'Fast Money' Recap: Volatility Knocking

The crew on CNBC's "Fast Money" show Tuesday tangled with whether the stock market has finally seen the worst, or whether it's just resting before the next decline.

Pete Najarian said volatility is starting to subside and there's now a great chance for the Fed to sit on the sideline. Jeff Macke said to buy the CBOE Volatility Index(VIX Quote - Cramer on VIX - Stock Picks), as this is just the calm before the storm.

Constance Hunter said the yen rallying means the carry trade is still under pressure; she'd also buy the VIX.

Najarian believes the credit worries are now priced into the market and he'd be a buyer of stocks like Bank of America(BAC Quote - Cramer on BAC - Stock Picks), Citigroup(C Quote - Cramer on C - Stock Picks), Wells Fargo(WFC Quote - Cramer on WFC - Stock Picks) and Capital One(COF Quote - Cramer on COF - Stock Picks).

(RealMoney Take: Jim Cramer said recently, "The case for Capital One is a compelling one" To read more on what Cramer said, click here.)

Crude oil fell below $70 after the hurricane missed key gulf oil platforms. Guy Adami believes oil is getting cheap at these levels as hedge funds have had to liquidate energy stocks recently.

Tech stocks were again some of the strongest performers on Tuesday. Najarian would be a buyer of EMC(EMC Quote - Cramer on EMC - Stock Picks), VMware(VMW Quote - Cramer on VMW - Stock Picks) and Research In Motion(RIMM Quote - Cramer on RIMM - Stock Picks).

(RealMoney Take: Dan Fitzpatrick recently said, "EMC has been in a steep uptrend for the past year. A strong on-balance volume indicator (a gauge of accumulation vs. distribution) increases the likelihood that this latest pullback is a function of profit-taking rather than an outright rejection of the uptrend." To read more on what Fitzpatrick said, click here.)

Adami would buy Network Appliance(NTAP Quote - Cramer on NTAP - Stock Picks) and he thinks it goes to $30. Hunter would buy Apple(AAPL Quote - Cramer on AAPL - Stock Picks) -- she believes the stock is oversold. Macke likes Intel(INTC Quote - Cramer on INTC - Stock Picks) to $30 if the consumer isn't dead.

Target(TGT Quote - Cramer on TGT - Stock Picks) reported a 13% jump in profit and reaffirmed forecasts for the rest of the year. Macke believes specialty retail stocks are screaming buys, and he likes GameStop(GME Quote - Cramer on GME - Stock Picks) and Zumiez(ZUMZ Quote - Cramer on ZUMZ - Stock Picks).

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