NEW YORK (

TheStreet

) -- The

Dow Jones Industrial Average

surged pass a long-awaited milestone Wednesday when it soared above 10,000.

The Dow jumped 144.80, or 1.47% to 1,015.86 while the

S&P 500

added 18.84, or 1.76%, to 1,092.02. The

Nasdaq

rose 32.34, or 1.51%, to 2,172.23.

It was the first time the Dow has been in five-digit territory for a year. The markets were lifted by impressive earnings from

JPMorgan Chase

(JPM) - Get Report

and

Intel

(INTC) - Get Report

.

Tim Seymour said on

CNBC

's "Fast Money" TV show said the rally was fueled by solid retail sales numbers earnings. Guy Adami acknowledged that the "stampede is on" and to "ride the wave."

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

varconfig = new Array(); config<BRACKET>"videoId"</BRACKET> = 44762794001;config<BRACKET>"playerTag"</BRACKET> = "TSCM Embedded Video Player";config<BRACKET>"autoStart"</BRACKET> = false;config<BRACKET>"preloadBackColor"</BRACKET> = "#FFFFFF";config<BRACKET>"useOverlayMenu"</BRACKET> = "false";config<BRACKET>"width"</BRACKET> = 265;config<BRACKET>"height"</BRACKET> = 255;config<BRACKET>"playerId"</BRACKET> = 1243645856;createExperience(config, 8);

Pete Najarian noted it was an usually busy options day, with 18 million contracts traded. He said the volume in the financials was double the normal flow. Seymour agreed, saying the large volumes indicate that there is more room to go for the rally.

Steve Grasso said investors who have been waiting on the sidelines should be "dipping their toes to get back into the market." He said there is still a lot of unknowns about the market but also plenty of upside.

Najarian said a lot of money managers were caught short, waiting for a bad number for Intel. When that didn't happen, they had to chase the stock, he said.

Grasso said traders who misjudged the market saw "track marks" on their heads. Melissa Lee, the moderator of the show, referred to a chart showing the Dow trading sideways in the past after reaching 10,000, but Grasso disagreed, saying that's not going to happen this time. He said there is another leg to this rally.

Lee said JPMorgan's strong's earnings report bodes well for

Goldman Sach

's

(GS) - Get Report

earnings Thursday. Adami agreed, but he said it might be time to take some profits in Goldman, which, he said, would have to report earnings north of $5 per share to lift the stock.

Lee noted that another financial --

Jefferies Group

(JEF) - Get Report

-- was doing everything right and hit another 52-week high. Seymour said he liked

Barclays

(BCS) - Get Report

, calling it a "fantastic investment bank" that has cleaned up its balance sheet.

Lee said the tech sector got a lift from Intel's strong guidance, the one exception being

IBM

(IBM) - Get Report

which hit a little bit of resistance before ending the day up.

Adami said he remains impressed with

Hewlett-Packard

(HPQ) - Get Report

, saying it and

Cisco

(CSCO) - Get Report

are the "best of the bunch."

Lee brought in Jon Najarian to talk about today's options activity. He said the volatility has dropped to such very low levels for stocks like

Bank of America

(BAC) - Get Report

that it allows investors to comfortably make bets on the upside or downside.

Najarian said there is a lot of disbelief in the options pits about the rally. He said traders were praying for a bad number for Intel so they could buy it and get in. Instead, they wound up chasing the stock, he said.

Lee alluded to a Morningstar chart showing that retail investors are still holding back on investing in equities. The chart showed retail investors preferred bond funds to stock funds by 18-to-1. She added institutional investors are sitting on $3 trillion.

Lee brought in Gary Kaminsky, a former managing director with Neuberger Berman, to talk about

Wal-Mart

(WMT) - Get Report

, which remains in a funk compared to the rest of the market.

Kaminsky expects Wal-Mart will do well in what he predicts will be a surprisingly strong Christmas season, driven by pent-up demand like that seen in the Cash for Clunkers program. He said some of the spending power might come from the new found stock wealth from this year's market rebound.

He noted other companies will be benefit as well, including

Apple

(AAPL) - Get Report

,

Bed, Bath & Beyond

(BBBY) - Get Report

and

Best Buy

(BBY) - Get Report

.

Lee invited Mark Mahaney, Citigroup U.S. Internet analyst, to comment on

Google

(GOOG) - Get Report

, which reports Thursday.

Mahaney said he wouldn't be betting on a big upside after the earnings report. He noted three catalysts that can drive Google higher: its mobile smartphone, profits from YouTube and margin expansion. Unfortunately, he doesn't see that happening in tomorrow's earnings.

He said Google is having problems expanding in Russia and China but is doing well in Brazil and India. He said Google might see some success from a backdoor strategy in China involving mobile smartphones.

Adami expressed some caution about trading ahead of Google's earnings. He said he's seen the stock drop $50 in the past after reporting earnings.

Louis Navellier, chief investment officer for Navellier & Associates, said investors should enjoy the ride in stocks in the early phase of the reporting of earnings. He said that won't be the case later on when there's some consolidation.

His best bets? They are IBM and

Valmont

(VMI) - Get Report

from which he expects a "big" earnings surprise.

In the final trades, Seymour liked

Vale

(VALE) - Get Report

; Adami liked

Abbott Labs

(ABT) - Get Report

; Grasso like

Timberland

( TBL); and Najarian liked

BP

(BP) - 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.