NEW YORK ( TheStreet) -- Major U.S. indices finished moderately lower Friday, but were each down roughly 5% during a week that battered the market with disappointing economic data, including larger-than-expected job losses than June. The Dow is seeing its longest losing streak since 2008. Simon Hobbs, sitting in for Melissa Lee, talks strategy with Guy Adami. Adami says he is worried about the market and believes the best way to protect yourself is to get out on the next rally. He says the market is "heading much lower." Rather than run, Steve Grasso suggests buying some suds -- the UltraShort S&P 500 ( SDS) -- if you think the market is going down. Tuesday is "going to be a critical moment in the market; it could be a capitulation moment," says Joe Terranova. After a long weekend ahead, people will have time to reflect on what they hold, and may want to get out, but he is "not buying into the double-dip recession theory." For a breakout of some stocks from a recent "Fast Money" TV show, check out Dan Fitzpatrick's "3 Stocks I Saw on TV."
3 Stocks I Saw on TV
"Did you have the guts to short today?" Hobbs asks. Terranova says no, but Brian Kelly of Kanundrum Capital says he sold some short today. Kelly says the jobs number this morning was terrible: "There is just no reason to be in this market. You want to be short this market, if you are aggressive. If you are not aggressive, you don't have to be in it," he says. Grasso concurs that the market is more likely going down than up. CEOs are just not hiring yet, that's why the markets are going down. Terranova is looking to buy on the capitulation moment he expects on Tuesday. Here's the set-up: "Market opens Tuesday, it is not higher. People reflected this weekend, they say throw in the towel, I'm out. You see a big whoosh, probably below 1,000 in the S&P, and by the end of the day, you're higher." The only place we differ, says Adami, is that I think we are closer to the beginning of this move down than we are toward the end. The strategy now is sell every rally.