'Fast Money' Recap: We're Not Done Sinking

On another tough Thursday for stocks in the U.S., continued concerns about the credit market continued to hold the major indices down. The Dow lost 1.8%, the S&P 500 dropped 2.2%, and the Nasdaq was off 2.3%

On CNBC's "Fast Money" TV show, Guy Adami said, "We're in a bear market. Rallies have to be sold." He pointed to the railroads as a bull market, saying that Burlington Northern Santa Fe (BNI Quote) is reaching attractive levels. He also said he likes DuPont (DD Quote) on a valuation basis.

Jeff Macke said that although the markets were back to last summer's low, there wasn't the same panic. Goldman Sachs (GS Quote) fell to $158, which is an attractive level, he said, but he would've liked to see more volatility.

Pete Najarian said that with Citigroup (C Quote) trading at book value and with the airlines, Carnival (CCL Quote) and the hotels clobbered, it's a tough market. He agreed that the volatility wasn't where it should be for a bottom. With oil at $105 and foreclosures and delinquencies causing problems, it's ugly, he said, but he said he doesn't see a bottom before commercial real estate loan data comes through. ...