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.
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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