'Fast Money' Recap: GM Runs on Oil

Erin Burnett hosted CNBC's "Fast Money" Monday night, starting the show by asking, was today's market action a bearish signal, or is the big money still at the beach? She explained that the market started up 200 points but ended down as oil plunged $6 a barrel.

Guy Adami explained that the move in the stock market this morning was an "oil move." However, he pointed out that traders reassessed the situation and figured out that oil was down because the global economy is slowing. He mentioned that some stories continue to work, such as Johnson & Johnson(JNJ Quote) and Church & Dwight(CHD Quote), which hit 52-week highs today.

Jeff Macke stated that one trade that has worked all year when the market opens strong is to sell. He says we're in a bear market. Pete Najarian advised viewers to keep their stops in place.

Burnett said the best stock in the Dow today was General Motors(GM Quote). Macke said the fundamental news for General Motors can't get worse. He said the stock works for a trade here, and you can't be short the name. Najarian pointed out that the "GM trade" has worked because oil prices have been falling. ...