'Fast Money' Recap: Oil's Impact

Najarian briefly noted heavy call activity in Energy Conversion Devices(ENER), which was up nearly 8% today. Najarian said he didn't know why it was up, although he said it might have to do with the "monster" short interest and the company's CEO pulling out unexpectedly from a scheduled conference.

Is biotech ready for a breakout? Mark Schoenebaum, a Deutsche Bank analyst, said Genzyme(GENZ) could be a sleeper.

He said Genzyme has been dogged by production problems of two drugs that treat rare diseases. He said it also has had a run-in with the Food and Drug Administration. If Genzyme can get over to these problems, it's the cheapest biotech stock, he said.

Schoenebaum said his best biotech trade is Gilead Sciences(GILD) which he says is a "phenomenally" managed company.

Lee shifted the discussion to Obama's Monday address on Wall Street reforms. Troccoli said the best way to improve the regulatory process is to recruit people from the Street to regulate the businesses they know.

In a weeklong sessionon lessons from the Lehmans debacle a year ago, Terranova said he learned the value of taking defensive measures. He told viewers of the value today of putting in stop-loss orders and puts.

There weren't any final trades.

-- Written by David Tong in San Francisco

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