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Recap of CNBC's Fast Money, Tuesday September 2.

Working Stock Stories - Johnson & Johnson (NYSE:JNJ), Church & Dwight (NYSE:CHD)

Erin Burnett hosted Monday night. She started the show by asking if today's market action is a bearish signal, or is the big money still at the beach? Oil plunged as Gustav passed. The market started up 200 points but ended down as oil sang by $6 a barrel. Guy Adami said the move in the stock market this morning was an “oil move.” However, he pointed out that traders reassessed the situation and figured out that oil was down because the global economy is slowing. He mentioned that some stock stories continue to work, such as Johnson & Johnson and Church & Dwight, which hit 52-week highs today. Jeff Macke stated that one trade that has worked all year when the market opens strong is to sell. He says we're in a bear market. And know your entry and exit points, add Pete Najarian. That’s very important in this environment. “The game has changed for the dollar and since the game has changed for the dollar it has changed for the commodity markets … all of them,” says strategic investor Dennis Gartman.

The Best Stock Today - General Motors (NYSE:GM)

Burnett said the best stock in the Dow today was General Motors. I can’t imagine how it gets worse for General Motors, says Jeff Macke. I would not get short GM. He said the stock works for a trade here, and you can't be short the name. Najarian pointed out that the “GM trade” has worked because oil prices have been falling.

Housing High - Toll Brothers (NYSE:TOL), Mohawk Industries (NYSE:MHK), Home Depot (NYSE:HD), MDC (NYSE:MDC), Centex (CTX)

The Chart of the Day was Toll Brothers, which hit a new 52-week high. Finerman said that people believe that the housing market has bottomed. She indicated she is skeptical that the bottom is really here, but it's possible. If you must play the space, look at MDC or Centex because they have strong balance sheets. Finerman pointed out that housing play Mohawk Industries was up big today and held on to its gains. Adami said Home Depot  was up big today and the stock continues to outperform. He advised viewers to buy it on dips.

Financial Talk - Lehman Brothers (LEH), Charles Schwab (NYSE:SCHW), Ameritrade (NYSE:AMTD)

Adami said he is not convinced that Lehman will get bought out for a premium. He said the high-risk trade here is to be short Lehman. Najarian said that in the financial sector the names that continue to impress are Charles Schwab and Ameritrade.

Tech Sector - Apple (NASDAQ:AAPL), Google (NASDAQ:GOOG), Microsoft (NASDAQ:MSFT), Advanced Micro Devices (NASDAQ:AMD), Lexmark (NYSE:LXK)

The traders discussed the technology sector. Finerman said she bought some call options on Apple today. She says the stock is a great “back-to-school” trade. Macke questioned whether Google is losing its focus with the release of the new operating system Chrome. Google is making a major attempt to chip away at the extreme dominance of Internet Explorer. Najarian said that Google is going for the jugular of Microsoft with the new browser. Adami said he likes Advanced Micro Devices for a tech trade. He said the stock has a huge short interest and could go to a 7-handle. Najarian highlighted some unusual options activity in the September $40 calls on Lexmark. He said the trading action had no institutional size, so he believes it's just some small retail traders who are speculating on a buyout. Macke joked that the short-sellers have been printing money on Lexmark.

Up in the Air - Boeing's (NYSE:BA)

Burnett brought up the deadline for Boeing's machinists. They vote Tuesday on whether to go on strike over job security and medical benefits. Finerman says that a deal will happen and that the stock will go up a couple of bucks. It could really throw a wrench into the Dreamliner plans, says Karen Finerman. I’m hoping they reach an agreement. I think they will go on strike, counters Guy Adami. Or at least not accept Boeing’s latest offer.

The Dollar Play

Strategic investor Dennis Gartman, author of The Gartman Letter, joined the traders to discuss the commodities market following the big drop in oil today. Gartman explained that the plunge in oil is directly due to the strength in the dollar. He said the dollar went through $1.46 against the euro last night and that drove all commodities lower. Adami said that the dollar will continue to show strength in the second half of the year. Gartman said the gold market looks awful here. He pointed to the lack of strength in gold in the face of news such as the Russian/Georgian conflict that should have sent the commodity higher.

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Source: GM Best Stock Today - Fast Money Recap (9/2/08)