Hello from the NASDAQ market site where I’m back on the two-a-day train for Fast Money during the Olympics. After a refreshing three-day weekend, “that smell” you’re grimacing at is more likely to be the financials going up in smoke (again) as opposed to me burning out.

Here’s what I’m watching while I still have a shine on my shoes and a melody in my heart:
 

  • Is everyone on Earth watching Goldman Sachs (GS) toy with the $160 level? I’ve gotten an earful of it today and, truthfully, I think $160 has roughly zero chance of holding a sustained attack. $150, on the other hand, would start making me interested.

  • Potash (POT) was added to Citigroup’s (C) “Top Picks Live” list. Keep an eye on the name as it continues to try to rebuild. For what it’s worth, I have absolutely no ax to grind. The reason I keep bringing the POT, Crude and Coal names up is simply this: every time I do, I get met with a wall of abuse and emotion. In my experience, that kind of passion seldom ends well. Regardless, watch POT into the close. If an upgrade can’t get it green, even on a down day, be concerned.

  • Freddie Mac (FRE) and Fannie Mae (FNM) down 20% on a slew of “bad news” which could have been more or less sussed out weeks ago. Something to mull the next time you think something, anything, “can’t get cheaper.”

  • Names I continue to watch though I’m not sure why: the casino space. Las Vegas Sands (LVS), MGM Mirage (MGM) et al at this point are trading of a levered up stew of: oil, “the consumer,” the airlines and the dollar. This game’s hard enough even when you can narrow your catalysts down to the knowable.

  • Names which keep getting cheaper: the exchanges. Peep the CME, down huge despite what seems to be a victory at the negotiating table in the Nymex (NMX) merger. NASDAQ (NDAQ) and the NYSE (NYX) taking their beatings as well.

  • What do I like on a day such as this? I like makin’ lists of things to buy, checking them twice and doing whatever I have to do to keep myself from buying stocks based on abstract catalysts. And Batman. I really liked the new Batman. Beyond that it seems like an outstanding day to take it real easy.