'Fast Money' Recap: Bear Trade

The stock market took another beating Wednesday with the Dow closing down 211 points and the Nasdaq finishing down 34. The S&P 500 has now given up all of its gains on the year. The crew at CNBC's "Fast Money" tried to find good trades in the bear market. They also asked guests Dennis Gartman and Mike Huckman to discuss the oil and pharmaceutical outlooks, respectively.

Pete Najarian continues to like the four horseman names like Apple(AAPL Quote - Cramer on AAPL - Stock Picks), Google(GOOG Quote - Cramer on GOOG - Stock Picks) and Research In Motion(RIMM Quote - Cramer on RIMM - Stock Picks) which showed strength on Wednesday. Najarian also thinks that buying puts on the financials will continue to work in this market.

Guy Adami recommended getting long General Motors(GM Quote - Cramer on GM - Stock Picks) right here with a specific stop price in mind. However, Jeff Macke thinks there is no compelling reason to be long GM or the market right now. Karen Finerman mentioned she had almost no buy tickets out on Wednesday. She did find it strange that Fannie Mae(FNM Quote - Cramer on FNM - Stock Picks) went up Wednesday.

Dennis Gartman's Take

Crude oil came close to $100 on Wednesday, but fell just short and finished the day at $97.19. Dennis Gartman, author of The Gartman Letter, joined the "Fast Money" crew to discuss his take on oil and the markets. Gartman feels the stock market is behaving horribly and he is short names like Harley-Davidson(HOG Quote - Cramer on HOG - Stock Picks), Tiffany(TIF Quote - Cramer on TIF - Stock Picks) and Coach(COH Quote - Cramer on COH - Stock Picks) and long Microsoft(MSFT Quote - Cramer on MSFT - Stock Picks)and Apple(AAPL Quote - Cramer on AAPL - Stock Picks).

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