Trading Wisdom

The Fast Money gang reveals how to trade amid the turmoil and still protect your profits.

Jeff Macke

The discipline to sell is paramount in this tape. You don’t have to buy every dip and there’s a time to get out of certain assets.

Guy Adami

Jefferies has been hiring when the rest of Wall Street is firing. They’re getting back to basics and I think firms that do that will be the ones to survive.

Joe Terranova

I’d like to see the Fed a little more involved in some of the bailouts. AIG is too big to fail because they're so tied to Main Street.

Pete Najarian

Risk premiums in some financials make me nervous. I bought puts in Wachovia because I think they have more trouble coming. Unless you have to be in this market I think the thing to do is scale back.

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Trader disclosure: On Sept 15, 2008, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Macke Owns (WMT), (TTWO), (MSFT); Adami Owns (AGU), (BTU), (C), (GS), (MSFT), (INTC),( NUE); Najarian Owns (AAPL) And (AAPL) Collar; Najarian Owns (AMGN) Call Spread; Najarian Owns (MS) And (MS) Collar; Najarian Owns Owns (NOK) And Is Short (NOK) Call; Najarian Owns (RIMM) Call Spread; Najarian Owns (TSO) Call Spread; Najarian Owns (WB) Puts; Najarian Owns (XLF) And (XLF) Collar; Terranova Owns (NOV), (X), (POT), (FCX), (EOG), (AAPL), (GS), (KOL), (VLO), (SA); Terranova Owns (AIG) Puts And Owns (AIG)

Terranova Is Chief Alternatives Strategist Of Phoenix Investment Partners, Ltd.: Phoenix Investment Partners Owns More Than 1% Of (ABD), (ARE), (BIG), (BRE), (CNTY), (CNW), (CLB), (OFC), (DLM), (DRH), (DLR), (EPR), (ESS), (EXR), (AGM), (FL), (GBL), (GNET), (IGE), (LNET), (MAC), (OIIM), (PSPT), (DBC), (DBV), (SLB), (GWX), (SSYS), (SKT), (UA), (BIV), (VV), (BLV); Phoenix Investment Partners Owns More Than 1% Of Goldman Sachs Financial Square Fund - Money Market Fund; Phoenix Investment Partners Owns More Than 1% Of Seagate Technology Tax Refund Rights

Terranova Is Co-Portfolio Manager Of The Phoenix Diversifier PHOLIO; Phoenix Diversifier PHOLIO Owns (IGE), (DBC), (DBV)

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