The markets were flat Monday as traders waited for word from Washington on details of the bank rescue plan.

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The

Dow Jones Industrial Average

fell 9.72, or 0.12%, to 8,270.87, while the

S&P 500

added 1.29, or 0.15%, to 869.89. The

Nasdaq

lost 0.15, or 0.01%, to 1,591.56.

Jeff Macke said on

CNBC

's "Fast Money" TV show that he doubts whatever Treasury Secretary Timothy Geithner says about the plan will make much of a difference. "It's going to take time to fix this no matter what they come up with. Let's stop pretending there's this magic plan," he said.

Karen Finerman said the plan's best feature is that it will be "comprehensive" and offer some stability to a nervous market. "We'll stop seeing ad hoc injections to the capital structure (of banks). It's much better for the market," she said.

Dylan Ratigan, the moderator of the show, asked Steve Liesman, the senior economics reporter for CNBC, for an update on what to expect from Geithner on Tuesday. Leisman said the plan will bring clarity, something the market has to cheer about.

Liesman expects Geithner to announce a bad bank that would buy up to $500 billion in assets and the expansion of the TALF program to handle newly issued commercial mortgage banked securities and private level mortgage backed securities. He said Geithner is also expected to talk about foreclosure mitigation plans and expanded asset insurance.

Liesman said nobody's going to be happy about the plan, and if that's the case, maybe they have the right plan.

Barry Ritholtz, CEO of Fusion IQ, expressed his concerns about Washington's approach to the financial crisis. He said he's concerned that the Treasury and

Federal Reserve

are devoting most of their time trying to save the banks instead of the financial system. He said the banks need to take writedowns for their losses under the threat of nationalization, or put their bad assets in a separate vehicle.

He's also worried about private equity benefiting from all the upside from helping purchase toxic assets while leaving Uncle Sam and taxpayers with the losses.

Ratigan shifted the discussion to the trades and sectors worked in today's market. Ratigan said it was strange to see the

Materials Select Sector SPDR

(XLB) - Get Report

and

Energy Select Sector

(XLE) - Get Report

up and

United States Oil

(USO) - Get Report

down.

Tim Seymour said the dichotomy shows that materials like copper and iron ore are up while the jury is still out on whether OPEC can control oil production, and whether there is real demand for oil. He personally believes in going long on oil.

Najarian noted that the impact of rising copper prices on

Freeport McMoRan

(FCX) - Get Report

, which has jumped 35% in the past two and a half weeks. Still, he said the stock struggles each time to get over $30, a signal, he says, that there are stocks like Freeport that are finding support levels at certain prices but also serious resistance.

Ratigan asked Finerman to comment on the pullback by

Boston Properties

(BXP) - Get Report

from a big highrise project in New York City. She said it doesn't speak well for commercial real estate, especially in New York City.

Ratigan brought in Joe Terranova to discuss the most sustainable sectors in today's market. Terranova said he liked the underlying themes of health care and technology, especially the performance of

Apple

(AAPL) - Get Report

,

Google

(GOOG) - Get Report

and

IBM

(IBM) - Get Report

.

Terranova said the three tech stocks have enjoyed favorable market responses to their innovative technologies.

Ratigan asked Finerman to name some safe dividend plays. She mentioned

Diageo

(DEO) - Get Report

, which she said has a good balance sheet, great cash flow, great brands and a 5.3% yield.

She also liked

Phillip Morris

(PM) - Get Report

for its 6% yield. But she expressed concerns about the

New York Times

(NYT) - Get Report

whose debt problems may lead it cut or eliminate its dividend later this month.

Ratigan brought on Mark Mahaney, a Citigroup Internet analyst to talk about trades in the digital delivery space. Mahaney said he doesn't expect the newly released Kindle 2.0 by

Amazon.com

(AMZN) - Get Report

to help the stock much in the next couple of quarters because much of the news had been anticipated.

He said the Kindle is a good hedge for Amazon.com for its portfolio of physical products such as books, CDs and DVDs.

He sees

Netflix

(NFLX) - Get Report

as one of the top ways to play the digital delivery space in the next three to five years.

And he likes

Akamai Tech

(AKAM) - Get Report

,

Priceline.com

(PCLN)

, and Google.

In the final trades, Macke was for taking profits in Apple and

Morgan Stanley

(MS) - Get Report

. Seymour liked

Baidu

(BIDU) - Get Report

. Finerman liked

Genentech

( DNA). And Najarian liked Akamai Tech.

"Check out

"'Fast Money'Portfolios of the Week" on Stockpickr every Thursday.