'Real Money' Radio Wrap-up: Still Time to Get In

Filling in for Cramer, Aaron Task notes the stealth traits of the current rally.
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The stock market is breaking out, but where's the euphoria?

The market has been responding enthusiastically to strong economic data as well as superb corporate earnings. Indices are hitting or nearing new highs. The

S&P 500

, for example, hit a four-year high yesterday.

Nevertheless, none of the major papers celebrated the news. In fact, most are downplaying it. In other words, it's a contrarian's dream. And Aaron Task says that means it's still a good time to buy.

"When you start seeing a bull on the cover of




, that's when you sell," said Task, who was subbing for Jim Cramer on Friday's

"RealMoney" radio show.



co-executive editor, identified


(AAPL) - Get Report

as a big contributor to the market's momentum this week. Its earnings rose fivefold and, more importantly, the iPod's success is finally rubbing off on its computer division.

Another company where good news helped propelled stocks is

Advanced Micro Devices

(AMD) - Get Report

, said Task. And despite what you may hear, AMD is not a threat to


(INTC) - Get Report

, in Task's opinion. "What's good for AMD is good for Intel."

Intel, which reports next week, also has had a nice run. That's why Task said it wouldn't be a problem if you took some money off the table on Intel and let the rest ride.

As for Friday's big news, it came from

General Electric

(GE) - Get Report

, which reported another fantastic quarter before CEO Jeff Immelt made upbeat comments. Nevertheless, the stock fell, as "guidance was mixed, confusing or just plain disappointing depending on who you asked."

Task suggested it may even be a good time to step in to GE because the company is hitting on all cylinders.

The news isn't good everywhere. Task said he is worried about energy and utilities, which have had a nice run.

Task's guests in the studio today were Richard Suttmeier, a


contributor, and Lenny "Nails" Dykstra, the former baseball player who now trades actively.

Dykstra said he learned a lot about investing through reading


and other publications. By studying stocks, he went from "a minor league stock player to a major league stock player."

"The most important thing I learned about trading stocks is that if I buy a stock and it goes down, I don't have to wait for it to come back. I can sell it and buy another stock," says Dykstra.

Dykstra generally trades in technology shares, but he also bought a lot of

UnitedHealth Group

(UNH) - Get Report

when it dipped Thursday, per Cramer's recommendation. He also likes other health-care names like


(BMY) - Get Report



(PFE) - Get Report

; the latter is not a Cramer favorite.

Suttmeier, who writes a column for


and produces

TheStreet.com Technology Report

newsletter, had a few recommendations and surprises as well. Most notably, he said Internet darling


(GOOG) - Get Report

may have a problem sustaining its fundamentals and is 12% overvalued according to his models. He said the stock could have big problems if it disappoints when it reports earnings next week.

"Just how much advertising dollars are out there to divide among media properties?" he wondered.

He also called


(GME) - Get Report

more than 60% overvalued. "If there is some bad news on the company it could give up more ground than the amount it's inching upward."

Aaron L. Task is the co-executive editor of TheStreet.com. In keeping with TSC's editorial policy, he doesn't own or short individual stocks, although he owns stock in TheStreet.com. He also doesn't invest in hedge funds or other private investment partnerships. He invites you to send your feedback to