The stock market experienced some wild swings and increased volatility on Monday. The Dow finished the day up 27 points while the Nasdaq fell 5 points. The crew at CNBC's "Fast Money" brought in technical analyst Andrew Burkly to discuss patterns in the market. Plus, interviews with corporate leaders of Garmin and DaVita.Karen Finerman was relieved that the stock market didn't fall off a cliff on Monday. Guy Adami explained that Goldman Sachs was out talking up a recession and that had a lot of investors scared. Jeff Macke wasn't impressed that the market hit the 10% correction point and could barely put together anything meaningful on the upside. He feels this market continues to be sick.
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Isis Pharmaceuticals ( ISIS) soared 47% after the biopharmaceutical company announced a strategic licensing deal for a Lipid-lowering treatment with Genzyme ( GENZ). Najarian remarked that this could be an annual $2 billion drug for ISIS, however he cautioned investors to sell some if they owned it. (Check out this portfolio of healthcare stocks on Stockpickr.com Top Yielding Healthcare Stock.)
Finerman loves Phillip Morris and she agrees with Morgan. Adami also likes Phillip Morris, but he wouldn't short Caterpillar. Macke explained he wouldn't short Best Buy, instead he would just walk away from the stock. He also favors Phillip Morris. Najarian recommends owning Cokes, smokes, drugs and McDonald's.
Drops - Hewlett-Packard ( HPQ) fell 3%. Adami maintains that HPQ is attractive. Crocs ( CROX) fell 14% on reports of slowing business. In Finerman's opinion, the selloff is overdone. Goldman Sachs Group ( GS) fell 3% on no news. Adami still thinks that GS is a buy. NetSuite ( N) fell 12%. Najarian disclosed that he bought some NetSuite on Monday. Solarfun ( SOLF) fell 16% as oil sold off Monday. Finerman warns investor to stay away.