By Roberto Pedone

WINDERMERE, Fla. (

Stockpickr

) -- The traders of

CNBC's

"Fast Money" fear the market is starting to show signs that a major correction is back on the table. On Wednesday's "Halftime Report" segment, Joe Terranvoa told viewers that he's watching the action in copper. He pointed out that the metal traded below the psychologically important $3 level. Terranova is worried that the heavy selling pressure hitting the commodity complex could spill over into the rest of the market.

Brian Kelly of Kanundrem said the ISM number makes him want to sell coal stocks. He explained that the weak ISM means that inventories are too high, which could be a sign that the economy is slowing since people are using less electricity.

Scott Redler of T3 mentioned that he's watching

Goldman Sachs Group

(GS) - Get Report

for an indication on market direction. He thinks if Goldman fails at the 200-day moving average ($160), it will signal the market is ready to trade lower, and he would open up short positions on the

S&P 500

around the 1125 level.

Jared Levy of Peak6 said he's seeing a lot of downside put-selling in the bank space. He thinks the action is bullish or just due to investors looking to buy protection against any major sweeping changes to banking legislation. Mike Gurka said he's watching the Dow Transports, which have dropped below the 100-day moving average of 3986. Gurka thinks the market psychology is starting to get uneasy about the future of stock prices.

The "Fast Money" crew has recently highlighted trading ideas that play off oversold bank names; stocks that have received buy or sell calls from top analysts and stocks with unusual options activity. Here are some highlights from over the past week as aggregated from the show.

Fast Money's Oversold Bank Stocks

: Recently, investors bid up bank stocks after a published reports suggested that the Volcker plan may be in serious jeopardy. Is it time to jump back into the bank stocks? On Monday's "Fast Money" show, Karen Finerman (view

Finerman's Portfolio

on Stockpickr) told viewers: "At current levels, I'm getting interested in

JPMorgan Chase

(JPM) - Get Report

." The

Fast Money's Oversold Bank Stocks

portfolio includes

Bank of America

(BAC) - Get Report

and

Goldman Sachs Group

(JNPR) - Get Report

GS.

Fast Money's Top Tech Trades

: How should investors be positioned now that weak outlooks from

Motorola

(MOT)

and

Qualcomm

(QCOM) - Get Report

helped to take down the technology sector across the board? On last Thursday's "Fast Money" show, Tim Seymour told viewers: "I think the tech trade is still very difficult. I certainly wouldn't chase

Amazon.com

(AMZN) - Get Report

." The

Fast Money's Top Tech Trades

portfolio includes

IBM

(IBM) - Get Report

and

VMware

(VMW) - Get Report

.

Fast Money's Anti-Volatility Trades

: If your investment strategy is "slow and steady wins the race," the crew has just the trade for you. On last Wednesday's "Fast Money" show, Pete Najarian told viewers: "I really like

Pfizer

(PFE) - Get Report

. They're bringing back dividends, and it's a fairly low volatility name." The

Fast Money's Anti-Volatility Trades

portfolio includes

Johnson & Johnson

(JNJ) - Get Report

and

Gilead Sciences

(GILD) - Get Report

.

TheStreet Recommends

Fast Money's Options Trades & Activity

: The traders have noticed some unusual options activity in a number of stocks, and they have highlighted a number of options trades. On Tuesday's "Fast Money" show, Guy Adami told viewers: "I'm concerned about the volume of puts trading in the

Financial Select Sector SPDR ETF

(XLF) - Get Report

. I think on options expirations we see the next leg lower." The

Fast Money's Options Trades & Activity

portfolio includes

InterMune

(ITMN)

and

Cisco Systems

(CSCO) - Get Report

.

Fast Money's Big Week for Pharma Trades

: Considering that

Pfizer

(PFE) - Get Report

and

Sanofi-Aventis

(SNY) - Get Report

are among the many Pharma players reporting this week, how should you play the space? On Monday's "Fast Money" show, Pete Najarian told viewers: "I'm watching

Cephalon

(CEPH)

. This company is absolutely clicking." The

Fast Money's Big Week for Pharma Trades

portfolio includes

Celgene

(CELG) - Get Report

and

Amgen

(AMGN) - Get Report

.

Fast Money's Calls of the Day

: The traders gave out their take on a number of calls from some of Wall Street's top analysts. On Monday's "Fast Money" show, Pete Najarian told viewers: "I agree with the call by Citigroup to add

Freeport McMoRan Copper & Gold

(FCX) - Get Report

to their top picks list. But the chart is broken, so I'd be patient. They're probably a little early." The

Fast Money's Calls of the Day

portfolio includes

Google

(GOOG) - Get Report

and

Blackstone Group

(BX) - Get Report

.

-- Written by Roberto Pedone in Windermere, Fla.

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Roberto Pedone is an independent trader who focuses on stocks, options, futures, commodities and currencies. He is also an outside contributor to Beconequity.com and maintains the website Maddmoney.net, which he sold to Blue Wave Advisors in 2008. Roberto studied International Business at The Milwaukee School of Engineering, and he spent a year overseas studying business in Lubeck, Germany.