'Fast Money' Recap: Beware the Banks

Melissa Lee hosted CNBC's "Fast Money" on Friday night and said "it has been a very volatile week."

Joe Terranova brought up the good news this week on the upward revision on GDP as a results of strong exports. He said that "oil at the end of the day was flat," but the story isn't over until Tuesday next week to see what becomes of Tropical Storm Gustav -- whether it will become a hurricane and devastate the Gulf Coast.

Pete Najarian said when you have "a 2.7% gain on the S&P 500 in the past two days," it is not surprising to see people take some profits before the long Labor Day weekend. He said that today, investors were simply trying to find an excuse to sell -- and that is just what they did. ...