'Fast Money' Recap: Jobless Worries

NEW YORK (TheStreet) -- The markets sank again Thursday ahead of the monthly jobless report.

The Dow Jones Industrial Average fell 24.71, or 0.27%, to 9256.20, and the S&P 500 dropped 5.64, or 0.56%, to 997.08. The Nasdaq declined 19.89, or 1%, to 1973.16.

Guy Adami said on CNBC's "Fast Money" TV show, that a lot of investors were trying to get out of the market ahead of Friday's unemployment report for July. He also said that a lot people were telling him that "bull markets end on great data." "You might see that tomorrow," he said.

Joe Terranova noted a wave of selling of major financial stocks like Morgan Stanley(MS Quote) and JPMorgan Chase(JPM Quote) after they had come out strong early in the trading session.

For a breakdown of stocks from a recent "Fast Money" show, check out Dan Fitzpatrick's "3 Stocks I Saw on TV."

3 Stocks I Saw on TV

Pete Najarian told viewers to be careful of Wells Fargo(WFC Quote), saying the put activity has been heavy on the stock. "Maybe there's a secondary there to pay back the TARP it owes," he said. Adami said he would short Wells Fargo here.

Shifting to technology, Pete Najarian said Cisco(CSCO Quote) bounced back after being down when investors saw an opportunity to get in on a slight pullback. Najarian said the news from Cisco's earnings reports wasn't that bad.

Adami sees Intel(INTC Quote), which has been hovering around the $19 level, heading down. He still likes Western Digital(WDC Quote), which had a "ridiculous quarter" and is at its 52-week high.