Stocks in the U.S were down today as the Dow shed 1.83% to 11,842.69; the S&P 500 lost 1.85%, ending at 1,317.93; and the Nasdaq lost 2.27%, finishing at 2,406.09.



"Fast Money" TV show, traders began by discussing the overall market, saying this was the worst week since mid May. Two billion shares traded hands, and the S&P is down 10% for the year.

Moving ahead, guest host Pete Quintatro stated that earlier in the week the markets focused on global growth, then turned to the tech stocks mid-week, and ended the week on financials.

Pete Najarian said we should have seen this financial train wreck in the market, and all the major news this week is in the financials.

Guy Adami thinks there is no reason yet to jump into the financials and Jeff Macke agrees with him.

Quintatro stated that he first thought the financials looked good this week and put some exposure into them, but the financials were slammed today.

Moving on to oil, Macke stated that everyone is trying to fight the upward trend, thinking it will go down, "but this is the trend to get long and have a tight stop." "It would be nice if we had cheap oil, but it is not going to happen," Macke said.

Najarian said he likes


(CHK) - Get Report




and that we need to focus on this sector.

The group then moved the discussion to gold and Adami said there is nobody left to buy within this market; all the speculation is gone.

Quintatro agreed and said there is no reason to see gold go higher, but once again you can't fight it, you just have to go along with the trend.

Keeping the pace, Ratigan then began to discuss the


(DIS) - Get Report

, ESPN deal about airing more pro-football games.

Najarian said this is a great move for Disney and that this will help carry them higher.

The group then moved forward to discuss



and Macke said it should be disbanded quietly, all of the group agreed with Macke as none of them like the stock.

Ratigan then shifted the discussion to consumer stocks and stated


(WMT) - Get Report

got nothing done this week.

Macke added to the discussion, saying this sector is a "hard place to play right now."

Next, the group discussed

Evergreen Solar

( ESLR) and Najarian loves this name and says this is a profitable industry.

Quintatro loves solar across the board and thinks ESLR is definitely a buy.

Ratigan then shifted gears, moving forward to

Apollo Group


with a segment called "summer school breakout." Ratigan said that when the economy sticks, people go back to education, and Apollo is capitalizing off of this. Ratigan said he also like




The group then moved forward, bringing in Mike Darda to talk about the


meeting on Wednesday. Darda believes the Fed will toughen up inflation language, but they won't hike rates, and this will not move the dollar. The market has already priced in a 50bp move so we shouldn't be scared of higher rates. Discussing gold, Darda said the Fed will still try to talk inflation down, but if they are proven wrong, gold will soar.

Najarian loves

Research in Motion

( RIMM) and stated that the stock ran up $10 this week. He said if it comes back before earnings next week, buy it, "but right now it's ahead of itself."

Macke likes


(ORCL) - Get Report

and said it is a well-run company, but he thinks that since its customer base is financials, the stock does not have a very good outlook.

Adami says that he would not race in ahead of earnings this week.

Adding to the discussion, Najarian stated that the company is international, which should soften the blow and provide a great buying opportunity if it gets hit.

The group then moved on with a discussion of anti-transparency trades that investors could make, zoning in on stocks that have very little transparency within their organization.

Zach Karabell joined the show and stated, "There are tons of companies with no transparency and great growth" within the marketplace. Just because a company does not provide unlimited transparency does not mean it is not a good company.

Karabell stated that

China Mobile

(CHL) - Get Report

is one of those companies, and said "they shuffle the card" all the time, referring to its numerous trades by management and reputation for disclosing very little about what is going on within the company.

Karabell said that many companies are "opaque yet perform." Karabell then discussed


(AAPL) - Get Report

and stated that even though it reports financials, the company overall stays very secretive about the inner workings of the company.

Next, the group moved to a segment called "Fast Fire," recapping stocks the traders previously recommended.

Najarian liked

Titanium Metal


and previously stated the stock was an underperformer but at the level to buy. The stock is now down 13% and Najarian said he will have to pull the plug on this one.

Adami liked

Morgan Stanley

(MS) - Get Report

and now that the stock is down advises investors to stay away.

Macke liked Disney, which is down 5% and stated that even thought it drifted lower, he still likes it, although it has so much piled up against it with this economy. Macke said he hasn't sold it yet.

Quintatro likes


(GLW) - Get Report

and said this is still a great company. Ouintatro is still long, although the stock is down 9%.

This article was written by a staff member of