'Fast Money' Recap: Reversing the Weak Dollar Trade

NEW YORK (TheStreet) -- The markets sank Wednesday amid fresh worries about the housing industry.

The Dow Jones Industrial Average fell 11.11, or 0.11%, to 10,426.31, while the S&P 500 slipped 0.51, or 0.05%, to 1,109.80. The Nasdaq dropped 10.64, or 0.48%, to 2,193.14.

The markets' upward momentum was cut short by a government report that showed October housing starts coming in weaker than expected.

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 on CNBC's "Fast Money" TV show that the dollar's weakness will be a continuing theme for the next couple of years. He said today's market decline was all about disappointing housing data and questions about the strength of the consumer.

Pete Najarian said the markets seem to stuck in a range, with the S&P struggling around 1,100, the Vix hovering around 21.5 and oil struggling at $80 a barrel.

Guy Adami said there are still trades like Hewlett-Packard(HPQ Quote) and Walter Industries(WLT Quote) that continue to work. He said he frankly doesn't know what can turn around the weak-dollar trade.

Lee shifted the panel's attention to commodities and gold, which struck another high. Adami reminded viewers that copper has been performing a lot better than gold.

Lee noted that famed hedge fund manager John Paulson is going to start a gold fund in January and put $250 million in it.

Najarian said there was "incredible" activity today in both Potash(POT Quote) and Bunge (BG Quote). He said the trading was part of an explosive move off of Warren Buffett's recent acquisition of Burlington Northern Sante Fe(BNI Quote).