If you’re looking ahead, Pete Najarian says look at First Solar [FSLR], Energy Conversion Devices [ENER] or Eastman Chemical[EMN]. "All those companies are well run and could have upside."

Chemical companies have been squeezed this year by dwindling end-market demand. Eastman Chemical recently said fourth-quarter earnings will be well below prior forecasts. Credit Suisse thinks Eastman's pension costs could triple in 2009 to 77 cents a share, though some of that risk might be reflected already in 2009 earnings estimates of $4.05 a share.

Najarian said keep an eye on Alpha Natural Resources (ANR), Consol Energy (CNX), Massey (MEE) Eastman Chemical (EMN) and Sasol (SSL).

Eastman Chemical (EMN) and Sasol (SSL) for “gasification” (a way to turn coal into a liquid that’s burns more cleanly.

3 Stocks I Saw on TV
Dan Fitzpatrick examines three stocks viewed on Fast Money. Today's stocks include SPDR S&P Semiconductor, Wal-Mart and Eastman Chemical.

Click here to watch the video.

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Take a look at chemical stocks such as Dupont (DD), Eastman Chemical (EMN). I think all these companies are buys at certain levels. But if you wait for the recovery it will be much too late to buy these names.

UBS said it is upgrading Eastman Chemical (EMN) to a Buy rating due to inclusion of announced coal-base production initiative.

Coating, plastics and chemical maker Eastman Chemical Co. said Friday its board approved the repurchase of up to $700 million worth of additional stock.

The company plans to continue using cash on hand to pay for dividends and growth projects, and to buy back shares.

The stock trades for 6x cash flow.

EasyStockAlerts.com reports that Eastman Chemical Company said its Board has approved the repurchase of up to $700 million of Eastman common stock, bringing the total of share repurchases authorized in 2007 to $1 billion.

The company said that the $300 million in share repurchases authorized by the Board in February 2007 were completed during the third quarter.