Stocks fell Monday as crude oil hit a record high of $86 and Citigroup ( C) brought back fears of credit problems. The team at CNBC's "Fast Money" dissected the moves in the market. Citi reported a 57% decline in profits. Karen Finerman wasn't surprised at the report, while Jeff Macke sees no reason to be long the stock. Guy Adami maintains that $45 is still the exit on the stop out for the Citigroup trade. Other financial stocks to keep an eye on are E*Trade ( ETFC) and Knight Capital ( NITE), which Pete Najarian points out are reporting earnings on Wednesday. He believes both could surprise to the upside.
Najarian goes on to remark that the market is starting to digest the fact that oil at $85 is probably not a great thing. He highlighted the strength in Exxon Mobil ( XOM) and Oil Service HOLDRs ( OIH). He also advised investors to keep an eye on coal stocks like Peabody Energy ( BTU) and Massey Energy ( MEE). He suggests that airlines are in big trouble with the current price of oil. Macke concludes that every day is a good day to sell airline stocks.