'Fast Money' Recap: An Encouraging Rally

Ratigan then asked Brad Hintz, a securities analyst with Sanford Bernstein, to comment on Goldman Sachs (GS Quote) future as a bank holding company. Ratigan said Goldman figures to have a difficult time, with "diminished leverage" as a bank holding company.

Hintz said Goldman's problem is that more than 60% of its revenue comes from its capital intensive business such as trading and merchant banking. "Take that leverage away and the performance drops," he said.

He said there's nothing wrong with Goldman's investment banking and asset management businesses, but they don't make up what it was getting from its trading business.

The analyst said Goldman needs to restructure its business mix while dealing with the "instrusive regulatory" eye of the Fed and the New York superintendent of banks.

Hintz said Goldman is going to see its "momentum slow" because "suddenly it can't take the risks it used to take."

Pressed by Ratigan for a price point for Goldman stock, Hintz said one would "have to look through to the recovery and say this is a great stock." "The problem is we have an institutional brokerage stock in a debt-credit market that just isn't going to generate great returns" except for what it gains from "government trading."

Jon Najarian told the trading panel there is a great trading opportunity in commodities, which have been "sold off so severely that their asset value is grossly understated." Adami agreed, saying it's just a matter of time before commodities become a good play, when deflation moves to inflation sometime next year.