'Fast Money' Recap: The Schizoid Dow

The Dow is bizarre and schizophrenic.

That was the word from the "Fast Money" gang Wednesday, after the stock market experienced wild volatility, with the Dow dropping 79 points and then rallying back 150 at the close. Pete Najarian highlighted the put-to-call ratio on the Financial Select Sector SPDR(XLF Quote), which tells him there are no bottom fishers in the financials.

Word on The Street

Najarian saw strength in names such as United Technologies(UTX Quote), Boeing (BA Quote) and Johnson & Johnson (JNJ Quote). He also likes tech names Juniper(JNPR Quote) and Cisco Systems (CSCO Quote), which closed near their day's high.

Eric Bolling suggests that market players shouldn't make any big bets right now. Bolling gave us a pairs' trade, going long Goldman Sachs (GS Quote) and short Citigroup(C Quote). Najarian liked that Goldman closed up today. Beazer Homes(BZH Quote), however, saw its stock fall 40% on bankruptcy rumors.

The company released the following statement today: "We have become aware of rumors circulating in the market about Beazer Homes' liquidity and a prospective bankruptcy filing. We do not know where these scurrilous and unfounded rumors started." Adami highlighted how the stock traded its float and then some. Bolling believes that BZH is going bankrupt, and Najarian would avoid the sector. Crude oil traded to a new all-time high today; Bolling says refinery utilization at 93% is the reason.

Najarian would look to the oil services sector and get out of the refineries. General Motors(GM Quote) and Ford (F Quote) reported a decline in sales Wednesday, while Toyota (TM Quote) saw its first drop in sales in three years.

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