3 trades to watch as stock pain continues

3 safe trades in today's market
3 safe trades in today's market   

After another day of stock market pain, "Fast Money" traders looked for places to hide.

U.S. stocks dipped Friday, with the technology taking a particularly big hit. The three major averages have now fallen at least 7 percent each this year.

Amid those difficulties, though, some more defensive assets have received a boost. The price of gold futures, for instance, has ticked higher amid a flight to safety.

"There is certainly some panic out there in the street, and gold and silver is the place to be," said trader Brian Kelly.

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He touted the SPDR Gold Trust and iShares Silver Trust, which have climbed nearly 11 and 9 percent this year, respectively.

Trader David Seaburg believes stocks will recover before the end of the year. He expects a flat finish to the year for the S&P 500, which was down about 8 percent for the year at Friday's close.

But he would look to buy shares of biotech company Gilead Sciences on weakness. The stock has shed more than 15 percent of its value this year amid broad selling and criticism of high drug prices.

Earlier this week, Gilead posted fourth-quarter earnings and revenue that topped expectations. It also announced a $12 billion share buyback and a 10 percent quarterly dividend increase.

Disclosures:

Guy Adami

Guy Adami is long CELG, EXAS, GDX, INTC, Guy Adami's wife, Linda Snow, works at Merck.

David Seaburg

Opinions expressed by David Seaburg are solely his own and do not reflect the views and opinions of Cowen Group, Inc.

Steve Grasso

Steve is Long AAPL, AEO, BA, BAC, CC, DD, DIS, DECK, EVGN, KBH, MJNA, MU, OLN, PFE, PHM, T, TWTR, GDX firm is long CXO, OXY, BP, CVX, RIG, AMZN kids own EFA, EFG, EWJ, IJR, SPY

Brian Kelly

Brian Kelly is long BBRY, Bitcoin, GLD, SLV, TLT, US Dollar; he is short Aussie Dollar, British Pound, CS, DB, EWH, Hong Kong Dollar, UBS, SPY, Yuan.