NEW YORK ( TheStreet) -- The markets closed lower Thursday with swings that confused traders. The Dow Jones Industrial Average was down 30.72, or 0.29%, to 10,467.16, while the S&P 500 fell 4.60, or 0.42%, to 1,10153. The Nasdaq fell 12.87, or 0.57%, to 2,251.69. Guy Adami said on CNBC's "Fast Money" TV show that investors are getting "bounced around" until the markets make what he believes will be a decisive move, up or down. Steve Grasso said he would stay clear of the market because it's "too confusing right now." For Grasso, the bookends on the S&P are 1,081 and 1,113. He said would sell if the S&P reaches 1,090 or lower and buy if it moves above 1,113. 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
Brian Kelly also acknowledged how extremely difficult the market was and said he tried to stay very small during the day. Karen Finerman said she ventured out to the medical device space. Adami picked up on that point, saying that Becton Dickinson ( BDX) was a historically low multiples and looked interesting. Melissa Lee, the moderator of the show, commented on the see-saw action in the market. Grasso said it was difficult to lay a short position. In the end, he said it was about getting small and being to "turn on a dime." Consumer staples like Colgate Palmolive ( CL) and Kellogg ( K) were hit hard after they failed to deliver on earnings. Finerman said the stocks took a beating after their weak earnings compressed their multiples. Grasso said the downturn of those stocks could spill over to other consumer goods stocks like Procter & Gamble ( PG) . He said he liked the tobacco stocks such as the Altria Group ( MO). Finerman said her preferences were Kraft ( KFT) and Phillip Morris ( PM). Lee brought in Peter Boockvar, equity strategist with Miller Tabak, to discuss comments by James Bullard, president of the Federal Reserve Bank of St. Louis, who warned about the risk of deflation in this country. Boockvar said the comments were scary and not the answer to an economy that is trying to deleverage. He said Fed's policy of "printing more money" and "hoping for the best" wasn't the answer.