Word On The Street The stock market plunged Friday as the Dow has now seen its worst 3-day start since 1932 and the S&P 500 has seen its worst start to the new year since 2000. The Dow finished the day down 256 points and the Nasdaq fell 98 points. Jeff Macke explained that the S&P 500 is right back to the panic lows it made in August and November and it’s now at great risk of breaking those lows. Pete Najarian says the job number shocked him and the Intel Corporation ( INTC ) downgrade was a surprise. He explained how the Intel downgrade crushed names like Apple Inc. ( NASDAQ: AAPL ) , Research In Motion Limited ( RIMM ) and Google Inc. ( NASDAQ: GOOG ) . He thinks this selloff on Apple is a great buying opportunity heading into Macworld. Jon Najarian likes Research In Motion if it holds $100 going into the Consumer Electronics Show. Guy Adami favors Unilever PLC ( UL ) , The Procter & Gamble Company ( PG ) , Altria Group Inc. ( MO ) and Microsoft Corporation ( MSFT ) at the $32 level. Macke mentioned he would be a buyer of the S&P 500 for a trade with a tight stop at 1400. Oil fell 1.3% after hitting a record high of $100.09 on Thursday. Adami says buy Jacobs Engineering Group Inc. ( JEC ) as long as energy prices are high. Jon Najarian mentioned he is still short refiners and Pete Najarian disclosed he is short Valero Energy Corporation ( VLO ) . Utility stocks put in a strong week in the face of a declining market. Adami likes Public Service Enterprise Group Inc. ( PEG ) , but with the stock up 53% he doesn’t see much more upside from current levels. Airlines, auto rental companies and casino stocks all fell this week as the market prices in the possibility of a recession. Macke sees a trading bottom in UAL Corporation ( UAUA ). He would avoid rental car companies which he mentioned are trading like they’re already in a recession. Adami favors AMR Corporation ( AMR ) for a trade off of the high short interest. Financial stocks continue to get battered as investor’s fear the worst is still to come. Pete Najarian explained the investment banks finally cracked Friday after Goldman Sachs Group Inc. ( GS ) fell below $200. He thinks now is the time to buy the put options on the Financial Select Sector SPDR Fund ( XLF ) . Jon Najarian says that The Bear Stearns Companies Inc. ( BSC ) is setting up to drop 20% in one day. WORD ON THE STREET VIDEO TV Drug Trade Prescription drug companies are using TV commercials to promote allergy medications and now even anti-psychotic medications. What is the trade? Pete Najarian likes generic drug maker Teva Pharmaceutical Industries Limited ( TEVA ) and Novartis AG ( NVS ) . Adami favors Organon Pharmaceuticals which was just bought out by Schering-Plough Corporation ( SGP ). Jon Najarian likes WellPoint Inc. ( WLP ) . JPMorgan Healthcare Conference Trade Next week the JPMorgan Healthcare Conference is set to kick off. Every subsector in healthcare will be represented at this conference. What is the trade? CNBC Pharmaceuticals Reporter Mike Huckman joined the “Fast Money” crew to discuss his take on the healthcare sector. Huckman highlighted a few companies that he would keep an eye on going into the conference. His first name to watch was Celgene Corporation ( CELG ) which will present guidance on Monday. Pete Najarian mentioned he likes CELG. Next on the list was Amgen Inc. ( AMGN ) which will present on Tuesday. Huckman says watch for comments from AMGN on their anemia drug franchise. Pete Najarian thinks investors should keep an eye on Millennium Pharmaceuticals Inc. ( MLNM ) which will present on Wednesday. Finally, Adami told viewers to watch Biogen Idec Inc. ( BIIB ) . HEALTHCARE VIDEO CES Trade The 2008 International Consumer Electronics Show (CES) is set to start on January 7 Th in Las Vegas. What is the trade? Pete Najarian explained that the CES isn’t a monster catalyst for the technology sector. He thinks investors should keep an eye on gadget maker Research In Motion Limited ( RIMM ) . Jon Najarian would rather pay attention to Apple Inc. ( NASDAQ: AAPL ) Macworld which happens one week after CES. Adami mentioned that Dell Inc. ( DELL ) is getting attractive at current levels. Jon Najarian noted that he saw lots of call buying on DELL Friday. CES VIDEO Same-Store Sales Trade On Thursday same-store sales will be released. What is the trade? Macke thinks Friday’s poor jobs report could be a leading indicator to bad same-store sales data. He advised investors to watch Costco Wholesale Corporation ( COST ) which will benefit from a soft economy. He also likes The Gap Inc. ( GPS ) for a trade off of low expectations. SAME-STORE VIDEO POPS&DROPS This segment of POPS&DROPS highlights the most extreme stock moves of the week. POPS- Osiris Therapeutics Inc. ( OSIR ) traded up 11% after the biotech company won a $225 million contract. Pete Najarian says this is huge for OSIR. Humana Inc. ( HUM ) traded up 5% after a CIBC analyst made some bullish comments on the health insurer. Adami sees more room to the upside for Humana. DROPS- Valero Energy Corporation ( VLO ) and Tesoro Corporation ( TSO ) both fell more than 8%. Jon Najarian thinks they will keep moving lower. Sallie Mae ( SLM ) fell 15%. Adami thinks it still has more room on the downside. Macy’s Inc. ( M ) fell 12% off of the bearish jobs report. Macke explained that the jobs data caused a parade of sellers in the retail stocks. KLA-Tencor Corporation ( KLAC ) fell 12% after Intel was downgrade Friday. Jon Najarian is looking for KLAC to drop through $60. The Talbots Inc. ( TLB ) fell 19% after the women’s clothing firm said it would shut down its children’s and men’s clothing and cut 5% of its workforce. Macke reminded investors to never buy specialty retailers on the dip. POPS&DROPS VIDEO Fast Fire On December 17 th Adami went negative on Newmont Mining Corporation ( NEM ) . He was dead wrong and Newmont has gone up 12% since his call. Adami thinks if investors want to play gold they should buy streetTRACKS Gold Trust ( GLD ) . On January 2 nd Macke went bullish on retailers and he told investors to buy the Retail HOLDRS Trust ( RTH ) at $90. Since his call the RTH has fallen 3%. Macke admitted the trade was a mistake after the jobs number disappointed. On December 26 th Najarian recommended coal play Alpha Natural Resources Inc. ( ANR ) . He was off the mark on this call and ANR has fallen 12% since he recommended it. Najarian isn’t giving up just yet he is sticking with the coal name. FAST FIRE VIDEO Quicker Than The Ticker On December 17 th Najarian went bullish on Newmont Mining Corporation ( NEM ). He was dead right and the stock has gone up 12% since his call. On January 2 nd Macke recommended shorting Bed Bath & Beyond Inc. ( BBBY ) . He was right on the money and BBBY went down 15% since his call. On December 31 st Adami went positive on Monsanto Company ( MON ) . He nailed the call and MON has ripped up 9% since his call. Final Trade Macke favors The Procter & Gamble Company ( PG ) . Adami likes Johnson & Johnson ( JNJ ) . Jon Najarian recommends shorting iShares Russell 2000 Index ( IWM ) . Pete Najarian prefers The Anderson Inc. ( ANDE ) . FINAL TRADE