The stock market came back to life on Tuesday after investors responded positively to the Fed October minutes. The Dow closed up 51 points and the S&P 500 finished up 6 points. The crew at CNBC's "Fast Money" reviews the days events, as well as what the upcoming Thanksgiving holiday has in store for some sectors.

Pete Najarian had another great trading day and he now believes we're starting to find a smoothing bottom in the markets. The key for Najarian was how volatility never spiked as the financials fell. Jeff Macke thinks the price action on Tuesday could be signaling a near term bottom.

Oil Gobbling up Money

Image placeholder title

Crude oil is closing in on $100 as we near Thanksgiving. John Kilduff, an analyst at MF Global, joined the "Fast Money" crew to discuss his take on oil. Kilduff thinks that oil will trade to $100 in the next few days because of lack of liquidity in the markets. He predicts the top on crude could be in area of $108 to $110. Macke explained that crude at $100 is just a headline, but once it starts to show up at the gas pump we could have some serious problems for the consumer.

Adami maintains that oil will trade to $100 because traders want to see what the reaction to that price level will be. He favors

Chevron

(CVX) - Get Report

, which he feels is cheaper then

ExxonMobil

(XOM) - Get Report

. Najarian says oil is going much higher then $100. Adami advises looking at refiners like

Tesoro

(TSO)

here. Finerman owns Tesoro and she is also looking at buying

ConocoPhillips

(COP) - Get Report

.

Travel Trade

Regional airlines are benefiting from the delays and congestion at larger airports.

CNBC's

Phil LeBeau remarks that consumers are sick of flying into congested airports. The new trend is for consumers to fly into secondary airports to avoid the hassle. LeBeau mentioned that airlines like

Midwest

( MEH) and

Allegiant

(ALGT) - Get Report

are benefiting from this trend.

Adami counters that the way to play this trend is to buy the private jet makers like

Textron

(TXT) - Get Report

,

General Dynamics

(GD) - Get Report

,

Embrear

(ERJ) - Get Report

and

Honeywell

(HON) - Get Report

.

(To get a look at one manager's portfolio of airline stocks, go to Stockpickr.com

Airline Stocks

.)

Defensive Moves

The "Fast Money" crew gave out the best defensive stocks to play when the market is experiencing extreme volatility. Najarian likes

Merck

(MRK) - Get Report

,

Genentech

( DNA) and

Biogen

(BIIB) - Get Report

. However, Finerman would get defensive with names like

Altria

( KFT) and

Kraft

( KFT). Adami also recommends Altria,

Unilever

(UL) - Get Report

and

Procter & Gamble

(PG) - Get Report

. Macke says to play volatility simply sell the pops and buy the drops.

Word on the Street

Target

(TGT) - Get Report

surprises the market after reporting a 4.4% fall in profits. Finerman would like to own Target at some point, but Macke wouldn't play Target one way or the other.

Whole Foods Market

( WFMI) reported a decline in fourth-quarter profits, but sales top Wall Street estimates. Macke warns that Whole Foods Market is fighting an uphill battle and the company could see some tough competition from competitor

Tesco

(TESO)

. Najarian thinks Whole Foods Market will pop after the company announced an increase in their dividend.

Google

(GOOG) - Get Report

trades up 4% after Credit Suisse raised their price target to $900. Najarian believes names like

Research In Motion

( RIMM), Google and

Apple

(AAPL) - Get Report

are starting to show strength again. He would look to get back into these stocks around these levels. Adami prefers

Microsoft

(MSFT) - Get Report

and he thinks the stock is heading to the $40s by next year. Macke also likes Microsoft and Finerman owns Microsoft in her hedge fund.

Scientists made a breakthrough discovery Tuesday after they found a way to create embryonic stem cells without having to make or destroy embryos. Najarian says it's too early to trade this headline, but he would keep an eye on

ISIS Pharmaceuticals

(ISIS)

and

Sangamo Biosciences

(SGMO) - Get Report

.

Pops & Drops

Pops -

Barnes & Noble

(BKS) - Get Report

traded up 13% after reporting higher internet sales. Macke would take the opportunity to sell the pop on BKS.

Exxon

(XOM) - Get Report

traded up 4% after UBS upgraded the stock. Adami prefers

Chevron

(CVX) - Get Report

.

Kraft

( KFT) traded up 2%. Finerman doesn't know why it was popping and she feels something might be up.

Utilities EFT

(XLU) - Get Report

traded up 1%. Najarian predicts it will be up again Wednesday.

Drops -

Office Depot

(ODP) - Get Report

fell 7% after reporting a 9% decline in profits. Finerman would stay away even though the stock is getting cheap on valuation.

Echostar

(DISH) - Get Report

fell 7% as speculation of a takeover on Monday brought out profit taking on Tuesday. Macke suggests buying it at $40.

Ericsson

(ERIC) - Get Report

fell 12% after the company issued weaker guidance for the fourth-quarter. Adami would rather buy

Nokia

(NOK) - Get Report

.

Hovnanian

(HOV) - Get Report

fell 9%. Even at these prices, Finerman still wouldn't be long HOV.

GameStop

(GME) - Get Report

fell 4% after the video game maker missed analyst estimates. Macke recommends buying the dips.

Saks

(SKS)

fell 2% after missing estimates. Adami mentioned there's M&A talk about Saks.

Final Trade

The team lays their best trade ideas out for consumption.

  • Macke likes the price action in Microsoft (MSFT) - Get Report.
  • Adami recommends Freeport McMorRan (FCX) - Get Report.
  • Finerman advises investors to short commercial real estate with the iShares Dow Jones US Real Estate ETF (IYR) - Get Report.
  • Najarian would purchase Pulte Homes (PHM) - Get Report for a short term buy.

Stockpickr is a wholly owned subsidiary of TheStreet.com.