'Fast Money' Recap: The Schizoid Dow

Huckman talked about a drug called Trexima, made jointly by GlaxoSmithKline (GSK Quote) and Pozen(POZN Quote). A biotech analyst is speculating that Pozen will trade to $22 if it's approved and drop to $13 if not. (Real Money Take: Roger Nusbaum wrote about GSK recently: "The allocation would be 6% to GlaxoSmithKline (GSK) and 5% to Pfizer (PFE)." For more, check out this article.)

Pete Najarian feels that Trexima could be huge. Huckman says that HMO's are now only paying for 4 to 5 pills a month for migraine patients, which could hurt the blockbuster potential of this drug. Huckman added that Allergan(AGN Quote) is in phase III clinical trials testing Botox for migraine suffers.

Call for Help

In this turbulent market, wireless telecom continues to shine. The "Fast Money" crew discussed the way to play it. Guy Adami loves Research In Motion (RIMM Quote) calling it an "animal." Pete Najarian, for the second day in a row, likes Alvarion(ALVR Quote) as a trade on WiMax. (Real Money Take: Jim Cramer wrote about RIMM recently: "The next selloff will not hurt the Research In Motions (RIMM)." For more on what Cramer said, check out this article.)

He also is bullish on FiberTower(FTWR Quote), which had a monster day Wednesday. Eric Bolling likes the strength in AT&T(T Quote), which goes up when the market goes down.

Preserve Your Reserves

Consumer-product companies could be the play to help investors protect returns. On Thursday Clorox(CLX Quote) reports earnings, and Procter & Gamble (PG Quote) reports Friday. (Real Money Take: Dick Arms wrote about CLX recently: "Clorox appears to have turned up again after a two-month decline. I like to see the heavy volume coming in on the upside. In the last two days, it has pulled back from the breakout on light volume." For more on what Dick said, check out this article.)

Eric Bolling likes the Consumer Staples Select Sector SPDR Fund (XLP Quote). Jeff Macke would be a buyer of PG here, along with Guy Adami. Najarian was bullish on Clorox, Procter & Gamble and Colgate(CL Quote) because all three went up into the close Wednesday. (Real Money Take: Roger Nusbaum wrote about PG recently, "In applying this logic, you are saying that a stock such as Procter & Gamble (PG) has the same risk profile as, say, Baidu (BIDU) That's surely not the case." For more on what Roger said check out this article.)

Sector Trade

Wednesday's focus was on the "Magellan trade." GPS maker Garmin(GRMN Quote) was up 10% after reporting a 72% jump in revenue. Also, Trimble(TRMB Quote) and Navteq(NVT Quote) were up on solid earnings. Garmin CFO Kevin Rauckman joined the crew to discuss his company's prospects. Bolling asked the CFO to, "give us a window into your demand." Rauckman said that "in the first half of the year we've seen very strong growth in the U.S market, so strong, we've seen a 300% increase on units sold in Q2."