By Roberto PedoneWINDERMERE, Fla. ( Stockpickr) -- The traders of CNBC's "Fast Money" think a bear market could be creeping into the picture after the S&P 500 hit an eight-month low. The crew is also concerned about a close on the S&P below the key technical level of 1040. On Wednesday's "Halftime Report" segment, Steve Grasso said traders on the floor are still extremely negative. He mentioned that Tuesday was the first time this year that the market closed below 1050, which is bearish action. Grasso advised viewers to sell into any strength. Joe Terranova told viewers that he's watching the 1025 level on the S&P. He thinks a drop below that critical level means the chart looks broken. Terranova said it will be very difficult for the market to establish any trend for the next quarter. Brian Kelly said he's bearish on the market and he'd use any rally as an opportunity to take profits. Patty Edwards said she doesn't like the market either. However, she said, despite her negative outlook, you can still find opportunities if you pick and choose. The "Fast Money" crew has recently highlighted trading ideas that play off oversold tech stocks, personal health trend stocks and stocks with unusual options activity. Here are some highlights from over the past week as aggregated from the show. Fast Money's Opportunities in a Terrible Tape: Despite the negative market action, the traders are finding opportunities in sectors such as natural gasand gold. On Tuesday's "Halftime Report" segment, Cater Worth told viewers: "What's working are the Gold miners. The Market Vectors Gold Miners ETF ( GDX) is toying with well-defined tops, and the presumption is that it exceeds those tops and breaks out." The Fast Money's Opportunities in a Terrible Tape portfolio includes Corning ( GLW) and Berkshire Hathaway ( BRK.B). Fast Money's Tech Pullback Opportunities: The traders see opportunity in tech stocks such as Yahoo! ( YHOO) and Apple ( AAPL) after the sector shed 4% in just one day. On Tuesday's "Fast Money" show, Piper Jaffary analyst Gene Munster told viewers: "I'd also look at Baidu ( BIDU) despite the high valuation. China is one of the fastest-growing advertising markets in the world, and Baidu has a very strong big brother in Beijing." The Fast Money's Tech Pullback Opportunities portfolio includes Research In Motion ( RIMM) and Akamai Technologies ( AKAM).
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