'Fast Money' Recap: We Get a Glimmer

Ratigan brought up the news that the General Motors(GM)-Chrysler merger has hit a snag. Adami said the Treasury can't finance this deal because it will cost people their jobs. Karabell said the auto industry is an example of something that has been allowed to live too long. He says "cars don't have to be made in Detroit by these companies."

Charles Biderman, president of Trimtabs Investment Research, joined the crew to discuss money flows in and out of capital markets. He told viewers that this has been a hedge-fund bubble created by higher energy prices. He says "one trillion dollars in extra money that went into hedge funds created a bull market for every asset class around the planet." He said we won't get back to the same level because the money coming out of real estate has stopped.

Trade the Vote

Strategic investor Dennis Gartman joined the traders to talk about how to trade the outcome of the presidential election. Gartman said the market believes that Obama is going to win. He pointed out that the best stock markets come when you have a Democratic president. Terranova said the best markets come when you have a Democratic president combined with checks and balances in the Congress.

Gartman explained that if Obama raises the capital gains tax, it will send the wrong signal to investors around the world. He says "capital goes to where it is treated the best." He also mentioned that if Obama wins, we are going to see a much more regulated environment that will last for a long time.

Media Outlook

Anthony DiClemente, Barclays Capital entertainment and broadcasting analyst, joined the traders to talk about the media complex. He said that advertising dollars are way down. He told viewers he wants to upgrade media names like CBS(CBS), Disney(DIS), News Corp.(NWS) and General Electric(GE), but advertising and consumer dependency are difficult to monetize at this time.

He explained that Google(GOOG) and Apple(AAPL) have shown that the best forms of distribution are very important. He said he doesn't know how investors can buy CBS when numbers are going to come down in the next few quarters.

Trader Radar

Shares of J.M. Smucker(SJM) were among the most active names on the NYSE Friday.

Final Trade Seymour likes the UltraShort Emerging Markets ProShares(EEV). Adami recommended Novartis(NVS).

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