'Fast Money' Recap: Looking Ahead

NEW YORK (TheStreet) --The markets slipped Friday on troubled earnings from Bank of America(BAC Quote) and General Electric(GE Quote).

The Dow Jones Industrial Average fell 67.03, or 0.67%, to 9,995.91 while the S&P 500 dropped 8.81, or 0.81%, to 1,087.68. The Nasdaq lost 16.49, or 0.76%, to 2,156.80.

Steve Grasso said on CNBC's "Fast Money" TV show he wasn't shocked by the dip today. He said he expected investors to take profits and for the markets to move sideways after the big run earlier this week.

For a breakout of some stocks from a recent "Fast Money" TV show, check out Dan Fitzpatrick's "3 Stocks I Saw on TV."

3 Stocks I Saw on TV

Tim Seymour said he was encouraged by the "great data" that showed industrial production and capacity utilization moving in the right direction. He, too, said he wasn't surprised by today's market action. "I wouldn't make too much of this," he said.

Joe Terranova called it a "great week" and expects further upside next week. He said the market outlook looks encouraging because of the strong earnings of Intel (INTC Quote) and JPMorgan Chase (JPM Quote) along with the breakout in oil.

Melissa Lee, the moderator of the show, expressed worries about the financials after the big loss reported by BofA and next week's wave of earnings by regional banks.

Pete Najarian was concerned about the complacency of the market after the volatility index slipped under 21. "People have gotten a little too euphoric," he said. "There's no sign of any fears."