"Fast Money" Recap: Happy Days are Here Again

Trading on the Unknown

The market currently has 3 major unknowns. The unknowns are the US economy, the housing market and the credit crunch. The team counsels investors on how to deal with these uncertainties and profit from them. Najarian says look at China, India, Brazil and South America for a play on global growth. His picks included Companhia Vale do Rio Doce(RIO Quote), Manitowoc(MTW Quote) and BHP Billiton.

Adami says it's known that PC demand isn't going away and Dell(DELL Quote) is the best name. Knowing that commodities are a sure thing, he also recommends a farmer trade with Potash(POT Quote) and Agrium(AGU Quote).

Macke says stick with stuff that has been working like McDonald's(MCD Quote), Hewlett Packard(HPQ Quote) and Intel. (RealMoney Take: Alan Farley said recently, "The McDonald's rally to $55 confirms a healthy breakout and start of an uptrend that should carry price into the $60s." To read more on what Farley said, click here.)

Finerman would lower risk with big multinationals that have safe balance sheets. Kraft(KFT Quote), Estee Lauder(EL Quote) and Johnson & Johnson(JNJ Quote) come to mind. She recommends investors own put options for a hedge during market declines.

Chartology with Louise Yamada

The "Fast Money" crew, welcomed Louise Yamada, the highest ranked technical analyst on Wall Street from 2001-2004, to the show Friday to discuss her take on the market and a few select stocks. Yamada thinks the S&P 500 could go through the all-time highs, but the volume is less than impressive in her eyes. Adami thinks the market is setting up for a nice rally into next year. Yamada took a look at the chart of Cisco(CSCO Quote). She declares that CSCO is a buy right now and is poised to go much higher. Macke agreed and said that big cap tech is under owned.