The stock market pulled back off record highs Wednesday after Wall Street analysts forecast negative earnings growth in the first quarter for the S&P 500. The team at

CNBC's

"Fast Money" did a post-mortem on the market.

Tim Seymour of Red Star Asset Management wasn't in bull mode Wednesday. Instead, he sold some steel and aluminum stocks because he is concerned about inflation and retail sales numbers. Jeff Macke maintains that the bears had nothing today and they couldn't break any of the heavily shorted stocks.

Bad news from

Boeing

(BA) - Get Report

and

Honeywell

(HON) - Get Report

helped the bears. The bad news for Boeing was the delayed delivery of the new 787 Dreamliners. Finerman wasn't surprised by the delay, and she isn't worried about it.

DaimlerChrysler

( DAI) was hit with bad news Wednesday. The United Auto Workers are striking at the car maker after the union failed to reach a tentative contract before a union-imposed deadline. Macke doesn't think the strike will impact the auto supply stocks. He favors

Johnson Controls

(JCI) - Get Report

and

American Axle

(AXL) - Get Report

. Seymour recommends

Magna

(MGA) - Get Report

.

Image placeholder title

Me Worried?

Dennis Gartman of

The Gartman Letter

joined the crew to discuss his thoughts on the commodities markets ahead of Bernanke's speech on Friday. Gartman's perception is that the

Federal Reserve

isn't concerned about inflation and will continue to cut rates. He would be a buyer on weakness in gold and sell short the U.S. dollar. He would accomplish this via the

streetTRACKS Gold Trust

(GLD) - Get Report

.

Even if the Fed isn't concerned about inflation, Seymour is. His fear is that the weak dollar will eventually cause inflation. Gartman says until the Treasury Department comes out and defends the dollar that it's a short sale. Lastly, he continues to be bullish on the metal and grain markets.

(Take a look at this gold portfolio on Stockpickr.com:

Gold Miser Fund

.)

Stent Trade

News broke Wednesday night that the FDA advisory panel is backing drug-coated stents made by

Medtronic

(MDT) - Get Report

.

CNBC's

Mike Huckman joined the "Fast Money" crew to discuss the stent developments.

Huckman explained that the advisory panel will require Medtronic to do a huge post-market study that will involve 5,000 people for five years. While this is good news for Medtronic, it's not good for

Boston Scientific

(BSX) - Get Report

and

Johnson & Johnson

(JNJ) - Get Report

.

Huckman recommends investors look at side plays off this news with

SurModics

(SRDX) - Get Report

,

Abbott Labs

(ABT) - Get Report

,

Novartis

(NVS) - Get Report

and

Wyeth

( WYE). Lawsuit risk keeps Najarian from being a fan of the stent market. He would rather be in diagnostics plays like

Myriad Genetics

(MYGN) - Get Report

.

Medical device maker

Zimmer

(ZMH)

saw huge options activity Wednesday in the October $85 and $90 calls. Najarian feels the $90 calls are cheaper and have more upside ahead.

(Check out this portfolio devoted to medical stocks on Stockpickr.com:

Black Rock Health Sciences

.)

Spin the Bottle

Cadbury Schweppes

(CSG)

announced plans to spin off its US beverage unit after falling to find a buyer of the division. Cadbury plans to list the new company on the NYSE. Finerman is skeptical on this but having said that, would buy Cadbury if it were a bit cheaper.

Stocks on the Move

The positive story of the day was the strength in the Nasdaq, and Chinese stocks. Najarian mentioned that

Google

(GOOG) - Get Report

might be close to releasing a Gphone and in his opinion, the stock is heading to $700.

Costco

(COST) - Get Report

traded higher after reporting strong earnings and same-store sales. Macke thinks too many shorts are leaning against the retailers.

GAP

(GPS) - Get Report

is a name to get long and he likes

Children's Place

(PLCE) - Get Report

for a trade.

Finerman expects numbers to be bad for retailers, but she doesn't believe the stocks will go down. She mentioned some big insider buying at

American Eagle

(AEO) - Get Report

. Najarian suggests that the best trade in the retail space is

Kohl's

(KSS) - Get Report

.

Oil continues to trade higher, moving over $81 on Wednesday. Seymour says fundamentally nothing has changed for the oil names. He advises investors look at

ConocoPhillips

(COP) - Get Report

. Finerman disagrees and comments that she has been selling some of the ConocoPhillips position in her hedge fund.

Printer Play?

Rumors are swirling around Wall Street that

Dell

(DELL) - Get Report

might be in takeover talks with

Lexmark

(LXK)

. Najarian points out that the options activity in Lexmark is very active with buying in the October, November and January call options. He finds the November calls to be the most profitable.

Pops & Drops

Pops --

Nokia

(NOK) - Get Report

traded up 1%. Najarian declares this stock is going to go higher.

Akamai

(AKAM) - Get Report

traded up 4% after being upgraded. Macke tells investors to look elsewhere.

Google

(GOOG) - Get Report

traded up 2%. Seymour claims the beat goes on with Google.

Drops --

Alcoa

(AA) - Get Report

fell 3% after earnings disappointed. Seymour says higher energy prices are hurting Alcoa.

PetSmart

(PETM)

fell 4% after lowering profit forecasts. Macke advises buying this stock under $30.

Turkcell

(TKC) - Get Report

dropped 5%. Seymour remarks that Turkey's government is hurting business for this cellular play.

I-Robot

(IRBT) - Get Report

fell 8% after reporting a loss. Anything with a vacuum doesn't interest Finerman enough to get on board.

TempurPedic International

(TPX) - Get Report

fell 7% after bearish analyst comments. Macke wants investors to get out of the mattress business.

Final Trade

The crew gave their last and final trade for the show.

  • Jon Najarian makes it known that Google (GOOG) - Get Report is going to trade to $700 before the end of the year.
  • Pete Najarian favors ValueClick (VCLK) .
  • Seymour likes ConocoPhillips (COP) - Get Report for its European exposure.
  • Finerman recommends Tyco Electronics (TEL) - Get Report.
  • Macke wants Merck (MRK) - Get Report.

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