The streets on Wall Street were full of blood Monday. The Dow finished down 172 points and the Nasdaq lost 61 points. The team at CNBC's "Fast Money" look for the silver lining in the clouds of the market and bring in Louise Yamada to read some charts for direction.

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According to Pete Najarian, investors just wanted to take some profits off before the end of the year. Karen Finerman believes stocks are getting cheaper and there is definitely some value out there. Jeff Macke explained that the four horseman of tech like

Google

(GOOG) - Get Report

TST Recommends

and

Apple

(AAPL) - Get Report

led the market lower Monday. In fact, Monday's action could spark a counter trend rally in the four horsemen which he would sell into.

Chartology with Louise Yamada

Top ranked technical analyst Louise Yamada joined the "Fast Money" crew to discuss her take on the current technical state of the markets. Yamada explained that financials have broken a 6-year top and this is a dangerous structural breakdown. She compared the chart for the financials to the S&P Computer Hardware during the 1980s, which went on to under-perform for close to a decade. She recommended selling financials into any strength. Yamada mentioned the chart for

Pepsico

(PEP) - Get Report

is bullish and in an amazing uptrend. Macke thinks Pepsi is a bit extended here, but he would look to buy it on pullbacks.

(Here's a portfolio that is based on technical analysis on Stockpickr.com

PowerShares DWA Technical Leaders

.)

Speaking of Financials....

Goldman Sachs Group

(GS) - Get Report

is set to report earnings on Tuesday,

Morgan Stanley

(MS) - Get Report

on Wednesday and

Bear Stearns

(BSC)

on Thursday. Najarian thinks caution is warranted on the broker stocks. He recommended selling Goldman Sachs once the earnings come out. Finerman mentioned she remains long Goldman Sachs and short

Lehman Brothers Holdings

(LEH)

. Adami warns viewers to avoid Bear Stearns like the plague and look to buy Goldman Sachs on a sell off into the $195 area.

Emerging Market Trade

Tim Seymour joined the "Fast Money" crew to discuss his take on emerging markets. Seymour explained that momentum has been broken and some of the big brokerage houses like Deutsche Bank and Morgan Stanley have started to downgrade emerging markets. He predicts

iShares MSCI Emerging Markets Index

(EEM) - Get Report

and

Petrobras

(PZE)

have 5%-10% more downside. Najarian agreed that global growth names weren't working after Morgan Stanley put out that bearish report. Macke explained that emerging markets are driven by momentum traders and he wants to see more pain before he would get long from a fundamental basis.

(Take a look at this portfolio of emerging stocks on Stockpickr.com

T Rowe Price Emerging Markets

.)

Metals and Oil

Raw material stocks came under heavy pressure with copper hitting new lows. Adami mentioned that

Freeport-McMoRan

(FCX) - Get Report

is a buy at $90. Najarian highlighted some sizeable options activity in

Newmont Mining

(NEM) - Get Report

March calls. He suggests that if gold bounces and the dollar trades lower, Newmont could trade up. However, Adami issued caution in Newmont because he thinks gold still has more downside. Macke agreed with Adami and he suggested investors play

streetTRACKS Gold ETF

(GLD) - Get Report

if they want to be in gold.

Ingersoll-Rand

(IR) - Get Report

announced a buyout of

Trane

(TT)

for $10 billion. Adami explained with a deal of this size getting done the global growth story might not be so bad.

Refiner stocks like

Tesoro

(TSO)

,

Valero

(VLO) - Get Report

and

Holly Corporation

(HOC)

traded up bucking the selloff in crude oil. Adami recommended Holly Corporation for a play on the refiners. Najarian says if you want to play ranges buy and sell Tesoro from $45.50 to $50.

Happy Holidays

According to a CNBC Holiday Central Survey Americans plan to spend $782 on holiday shopping up from $738 last year. Najarian expects the numbers from

Amazon.com

(AMZN) - Get Report

and

eBay

(EBAY) - Get Report

to be staggering. Macke says the trade is to buy

Best Buy

(BBY) - Get Report

because the stock is heavily shorted. He wasn't as optimistic on

Starbucks

(SBUX) - Get Report

calling the stock a sell.

Happy 52-Week High

Coca-Cola Enterprises

(CCE)

POPS&DROPS

Pops -

Lowes

(LTR)

traded up 2% after the conglomerate announced plans to spin off its tobacco division. In Macke's opinion, it's a smart to sell the tobacco division.

LDK Solar

(LDK)

traded up 20% after an internal probe found no material errors. Najarian mentioned that report showed everything is clear and that is what popped the stock.

Sallie Mae

(SLM) - Get Report

traded up 5% after the student loan firm rehired its old CEO, Albert L. Lord. Finerman explained this was a pop after annihilation.

Aon Corporation

(AOC)

traded up 1% after the insurance broker sold two units for $2.75 billion. Adami mentioned Aon has no subprime exposure.

Harley Davidson

(HOG) - Get Report

traded up 2% after the motorcycle maker announced plans to buyback 20 million shares. Macke advises investors to sell HOG because the pop was just a dead cat bounce.

Ambac

(ABK)

traded up 17% after Moody's re-affirmed their AAA rating of the bond insurer. Macke still recommends shareholders sell it.

Drops -

Caterpillar

(CAT) - Get Report

fell 6% after Morgan Stanley downgraded the construction equipment maker.

Adami would buy

Ingersoll-Rand

(IR) - Get Report

on its recent weakness before buying CAT.

DryShips

(DRYS) - Get Report

fell 14% after the shipping firm took a 30% stake in Norway's Ocean Rig. Najarian thinks this could be an opportunity to buy DRYS.

Final Trade

The team hands out their final trade thoughts for the day.

  • Macke would buy Best Buy (BBY) - Get Report into earnings.
  • Adami prefers a refiner like Holly Corporation (HOC) .
  • Finerman recommends DaVita (DVA) - Get Report which she called recession-proof.
  • Najarian noted a lot of put activity in ASML Holdings (ASML) - Get Report which has him suggesting investors short the stock.

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