'Fast Money' Recap: Time to Get Healthy

Dylan Ratigan hosted CNBC's "Fast Money" Thursday night. He kicked off the show with a discussion about how the most economically sensitive stocks were sold off today. He pointed out that whether we get a bailout or not on Friday, it might not matter.

Ratigan mentioned that borrowing at the Federal Reserve's discount window was up 50% from last week at $400 billion. Pete Najarian said it's terrible when you have companies like General Electric(GE Quote) and Goldman Sachs Group(GS Quote) that are forced to do "sweetheart deals" with Warren Buffett.

Tim Seymour says short-term borrowing is dead. "I don't think GE has huge liquidity issues, but I do think it's a backstop at an amazing cost," he added.

Seymour also mentioned that China had some numbers out this morning that showed the commodity sector has more room to fall. Jeff Macke says cash and the fetal position are the only two things you can get away with right now.

Ratigan said the health care names were strong today. Guy Adami said Church & Dwight(CHD Quote) and Johnson & Johnson(JNJ Quote) are the names that will get you through it if you need to be in the market right now. He told viewers to look at Novartis(NVS Quote), which was down for a play on valuation.

Najarian says health care names like Biogen(BIIB Quote) and Amgen(AMGN Quote) continue to work because of the "need basis" and exposure level. "You don't suddenly stop needing your medication," he said.

Ratigan brought up the major declines in commodity names that were the global growth proxy. Seymour pointed out that Merrill Lynch started the fall by downgrading oil and saying crude could fall to $50 by next year. Macke says if you're looking for a bottom on these things, you will be waiting for a long time. "These stocks were ahead of themselves, and the funds are getting liquidated," he said. Adami pointed that gold was down big Wednesday and today, and if you're piling into it for a short-term "safe haven" trade, you're wrong.