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The stock market was crushed Thursday with the Dow dropping 362 points and the Nasdaq falling 64 points. The team at CNBC's "Fast Money" tried to find the silver lining in the clouds.

According to Karen Finerman, the fear in the market started Wednesday with the language from the

Federal Reserve

. Jeff Macke believes the market lost the perspective of an active Fed and that makes it difficult to buy stocks. In Pete Najarian's opinion, volatility is going to continue to run the market up and down. He feels the financials are terrible here. He sold his

(BIDU) - Get Baidu Inc. 百度 Report

position and he added to his position in


(GOOG) - Get Alphabet Inc. Report


BHP Billiton

(BHP) - Get BHP Group Limited American Depositary Shares (Each representing two) Report


Opportunity in the Selloff

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Jonathan Merriman, Chairman & CEO of Merriman Curhan Ford & Co joined the "Fast Money" crew to discuss stocks he feels have potential in the selloff. Merriman likes

Smith & Wesson

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TheStreet Recommends


here and thinks it's a huge opportunity to buy the stock while it's down. He likes the earnings power and SWHC brand and he would be a buyer with both hands at $10.

Macke still likes the video game stocks like

Electronic Arts




(ATVI) - Get Activision Blizzard Inc Report

. He is currently long ATVI. Adami recommends buying



. Finerman likes





(CROX) - Get Crocs Inc. Report

both of which she bought into Thursday's market selloff. However, Merriman thinks she is very early to be buying CROX here. Najarian favors


(MTW) - Get Manitowoc Company Inc. (The) Report

and feels it too was unjustly beaten down Thursday. He's also keeping an eye on



which he feels is a buy now.

Kass Comments

Doug Kass, founder and president of Seabreeze partner, joined the "Fast Money" crew to give his take on the mortgage insurers. Kass thinks names like



PMI Group




(MBI) - Get MBIA Inc. Report

simply don't have enough capital to keep running. He reminded viewers that these firms aren't banks and they have no access to the discount window. Furthermore if the market takes out the private market insurance business, it will crush

Fannie Mae



Freddie Mac



Washington Mutual

(WM) - Get Waste Management Inc. Report

. Kass also says his sources are telling him that


(C) - Get Citigroup Inc. Report

will get rid of CEO Chuck Prince this weekend in a special board meeting.

It's good to be the King?


Charlie Gasparino joined the "Fast Money" crew to discuss his take on the CEO turmoil at


(C) - Get Citigroup Inc. Report

. Gasparino agrees with Kass and expects that Citigroup CEO, Chuck Prince, is about to get the axe. Based on his sources, the feel right now is that Prince is out by Monday. The only problem is that it will be hard to find someone capable of running Citigroup. He speculated it could be Robert Rubin who gets the job temporarily while the firm looks for a more permanent CEO. Speculation is also swirling around Wall Street that John Thain could be in line to get the job. Macke says its obvious that Prince is gone and the stock goes much higher if they find his replacement from outside the company.

Najarian feels that

Bear Stearns



Merrill Lynch


would benefit the most from a management change. He also mentioned that both MER and BSC have tremendous upside. In Gasparino's mind, Bear Stearn's CEO Jimmy Cayne would have to take a massive write-down for him to lose his job. Finerman is long

Goldman Sachs

(GS) - Get Goldman Sachs Group Inc. (The) Report

and short Merrill and plans to stay that way.

Word on the Street

Crude oil trades over $96 before selling off to close at $93. Adami was surprised that

Exxon Mobil

(XOM) - Get Exxon Mobil Corporation Report

didn't go lower on Thursday after the company saw a decline in profits due to tighter margins. He sees the valuation on


(CVX) - Get Chevron Corporation Report

as compelling and there could be a buying opportunity in the stock.



is another name to look at here. Finerman is on the same page and bought some Tesoro on Thursday for the attractive risk to reward scenario. However, Najarian thinks it's too early to buy the refiners and that CVX will get killed Friday when they report earnings.


(MSFT) - Get Microsoft Corporation Report

bucked the trend on Thursday and finished the day up. Macke feels positive about the fundamentals and valuations in the technology sector. He still likes


(HPQ) - Get HP Inc. Report

and he mentioned


was working Thursday.

Las Vegas Sands

(LVS) - Get Las Vegas Sands Corp. Report

plunged 17% after hours on a bearish earnings report. Najarian maintains this one was way over valued. The Wall Street Journal is reporting that


(F) - Get Ford Motor Company Report

is looking to trim internal 2008 budget and spending by up to 15%. Adami remarks that this is good news for Ford and he is sticking by his price target of $9.75

Pops & Drops


Investment Technology Group


traded up 2% after beating Wall Street profit estimates. Adami likes IGT.

United Therapeutics

(UTHR) - Get United Therapeutics Corporation Report

exploded 38% higher after study results showed its inhaled-high blood drug, Viveta, has meet the primary end point. Najarian was wowed on this pop.


Sprint Nextel

(S) - Get SentinelOne Inc. Class A Report

fell 3% after profits fell 73% in the third quarter. Macke is no fan of Sprint.


(MTW) - Get Manitowoc Company Inc. (The) Report

fell 11% off of concerns for the crane maker's backlog. Najarian disagrees with the market and points out that the numbers are incredible and this stock is going higher.


(GRMN) - Get Garmin Ltd. (Switzerland) Report

fell 7% on concerns over a bidding war with TomTom for Tele Atlas. It's a great company, but Finerman tells investors that the valuation is high.


(TGT) - Get Target Corporation Report

fell 5%. Macke says TGT is a well run company, but he doesn't think they're going to report huge numbers on earnings day.


Viewers write in with questions of their own to be answered.

Cathy writes, "Are




(AAPL) - Get Apple Inc. Report


Research In Motion


trying to beat each other for the highest share price? Why don't they ever split? Macke says Apple and Research In Motion have split. He advised Cathy not to believe the hype on stock splits just buy less shares.

Scot from Virginia asks, "Mr. Adami liked


(FLR) - Get Fluor Corporation Report

before he went on vacation and I wanted to know if the rate cut changed his mind on the construction services sector?" Adami still likes Fluor and he feels the story is still intact.

Phyllis from California writes, "I want to know what Karen is going to do with

BEA Systems


with the


(ORCL) - Get Oracle Corporation Report

deal off. I followed you in and I want to know should I hold or sell?" Finerman thinks by the end of the day we will see a deal with Oracle and BEA Systems.

John wants to know, "I own some

Dicks Sporting Goods

(DKS) - Get Dick's Sporting Goods Inc Report

and I know you like them as well based partially on their sales of names like

Under Armour

(UA) - Get Under Armour Inc. Class C Report



(NKE) - Get Nike Inc. Report



. Was the recent sell-off based on Croc's numbers and does this change your bullish sentiment on the company? Najarian tells John that even though there are some concerns for Dicks Sporting Goods, right now he still likes the company.

Coast to Coast

Thomas Herzfeld, of Thomas J. Herzfeld Advisors, joined the "Fast Money" crew from Miami to discuss his take on closed-end funds. Herzfeld feels that end of the year tax selling is pushing some closed-end funds below fair value. He feels that

Clough Global Opportunities

(GLO) - Get Clough Global Opportunities Fund Report


DWS Dreman Value Income Edge Fund


are too cheap on a valuation basis.

Final Trade

The team gives their final and best ideas before signing off after a rough day in the market.

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