'Fast Money' Recap: No Place to Hide

Dylan Ratigan summed up the feelings of Monday's market crash when he said on CNBC's "Fast Money" TV show there "was no place to hide" from the wrath of the bears.

Stocks, gold, oil plunged, as the global economy fell deeper into an abyss. The Dow Jones Industrial Average plummeted 679.95, or 7.7%, to 8149.09. The Nasdaq dropped 137.50, or 9%, to 1398.07. And the S&P 500 sank 80.03, or 8.9%, to 819.12

Jeff Macke wasn't in a cheerful mood about the start of the holiday shopping season last weekend, saying the margins for retailers have been a "train wreck." "They had to give away the merchandise," he said.

Guy Adami was a little more optimistic about a rally, saying today's 8.9% drop in the S&P 500 was a "textbook correction" from last week's big rally. Now, he said, "If we collapse tomorrow, I'll jump off the bridge"

Tim Seymour said the "data flows" this week, including the nation's unemployment report, could wreak more havoc on the market.

Adami told viewers there could be a trading opportunity in Liz Claiborne(LIZ Quote), where 18.5 million shares traded today, compared to the usual 3 million shares. He said he would buy the stock on a bounce.

Ratigan said the next big problems could be in the credit front. Meredith Whitney, an analyst for Oppenheimer & Co., said banks are pulling lines from consumers just when they are losing their jobs.

The traders said the financial institutions most affected by this pullback include Morgan Stanley (MS Quote), Goldman Sachs (GS Quote), Citigroup (C Quote), MasterCard, JP Morgan Chase (JPM Quote) and American Express (AXP Quote).