3 Stocks I Saw on TV
NEW YORK ( TheStreet) -- The markets staged an impressive rally Thursday but closed on a worrisome note. The Dow Jones Industrial Average jumped 83.74, or 0.92%, to 9154.46, while the S&P 500 rose 11.60, or 1.19%, to 986.75. The Nasdaq rose 16.54, or 0.84%, to 1984.74. Erin Burnett , the moderator of CNBC's "Fast Money" TV show, said the markets hit new highs but showed some weaknesses at the close. Joe Terranova was worried about a significant reversal by many stocks that opened on 10-month highs but did not close on their highs. He said that action hints at a pullback, especially with unemployment numbers coming next week. Tim Seymour disagreed, saying the flow of encouraging earnings and data flows suggest the rally will continue. "Fundamentally, I don't see what's going to stop this," he said. For a breakout of stocks from a recent "Fast Money" show, check out Dan Fitzpatrick's "3 Stocks I Saw on TV."
But Guy Adami said the close wasn't encouraging. Karen Finerman said she was a seller today, adding there was a lot of things that were "frothy." Seymour rejoined the debate. "You can't be too cute with this tape. The pullbacks have been shallow. If you tried to over-trade this thing, you'll get screwed," he said. Adami said the 5% jump in crude today after being down the day before caught him completely off guard. "It must be an asset allocation," he said, adding he still thinks crude is heading down to $58 a barrel.