'Fast Money' Recap: How Crude

Najarian pointed out that the refiners like Valero Energy(VLO Quote) and Tesoro(TSO Quote) were hot today. He also noticed unusual options activity in refinery company Frontier Oil(FTO Quote). He said the September $20 calls were very active with over 10,000 contracts trading hands.

Next, the traders talked about the retail sector, which is due out with some big August same-stores sales figures on Thursday. Macke said the results will be ugly and disappointing. He said he's trading it by staying long Wal-Mart(WMT Quote). Adami said now is the time to take profits in Home Depot(HD Quote) and look to buy it back cheaper. Finerman mentioned she took some profits in J. Crew Group(JCG Quote) and J.C. Penny(JCP Quote) because the stocks have made big moves in the last two weeks.

The "Fast Money" traders moved on to talk about the technology sector. Najarian pointed out that technology is getting weak. He feels hedge fund manager Bill Fleckenstein is going to be right that tech is the next sector to take a big hit. Najarian mentioned that Corning(GLW Quote), Research In Motion(RIMM Quote) and Apple(AAPL Quote) are all getting weaker even when the tape is strong. Adami disagreed on Corning. He said now is the time to take a look at GLW on valuation.

Burnett pointed out that auto stocks traded up today. Macke said General Motors(GM Quote) is trading well, but the stock is just a call option on "the dead." Najarian said he likes Honda(HMC Quote) because it has jumped into solar and the hybrid market. He feels the GM and Ford trade is all about oil. Macke said he continues to short Toyota Motor(TM Quote), which he feels is the most over-rated company on the planet."