An important measure of retail sales confirmed Tuesday what many investors had feared; the snowstorm last Saturday stymied shoppers during a crucial period for stores.

According to the International Council of Shopping Centers-Goldman Sachs index, sales rose just 0.6 percent last week.  A week earlier, that figure was up 2.4 percent.

That doesn’t bode well considering the last Saturday before Christmas is usually either the biggest or second-biggest shopping day of the year.

It means retailers must now bet on a spending surge in the final days before Christmas. Should you do the same?

What’s the retail trade?

If you want to play the space do it with names that offer value or compelling products, says Brean Murray analyst Eric Beder. For compelling products I’d look at Guess or J Crew and for value consider Aeropostale. It’s a beaten down name.

And if you’re looking to play True Religion, Beder says the stock doesn’t get the respect it deserves from the Street. But, he adds, that’s going to change.

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Trader disclosure: On December 22nd, 2009, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Adami Owns (INTC), (MSFT), (NUE), (BTU), (AGU), (C), (GS); Pete Najarian Owns (CLF), Is Short (CLF) Calls; Pete Najarian Owns (MS), Is Short (MS) Calls; Pete Najarian Owns (MRVL); Pete Najarian Owns (STX) Calls; Pete Najarian Owns (UUP) Call Spread

For Joe Terranova
Terranova Works For (VRTS)
Terranova Is Chief Market Strategist Of Virtus Investment Partners, Ltd.
Virtus Investment Partners Owns More Than 1% Of (CLB)
Virtus Investment Partners Owns More Than 1% Of  (DLR)
Virtus Investment Partners Owns More Than 1% Of  (EXR)
Virtus Investment Partners Owns More Than 1% Of  (IGE)
Virtus Investment Partners Owns More Than 1% Of (XLY)
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Virtus Investment Partners Owns More Than 1% Of  (UA)

For Jon Najarian
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For Eric Beder
Beder Owns (ANF)
Beder Owns (TGT)
Brean Murray, Carret & Co. Is A Market Maker In (BEBE), (CACH), (TRLG), (WTSLA), (URBN)

For Peter Schiff
Schiff Owns Gold

Add'l Disclosures:
Finerman's Firm Is Short (IJR)
Finerman's Firm Is Short (MDY)
Finerman's Firm Is Short (SPY)
Finerman's Firm Is Short (IWM)
Finerman Owns (AAPL)
Finerman's Firm Owns (BAC) Preferred, (BAC), (BAC) Call Spread
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Finerman's Firm Owns (WMT)
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