3 Stocks I Saw on TV
NEW YORK ( TheStreet) -- The markets continued to gain momentum Monday on a flurry of deal-making. The Dow Jones Industrial Average rose 69.48, or 0.57%, to 12,161.63. The S&P 500 added 8.18, or 0.62%, to 1,319.05. The Nasdaq gained 10.73, or 0.39%, to 2,783.99. Brian Kelly said on CNBC's "Fast Money" TV show that the market is on such a roll that it appears nothing can stop it. He said it's very difficult to short a market like this. Tim Seymour was impressed with "Merger Monday" and how it spread across a breath of industries, though he expressed concerns about inflation. For a breakout of some stocks from a recent "Fast Money" TV show, check out Dan Fitzpatrick's "3 Stocks I Saw on TV."
Pete Najarian noted how different leaders have come up to the plate each day to lead the market. He especially liked the leadership shown by stocks such as Exxon Mobil ( XOM) and General Electric ( GE). Najarian said people are still buying puts, adding that is a "good" thing that will take the market higher.. It was a big day for mergers with $16 billion worth announced today. Year to date, M&A activity has soared to the highest level in three years. Brian Kelly said he was impressed with Ensco's ( ESV) deal for Pride International ( PDE) in the energy space. Tim Seymour was impressed with the merger of two large steel companies in Japan to form the second largest steel company in the world. Pete Najarian said he liked the robust activity in the oil patch, adding investors have traded in a disciplined manner, taking advantage of stocks like Halliburton ( HAL) that are moving to the upside but also knowing when to take profits. Najarian was bullish about the solar stocks while Seymour saw strength in the uranium stocks like Uranium One ( UUU), which is benefitting from supply constraints. Adami said Danaher ( DHR), which announced a deal for Beckman Coulter ( BEC) has outperformed Berkshire Hathaway ( BRK.B) and has room to go higher. In another big deal today, AOL ( AOL) bought the Huffington Post. Kelly said the deal is an attempt to make AOL the " New York Times of the digital world."