Word On The Street
The market rose on Monday despite news out of Honduras that the military in the region had ousted the sitting president. The Dow Jones Industrial Average jumped 90.99 points, or 1.08%, to 8,529.38, while the S&P 500 added 8.33 points, or 0.91%, to 927.23. The Nasdaq traded up 5.84 points, or 0.32%, to 1,844.06. Karen Finerman told viewers to not read to much into today’s action. She thinks the market move was caused by some window dressing. Finerman said the market will be stuck in a range until we get earnings in about 2 to 3 weeks. Tim Seymour said today’s run was more than just wishful thinking and window dressing. He mentioned that industrial production in Japan rose by 5.9% and consumer confidence in Europe also rose. Guy Adami pointed out that the transports didn’t participate while the rails were lower. “I just can’t embrace this rally right here given that kind of action,” he said.  Joe Terranova said we keep on hearing that a correction is coming but it never comes. He said the market looks like a replay of 2003 where it headed higher and higher. Tim Seymour said he wouldn’t want to be out of the market during the first few days of July.
POPS&DROPS

Final Trade
Seymour said go long Alcoa (AA). Adami picked Nike (NKE) cause he thinks the stock has bottomed out. Finerman likes Hewlett Packard (HPQ) for their good numbers. Terranova said American Express (AXP), IBM (IBM) and Microsoft (MSFT) are all worth a look as the top 3 performers in the Dow. Get the scoop on tomorrow’s hottest trade ideas – TODAY! BeaconEquity.com PREMIER PICKS have an amazing track record. Join this select group and ride the profit wave!