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) -- The markets fell Wednesday after the


left rates unchanged.

The Dow Jones Industrial Average

fell 80.34, or 0.66%, to 12,109.67. The

S&P 500

dropped 8.38, or 0.65%, to 1287.14. The


lost 18.07, or 0.67%, to 2669.19.

Guy Adami said on


's "Fast Money" TV show that Fed Chairman Ben Bernanke said all he could say in his comments today, when he indicated growth will be slower than expected and inflation will pick up slightly. He noted a selling opportunity in the market and said the next two days will be critical and set the tone for the markets for the next few months.

Adami said the market can either head down after the S&P hits 1270 or move higher if it hits 1300.

For a breakout of some stocks from a recent "Fast Money" TV show, check out Dan Fitzpatrick's "3 Stocks I Saw on TV."

3 Stocks I Saw on TV

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Tim Seymour said the market will probably head downward. He said the market reacted to Bernanke's comments about a weaker-than-expected economy, the removal of QE3 from consideration and low rates for an extended period.

On the other hand,



provided a strong global outlook, he said.

Karen Finerman said Greece and corporate profits will dictate where the market is headed. She said she is long in the stocks she wants to be in and is buying protection while it's cheap.

Brian Kelly said an argument could be made that the second half will be better based on the rise in Brent crude and base metals. He said there will be demand for commodities in the emerging markets, especially China. He also said stocks will benefit from extended low rates.

Gary Schilling, president of Shilling & Co., said he is worried about deflation in the latter part of the year. He predicted further market weakness and a considerable selloff due in some part to a hard landing in China. Terranova, though, said the evidence is not there to suggest a hard landing in China.

Melissa Lee, the moderator of the show, said the dollar gained momentum and moved above its 50-day moving average. Seymour said that although the Fed sees a choppy labor market and continued problems in the housing market, the industrial side in the U.S. and overseas looks good.

Lee noted that commodities move higher today, oil in particular. Terranova said the trade remains in the refiners as Brent crude moves higher. Seymour said copper was holding well at the bottom of its price range and recommended getting into the producers. Seymour also liked the ag space, while Adami said

Silver Wheaton


was worth taking a look.

Dan Greenhaus, BTIG's chief global strategist, said he sees the trade shifting from the defensive names to the cyclicals in the next couple of months in areas such as the industrials, materials and energy.

Greenhaus agreed with the panel that the auto sector will perform well. He also said commodities will be moving higher.

Lee noted that corn and wheat prices usually go down after a speech from Bernanke. Kelly said the relationship is purely coincidental. Kelly said it will be good buying opportunity for corn in a couple of weeks, with improving weather conditions in the Midwest and the removal of the ethanol tax credit.

Seymour said he was interested in






, while Terranova reiterated a previous pick,

Darling International


, a maker of corn substitutes.

From the volatility playbook, Jon Najarian offered an ETF that is a little less volatile the VIX ETF. It's called the

ProShares VIX Short-Term Futures


, which is linked to the weighted average of the S&P futures index. He said the VIXY is about 20% to 50% as volatile as the VIX ETF.

Lee commented on a news report that


is offering 5,000 jobs to Texas in exchange for a moratorium on the collection of sales taxes from its customers in the state over the next four and a half years.

David Strasser, managing director for Janney Montgomery Scott, said the online retailer is going to great lengths by going state by state to avoid collecting the sale taxes on items it sells.

For the hedge fund pick of week, Anthony Scaramucci, of Skybridge Capital, chose

Best Buy


. He said it generates a tremendous amount of cash, provides a consistent return on invested capital of more than 20% , is repurchasing $5 billion worth of shares and sports a 1.9% dividend yield.

He said his research team surveyed a number of items that Best Buy and its competitors sold and found it offered the lowest prices. He said management has been ahead of the competitive pressures from online vendors like



In the trading the globe segment, Kelly offered two little known facts as to why he believes China's economy is reaccelerating. He said China two weeks ago took off bad loans from banks to the tune of 1.5 times TARP, and it is allowing local governments to issue muni bonds.

In the final trades, Kelly liked Freeport McMoRan. Seymour liked

iShares MSCI Emerging Market Index


. Adami liked

J.M. Smucker


. Finerman advised buying volatility puts if the VIX falls below 17.5. And Terranova said to scale into



over the next four weeks.

--Written by David Tong in San Francisco.

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