'Fast Money' Recap: The Massive Layoffs Continue

Tim Seymour said he's started to see some "urgency and demand" for coal and iron ore. He said the way to play that is with Companhia Vale Do Rio Doce(RIO).

Pete Najarian said to keep an eye on SPDR S&P Biotech ETC(XBI) as a way to trade in a basket of biotech names that have performed well in a bad year for stocks.

Ratigan asked Jeff Lindsay, an analyst for Sanford & Bernstein, for his thoughts on Yahoo! (YHOO) which reports its earnings after the bell on Tuesday.

Lindsay is pretty cautious about the stock and wants to wait until the new CEO and its team comes out with their plan. He said the company might out put its first negative revenue growth guidance in five years.

Lindsay said he likes Google (GOOG) because its paid search business has become the premier online ad model. "It's been holding well in this down market," he said.

Lindsay said the stock, which is trading at a 15 multiple, is cheap, adding Google definitely has a good shot of penetrating China's market at the expense of Baidu(BIDU), which is entangled in a few scandals.

In the "rising star" segment of the show, Pete Najarian had high praise for Palm(PALM), which won rave reviews for its new Pre Phone. He said the company needs more money to market the phone to compete with Apple (AAPL) and Research In Motion (RIMM).

In the final trades, Adami was for Home Depot(HD). Seymour liked CurrencyShares Australian Dollar Trust(FXA). Najarian liked Palm.

"Check out "'Fast Money' Portfolios of the Week" on Stockpickr every Thursday.

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