Fast Money

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Fast Money

No.1 - Dow Closes Above 13,000

The Dow Jones Industrial Average -- the barometer for the health and wealth of our republic -- surged through the 13,000 mark today...jumping 136 points. Despite what you've read about a housing bubble or rising inflation, this bull market is actually gaining momentum.

Dylan Ratigan explains that the move from 11,000 to 12,000 took about 1900 trading days (more than 5 years) but the move from 12,000 to 13,000 took just 150 days!

He says the reasons for the rise include better than expected earnings, mergers, and a weaker dollar.

Tim Strazzini believes the financials and the asset managers will benefit from the Dow crossing 13,000, because it’s a psychological threshold. It will bring new investors into the market who are eager to participate. 

Eric Bolling says 13,000 stems, in part, from the dollar hitting multi-year lows which provides upside to multi-nationals. He explains the top 50 stocks in the S&P have 72% of their sales outside the United States.

Guy Adami calls the move impressive.

Then, Dylan asks the traders, “Are you buying into this rally and what are you buying?”

Guy likes Honeywell (HON) which he calls a huge “tell.” The company is involved in the automotive and housing sectors, which are two sectors in trouble, yet the company makes its numbers.

Jeff Macke adds that it was the financials that led the market out of its slump. He says that was significant to him, and he recommends getting long Goldman Sachs (GS).

Eric Bolling adds that other sectors are also doing well. And the earnings surprises are robust.

Questions? Comments?

Trader disclosure:
On APR 25, 2007, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders Strazzini Owns (POT), (GSK), (IBM) Bolling Owns (DIS), Gold, Silver, Corn Bolling Is Short Soybeans, Bolling Is Long (AMZN) Options