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) -- The markets pulled back Tuesday after the

Dow Jones Industrial Average

briefly touched 13,000 before retreating.

The Dow rose 15.82, or 0.12%, to 12,965.69. The S&P gained 1.03, or 0.08%, to 1362.26. The Nasdaq retreated 3.21, or 0.11%, to 2948.57.

Melissa Lee, the moderator of


's "Fast Money" TV show, turned the trading panel's attention to


(DELL) - Get Dell Technologies Inc Class C Report

, which was down 4.67% after an earnings miss.

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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Stephen Weiss said Dell was hurt by western Europe and a slowdown in federal government spending. He said the stock trades like a commodity business and that he would rather be in newer tech names.

But Guy Adami said he believes Dell's story remains intact and its valuation compelling. He said the stock looks interesting at $16.75 and $17.

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Joe Terranova also said Dell looks interesting at $16.25, its 50-day moving average. He said the company should use some of its plentiful cash to make an acquisition, preferably in software.


reporter Jon Fortt, who was listening to the Dell conference call, said the company took a hit from the floods in Thailand, which prevented it from getting the mix of drives it needed, as well as price competition in the public sector and lower federal government spending. On the other hand, Dell reported gains in services and IP storage.

Does the Dow 13,000 carry much significance? Weiss said the milestone is an important psychological level for retail investors that could signal the flow of money into stocks and stock funds. He said it's certainly more interesting than investing in a 2% 10-year bond.

Guy Adami detected a double-top pattern emerging in the S&P, which is pushing toward 1370, and certain stocks that sets up for a short position in both.

Joe Terranova credited the rally to the move up by laggards like


(AA) - Get Alcoa Corporation Report


Bank of America

(BAC) - Get Bank of America Corp Report

. He also considered the S&P more important than the Dow.

Jeff Weiss, chief technical analyst for Tejas Securities Group, said he liked the look of this year's rally and sees it heading toward 1425. He noted that 1,000 issues or more have advanced in 34 out of the past 35 sessions.

Jim O'Shaughnessy, founder of O'Shaughnessy Asset management, also had an upbeat view on stocks. He said the last time Dow was at 13,000, investors were paying 17 times earnings for stocks compared to 14 times earnings now.

He said investors now can pay less for stocks with good price momentum in a low volatile market environment. They include names such as

Home Depot

(HD) - Get Home Depot, Inc. Report


Tata Motors

(TTM) - Get Tata Motors Ltd. Report



(AAPL) - Get Apple Inc. Report



(GRMN) - Get Garmin Ltd. Report



(NFLX) - Get Netflix, Inc. Report

fell nearly 4% after


(CMCSA) - Get Comcast Corporation Class A Report

announced the launched of its VOD Streampix.

Michael Pachter, of Wedbush Securities, said Netflix could lose 1 million subscribers from Comcast's entry. He said Netflix, which had been on a run recently, is at a crossroads. He said the increased competition from Comcast and others could cause a decline in subscriptions for Netflix and a rise in content costs.

In any event, he said "everybody is fighting back" against Netflix. He said he has a $45 price target for Netflix that he pulled out of the air. The stock closed today at $117.15, which he said is "much too high."

Lee brought in Glenn Stevens, CEO of Gain Capital, to talk about the boom in retail investors, who now account for 10% of the $4 trillion currency market. Stevens credited the boom to the availability of information, low execution costs and lots of excitement around the market.

He said the currency market is a 24-hour global market, with a $275 billion average monthly trading volume.

Shifting to the retail sector, Mike Khouw said he would be a seller of Macys as he sees a rotation going into the retailers. Joe Terranova was impressed with



(JWN) - Get Nordstrom, Inc. Report

recent dividend hike, adding it's getting support from the affluent consumer.

Dana Telsey, CEO of the Telsey Advisory Group, was also upbeat about the retail sector, saying stocks are not topping out yet. She said the second half of the year promises to be better than the first half, adding the impact of high gas prices will be felt most during the summer.

Moving on to the high price of oil, Terranova said the price of oil will continue to go higher because China imports more than one-fifth of Iran's oil and because of the deficient energy policy of the U.S. He said high gas prices could be the ultimate headwind for further equity appreciation.

In the final trades, Weiss liked



. Adami said he would buy


(TJX) - Get TJX Companies Inc Report

if it reports an earnings miss. J.J. Kinahan said he was playing


(JWN) - Get Nordstrom, Inc. Report

to the upside. And Terranova favored

Teck Resources




Written by David Tong in San Francisco.

>To contact the writer of this article, click here:

David Tong


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To watch replays of Cramer's video segments, visit the Mad Money page on CNBC


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