it would miss fourth-quarter estimates.
Frederick Moran, an analyst with Benchmark Co., disputed the interpretation of data behind the analysis. He said Amazon has been doing well, gaining market share from traditional retailers and in the Internet sector. He said Amazon has been adept in using the Kindle Fire as a loss leader to gain market share against Apple in the highly competitive tablet space.
Mike Khouw expressed concerns about Amazon's margins, while Najarian agreed with Morgan, saying Goldman was wrong in its analysis.
Lee brought in commodity guru Dennis Gartman to comment on investing in agricultural commodities. He said it is a winning trade, along with the equities markets. He said he is seeing strong demand in the grain markets.
Gartman said the austerity programs in Europe is not bullish for gold. However, he believes gold and silver are close to a bottom and would get back into gold shortly.
tech reporter Jon Fortt offered some predictions for Apple in 2012. He predicted Apple would push the iPad2's price to $399. He said Apple's move to flash memory spared it the grief that Thailand's floods are causing the PC industry, which is dependent on hard drives.
He said he expects Apple to come out with a new design for the iPhone 5 and enlarge the size of the iTouch. He also said Apple is coming out with an iPad HD with graphics and Siri. Najarian said the new ability of the new iPad to interact with the iTV by voice will be the killer app for 2012.
Commenting on the fear trade, James Strugger, of MKM Partners, said the VIX is in a trough phase as it grinds lower to 15 to 18 before it encounters some additional shocks in 2012.
The panel commented on their worst and best calls of the year. Weiss said his worst stock was
, which is down 52% year to date. Dicker said he bought
at $58 and $55 before selling it at $40.
Insana said he made the mistake of shorting gold at $1,300, while Najarian said he paid for his lack of discipline in trading
On the flip side, Insana said his best call was at the beginning of the year when he advised investors to move away from the emerging markets and to the U.S. Dicker said he did well in the secondaries in the transportation and energy MLPs. Najarian said his best call was El Paso, which was bought out by
. Weiss said his best pick was
before it was sold.
Lee asked Najarian for his top five predictions. Three of the picks were in the energy space. He said the demand for oil will benefit companies like
He also liked the coal play, especially
James River Coal
And he said the shipment of Bakken Shale will benefit the Canadian rail trade, especially
Canadian National Railroad
Najarian also liked the housing stocks but he said they have already jumped 40% in the past three months.
But his bombshell prediction was
Research In Motion
( RIMM), which he predicted will be bought out sometime in the first half of 2012.
In the final moves, Brown liked
. Dicker liked Apple while Weiss liked
. Insana said he was going to short the 10-year Treasuries on Friday and cover them on Tuesday. Najarian liked
Written by David Tong in San Francisco.
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