The stock market exploded higher on Tuesday with the Dow putting in its second biggest gain for the year and the Nasdaq had its best day since 2003. The team at CNBC's "Fast Money" discussed the volatility the market has experienced, along with technology stocks and the financial sector.

Pete Najarian predicts investors have at least one more week of this crazy volatility. His approach was to buy puts on the

Financial Select Sector SPDR Fund

(XLF) - Get Report

Tuesday. In Jeff Macke's opinion, the smart trade is to get in front of the volatility and he recommended selling stocks as we approach 1490 on the S&P 500.

Fickle Market

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Was Tuesday a dead cat bounce in the markets? A dead cat bounce is a temporary recovery in a bear market. The Volatility Index or VIX took a dive as the market exploded higher. Finerman has always focused on the Volatility Index, when volatility collapses she sells her puts. Finerman recommends setting price limits to avoid letting your emotions takeover your trading behavior. Macke explained that one thing that separates the folks at home from the professional traders is that the pros know how to go against their gut instinct. It's time to sell stocks on days like Tuesday.

Najarian remarks that the real art form is not trying to pick the top or bottom. Adami suggests that the best buy here is

Unilever

(UL) - Get Report

, which is a defensive name that went up on a big up day. The price action for Unilever on Tuesday was bullish.

(A portfolio can be designed to work in volatile markets, like this one on Stockpickr.com

SEI Managed Volatility Fund

.)

Technology Talks

CNBC

Silicon Valley Bureau Chief Jim Goldman joined the "Fast Money" crew to discuss his take on technology stocks. Goldman feels that technology stocks are oversold and he points to the action in

Google

(GOOG) - Get Report

on Tuesday as evidence. Goldman explained that Google had bad news out of Europe on the pending purchase of DoubleClick and the stock went up. He also pointed out the action in

VMware

(VMW) - Get Report

which went up even though

Oracle

(ORCL) - Get Report

announced plans to enter the virtualization software market.

Adami agrees that

Cisco Systems

(CSCO) - Get Report

is oversold and it's a buy above $29. Macke advises if investors are looking for buys in technology, then Cisco Systems and

Microsoft

(MSFT) - Get Report

are good choices. Goldman says if

Apple

(AAPL) - Get Report

gets itself into China with the iPhone, it will be huge. Goldman was also surprised that

Research In Motion

(RIMM)

didn't go down on Tuesday with the news of Apple moving into China. The Chinese market will be explosive for Research In Motion, according to Najarian.

All Financials Aren't Equal

Goldman Sachs

(GS) - Get Report

leads the stock market rally after CEO Lloyd Blankfein declared there would be no major write downs for Goldman. Adami remarks that traders should have listened to Blankfein the first time he said it. Finerman is long Goldman Sachs and short

Lehman Brothers

(LEH)

. For Macke, Goldman is the New York Stock Exchange.

CEO of

E*TRADE

(ETFC) - Get Report

pulled out of a Merrill conference for Wednesday and the market is swirling with speculation that the company will be bought out. Najarian noted that 100,000 options of which 95% were calls traded hands for ETFC Tuesday. Adami, Macke, and Najarian all added that they don't believe the bottom has been hit for the financials.

Word on the Street

Wal-Mart

(WMT) - Get Report

trades up 6% helping lift retail stocks after reporting strong profits. It pleased Finerman to see the market reaction to Wal-Mart's earnings. Macke thinks Wal-Mart needs to do more then just control costs and should return to being a great merchant.

Crude oil continues to cool off after hitting a 2-week low on Tuesday closing at $91.17. Adami gave praise to Dennis Gartman for predicting the down move in oil. He also mentioned that in weak tape for oil stocks,

Tesoro

(TSO)

was up big.

iShares MSCI Brazil Index

(EWZ) - Get Report

was on fire Tuesday trading up 9%. Adami reminds viewers that Goldman Sachs came out and said it's time to take profits in emerging markets and Goldman seems to be the smartest guys in the room.

Happy 52-Week High

Peet's Coffee & Tea

(PEET)

Pops & Drops

Pops -

Sirius Satellite Radio

(SIRI) - Get Report

traded up 6% after both Sirius and

XM Satellite Radio Holdings

(XMSR)

shareholders voted to approve their merger. Macke thinks the bottom is set on SIRI.

Clearwire

(CLWR)

traded up 8% rebounding from a rough prior week. Najarian suggests the rise was due to call buying going on Tuesday.

Vodafone

(VOD) - Get Report

traded up 9% after raising its sales and profit forecasts. Adami believes VOD is still cheap.

Crocs

(CROX) - Get Report

traded up 10% off a bullish note from a JPMorgan analyst that came out Monday. The research report helped the stock rebound. Finerman thinks Crocs still has the potential to go higher and she is long the options.

Autodesk

(ADSK) - Get Report

traded up 7% off a Goldman Sachs upgrade. Najarian tell viewers that the software stocks are starting to comeback.

Fossil

(FOSL) - Get Report

traded up 17% after reporting a 41% jump in profits and raising their full-year outlook. Macke agrees with the market and sees that FOSL is on fire.

Drops -

Cinemark

(CNK) - Get Report

fell 2% after reporting a net loss for the third-quarter. Finerman comments that Tuesday was the day to miss earnings, as it would go unnoticed..

Face2Face

Viewers send in questions they would like to have answered.

Clarence from Virginia writes," Why on earth on such an explosive day as Tuesday were the utilities down?" Adami explained to Virginia that the utilities are defensive names and the Fed showed its hand and might not cut rates in December. Having said that, Adami recommends buying

Public Service Enterprise Group

(PEG) - Get Report

at $87-$88.

Ray from California wants to know, "If tech was oversold before Tuesday, and may not be after the rally, will stocks such as

Apple

(AAPL) - Get Report

,

Google

(GOOG) - Get Report

and

VMware

(VMW) - Get Report

retest their lows?" Macke says it depends on your time frame on these stocks and he doesn't think the low levels they've put in is sustainable..

Final Trade

Before signing off, the team gives their best trade ideas.

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