The traders of CNBC’s “Fast Money” have never seen such extreme volatility in the U.S. stock market. They are amazed almost on a daily basis the stock market's wild behavior, and they know that the craziness creates opportunity. Stocks are being driven down to levels that could represent some real value. Some stocks are being beaten up so badly that they now trade below cash value.

The traders know that these market conditions will not remain forever. Savvy hedge funds will return to the market and start buying into stocks that everyone else hates. Value players will begin to dip their toes back into the market. Traders will load up on stocks that will benefit from the current economic crisis. Blood is flowing through the streets of Wall Street and the crew is ready to find the right stocks to make some "fast money” with.

The gang recently highlighted trading ideas that play off the beaten-up commodities market, problems in the credit card market and the auto sector. Here are some highlights from over the past week as aggregated from the show.

Fast Money’s Commodities Plays: When hedge funds come back to the market, where will they go? On Tuesday’s “Fast Money” show, Jon Najarian told viewers: “The line of thinking is that they will put money into assets in the ground such as natural gas, crude oil, silver, gold or whatever. They’ve been sold off so severely that the market is grossly underestimating the value of the commodity.” Fast Money’s Commodities Plays include Silver Wheaton (SLW) and Nexen (NXY).

Fast Money’s Volatility Trades: The last 50 days have been the most violent in stock market history. How do you trade it? On Tuesday’s “Fast Money” show, Pete Najarian told viewers: “It really is a speed market right now. And if you're in this market you better have real time quotes.” Fast Money’s Volatility Trades include Ultra Financials ProShares (UYG).

Fast Money’s Next Credit Crunch: The traders think the next big problem for the markets could be on the credit card front. It’s rumored that the U.S. credit card industry might pull back well over $2 trillion of credit lines over the next 18 months. On Monday’s “Fast Money” show, Karen Finerman told viewers: “I’m short Capital One (COF) for this reason. And I think there’s more bad news to come.” Fast Money’s Next Credit Crunch include American Express (AXP) and MasterCard (MA).

Fast Money’s Auto Trades: The trades see opportunity in playing the auto complex with the Big Three automakers in front of Congress this week. On last Friday’s “Fast Money” show, Jon Najarian told viewers: “"I think this is a great buying opportunity.” Fast Money’s Auto Trades include Ford (F) and Fuel Systems Solutions (FSYS).

Fast Money’s Home Stretch Trades: The traders think the market will remain volatile until the end of the year. On last Wednesday’s “Fast Money” show Jon Najarian told viewers: “There will be shorting opportunities. When the market gets up around 9,400, I think that’s a great opportunity to sell short.” Fast Money’s Home Stretch Trades include Yamana Gold (AUY) and Centex (CTX).

Fast Money’s Trader Radar: In a segment called “Trader Radar,” the crew highlights stocks with unusual volume. On Tuesday’s “Fast Money” show, Dylan Ratigan told viewers: “On the trader radar tonight we’re watching 3M Company (MMM). The maker of the Post-It and Scotch tape was among the most active names on the NYSE Tuesday. Check out Fast Money’s Trader Radar.

Posted on Dec. 3, 2008