How can you use ETFs to protect yourself in a downturn? OptionMonster Jon Najarian suggests using two ETFs as hedges. They are:

For Tech Protection:
> ProShares UltraShort QQQ

For Bank Protection:
> Direxion Daily Financial Bear 

Because both of these securities are inversely related to the sectors, a bet to the downside is made with a long position.

Find out more about these and other ETFs. Watch the video below.

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Trader disclosure: On Jan 15th, 2010, 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 (AGU), (C), (GS), (INTC), (MSFT), (NUE), (BTU); Seymour Owns (AAPL), (AET), (BAC), (INTC), (VIP); Finerman's Firm Is Short (IYR), (MDY), (SPY), (IWM), (USO); Finerman Owns (AAPL); Finerman's Firm Owns (BAC), (BAC) Leaps; Finerman Owns (BAC) Preferred, (BAC); Finerman's Firm And Finerman Own (GOOG); Finerman's Firm Owns (MSFT), (NOK); Finerman's Firm And Finerman Own (WFC) Preferred; Pete Najarian Owns (CELG); Pete Najarian Owns (FCX), Is Short (FCX) Calls; Pete Najarian Owns (HUM) Call Spread; Pete Najarian Owns (MS); Pete Najarian Owns (PFE); Pete Najarian Owns (QCOM) Calls; Pete Najarian Owns (TEVA); Pete Najarian Owns (TXT) Call Spread; Pete Najarian Owns (XLF) Calls

For Brian Stutland
Stutland Owns (IBM) Feb. Calls, Is Short (IBM) Puts
Stutland's Firm Is A VIX Market Maker
Stutland's Firm Is Short Volatility
Stutland Owns (GS) Call Spread
Stutland Owns (GS) Corporate Bond

For Jon Najarian
Jon Najarian Owns (HUM) Calls
Jon Najarian Owns (AET)

For Brian Kelly
Kanundram Capital Is Short EURSD
Kelly Owns (FXE) Puts

For Jon Najarian
Jon Najarian Owned (HUM) Calls Today

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