'Fast Money' Recap: In Need of a Catalyst

NEW YORK (TheStreet) -- The markets ended the week in the red on disappointing consumer sentiment figures.

The Dow Jones Industrial Average fell 76.79, or 0.82%, to 9321.40, and the S&P 500 dropped 8.64, or 0.85%, to 1004.09. The Nasdaq lost 23.83, or 1.19%, to to 1985.52.

Melissa Lee, the moderator of CNBC's "Fast Money" TV show, noted a nice rebound off the session's lows.

Tim Seymour said the rebound was due to short-covering and worries of a "sloppy Monday" if the S&P falls below 992. He said he doesn't think any of the pullbacks will be steep.

Joe Terranova said the market is looking for a "fundamental catalyst" to move it higher.

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

3 Stocks I Saw on TV

Karen Finerman said she didn't put much credence to the consumer confidence number as opposed to more meaningful metrics such as inventory or purchasing. Mike Khuouw added it's been a slow week with not much volume.

Seymour said that although the S&P technically isn't expensive, people are just wondering where the next round of growth is going to come from.

Terranova, referring to a chart in Thursday's show, said there is a significant short open interest that is holding back the market.

Seymour said the market has gone higher in recent weeks because people are no longer satisfied with putting their money in cash and Treasuries and want to put it instead in equities and credit.