'Fast Money' Recap: No Place to Hide

The Big Three's Big Day

On the eve of the Big Three's reappearance in Congress, Phil Lebeau, CNBC's auto reporter, said viewers should expect the automakers to present their business plans on how they would use the bailout money to get back in the black.

He said the United Auto Workers may be open to changes in their contracts, executives may take $1 in pay, and the automakers may suggest how they might shed brands and production plants they don't need.

More on the Economy

Jason Trennet, an investment strategist with Strategas Research Partners, complimented the Fed's actions to contain the economic crisis and said it was doing a good job. As a result, he believes the country will be able to get out of the current economic crisis more quickly than people think.

John Roque, a technical analyst with Natixis Bleichroeder, said the trend is definitely down in the market. "There should be a rally, but it hasn't occurred. If there is a rally, it will happen from lower, not here." Roque said most people are putting their money in the 30-year and 10-year Treasury bonds, a strategy Finerman found "scary."

Ratigan noted some people are finding a refuge in fixed income investments instead of stocks. "Carl Icahn and others are doing that," he said.

Finerman suggested one way to play this investment is with iShares iBoxx $ High Yield Corporate Bond Fund(HYG Quote). Seymour suggested getting into high-grade "utility stuff."