Dylan Ratigan hosted CNBC "Fast Money" show Wednesday night. He started the show with a discussion of the three major issues in the market right now: a lack of confidence, hedge funds and investors remaining on the sidelines, and the fundamentals of the economy continuing to deteriorate. He said that when you put all three together, you get a stock market that continues to sell off.

Pete Najarian pointed out that the financials are yet to participate in this market. He says "the volatility index fell too fast, and that's part of the issue right now." Karen Finerman told viewers she was stopped out of a long position in

Google

(GOOG) - Get Report

after the stock broke below $300 per share. She says "Google is an interesting company, but I don't need to fight the tape."

Ratigan moved the conversation to breaking news that shares of

Intel

(INTC) - Get Report

were halted in after-hours trading. The chip company said its fourth-quarter revenue will come at $9 billion, which is below Wall Street expectations. Jeff Macke said things continue to deteriorate and the fundamentals are disastrous. He says, "I can't be confident in this market, and I have never had more cash on hand."

Ratigan switched the discussion to the bank sector. He explained that

Wells Fargo

(WFC) - Get Report

,

JPMorgan

(JPM) - Get Report

,

Morgan Stanley

(MS) - Get Report

,

Citigroup

(C) - Get Report

,

Goldman Sachs Group

(GS) - Get Report

,

Merrill Lynch

(MS) - Get Report

and

Bank of America

(BAC) - Get Report

are all down significantly from the announcement of the TARP plan.

Najarian said "hats off" to Meredith Whitney, managing director at Oppenheimer, for saying that Citigroup could go into the single digits. He says "the one to keep an eye on is

American Express

(AXP) - Get Report

, which is seeing an amazing amount of put options activity."

CNBC's

Jim Goldman joined the traders to discuss the Intel news. He explained that Intel's revenue revision was "substantial." He says "you wonder what other kinds of ripples this could send through the rest of the industry." Goldman mentioned Intel will also reduce its capex spending by $100 million to $2.8 billion. Macke said Intel is behaving like a company that is afraid because nobody is buying anything.

Ratigan brought up the weakness in crude oil and what it might signify about the state of the economy. Finerman said the government would be better off having oil a little bit higher because it's become a full on proxy of fear. She says "I wouldn't take off the oil short trade yet, but the equity side hasn't worked." Najarian said the pullback in natural gas and oil is helping the input costs for someone like

Archer Daniels Midland

(ADM) - Get Report

.

Seymour pointed out that

ConocoPhillips

(COP) - Get Report

is trading as though oil is at $40 per barrel.

Doug Kass, founder and president of Seabreeze Partners Management, joined the traders to discuss where we are in the cycle of deleveraging. Kass said that the outlook for the next three to five years has been jarred and that our social, economic and political future has materially changed. He says "the scope and duration of the meltdown has placed our economy passed the tipping point." He said we're in a very dangerous environment for both shorts and longs now. He explained that around $600 billion of hedge fund capital is in computer-generated program trading. He told viewers to err on the side of "conservatism."

TARP Effect

CNBC's

Steve Liesman joined the "Fast Money" crew to talk about the TARP bailout plan. He explained that the Treasury plans to get involved in the asset-backed market for consumer loans. He says "the

Fed

will have another facility that will buy bundled credit card loans and bundled auto loans." He mentioned that the Fed will also provide private-equity matching funds. Liesman told viewers that the Treasury, FDIC and the Fed issued a joint policy statement that said they expect banks to start lending and get their dividend policies right. Finerman said the banks should dilute their shareholders instead of using the TARP money to recapitalize.

Oil Depression

The crew spoke with Addison Armstrong of Traditional Energy about the weakness in crude oil. Armstrong said it's all gloom and doom in the oil markets right now. He says "there is nothing that is going to stop crude oil from falling, not even OPEC, as long as there is wholesale selling in every other market." He told viewers he likes natural gas at $6. Najarian said he saw enormous amounts of activity in the November options for the

Energy Select Sector SPDR

(XLE) - Get Report

. Armstrong said oil could potentially go to $45 a barrel, and that would cause pain for the integrated oil names.

Trader Radar

Shares of

Scotts Miracle-Gro

(SMG) - Get Report

were among the most active names on the

NYSE

Wednesday.

Final Trade

Macke said he is going to sell the rest of his

ProShares UltraShort S&P 500

(SDS) - Get Report

position. Seymour recommended the

UltraShort MSCI Emerging Markets ProShares

(EEV) - Get Report

. Finerman said she is sticking with her short position in

Capital One Financial

(COF) - Get Report

. Najarian picked Archer Daniels Midland.

This article was written by a staff member of TheStreet.com.