'Fast Money' Recap: Nowhere to Go

Dylan Ratigan started off CNBC's "Fast Money" show Monday with a discussion of how stocks are near new lows in the credit crisis.

Guy Adami said he thought the Dow Jones Industrial Average was going to trade above 9,000 today. "If the Dow closes below 7,800, we will see 6,000 next," he said. The Dow fell 223.73, or 2.6%, to 8273.58 at the close of trading on Monday.

Tim Seymour said there is no reason to act with so much policymaking hanging in the balance. He said, "Europe and Japan are in recession for the first time since World War II."

Pete Najarian pointed out that the financials haven't participated in any of the recent market runs. "The Financial Select Sector SPDR(XLF Quote) is at its 52-week lows," he said.

Karen Finerman warned viewers of more pain to come for the financials. As a result, she is short on BB&T(BBT Quote), Vornado Realty Trust(VNO Quote) and Simon Property Group(SPG Quote).

Najarian noted the iShares Dow Jones US Real Estate(IYR Quote) is seeing massive put options activity.

Ratigan reported that the Senate Democratic leadership is proposing $25 billion in aid to bail out the auto sector. Seymour said this is just what the market doesn't want, when there is no volume and no buyers. Adami said shares of General Motors(GM Quote) will probably be worthless regardless of the outcome.

Ratigan asked the traders if there is an investment to be made in the oil complex.

Adami said there is no real money to be made in the commodity market. However, he said investors should look at ConocoPhillips(COP Quote) for a valuation play and a piggyback play off Warren Buffett's recent stake."