'Fast Money' Recap: Global Godzillas

Eric Bolling told the viewer to get out of iShares MSCI Emerging Markets Index(EEM Quote) if he's scared.

The second viewer email posed a question specifically for Bolling: "Is Exxon Mobil(XOM Quote) getting killed more so due to the 500 pts the DOW has lost? If the market was flat, what do you think XOM would be trading for?"

Bolling said to get out of refiners and integrated oil. Eric is bullish on oil services and his pick is Oil Service HOLDRS(OIH Quote). Pete Najarian said he would buy put options as an insurance policy on Exxon. .

Alternative Energy

Oil is closing in on $80 and the crew took a good look at alternative energy plays. Before the bell Monday, Cameco(CCJ Quote) beat estimates by 13 cents, but the stock turned lower for the day on poor guidance.

Cameco CEO Gerald Grandey appeared to discuss his company's prospects. He was asked about demand, and he said, "As fossil fuels become more expensive people recognize the benefits of nuclear. There's a real buzz about nuclear power these days."

Next, he was asked if as oil moves higher, does demand for his company's products move higher? "Not really, because building a new nuclear plant takes 8 to 10 years. There's more recognition that nuclear has to be a larger component in the future." Grandey stressed that his company is a long-term play especially with thir position in the nuclear energy space.