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Pros: Shop Retail but Don't Buy Retail on Black Friday

With Black Friday and the official kickoff to the holiday season fast approaching, the “Fast Money” pros had their eyes on retail. And they think you should stay away.

In fact, the team’s resident retail expert, trader Patty Edwards, has actually turned a little bearish on the space.

“I’ve been staying out of the retailers because I think this is a zero sum game,” she said. “Everybody is going to be trying to take everybody else’s lunch.”

Many big names are opening their doors earlier than usual for Black Friday—in some cases at 9 or 10 p.m. on Thanksgiving. But Edwards doesn’t think the earlier hours will necessarily boost sales.

“I think the people who would have shopped at 3 or 4 in the morning are probably not the ones who are going to go out at 10," she said, "but I don’t think you are going to get both groups.”

The only name Edwards thinks may do well is Target , since in this economy people what quality things at accessible prices.

Trader Steve Cortes is also not a fan of retail right now. He’s short the retail ETF and noted that high end names like Nordstrom and Ralph Lauren are also starting to roll over.

“These stocks are not trading well over the last couple of weeks,” he said. “I think retail underperforms just as it did last holiday season.”

Got something to to say? Send us an e-mail at fastmoney-web@cnbc.com and your comment might be posted on the Rapid Recap. If you'd prefer to make a comment, but not have it published on our Web site, send those e-mails to .

Trader disclosure: On Nov. 22, 2011, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s "Fast Money" were owned by the "Fast Money" traders: Terranova is long VRTS; Terranova is long LQD; Terranova is long MUB; Terranova is long AXP; Terranova is long IBM; Terranova is long EMC; Terranova is long SU; Terranova is long HES; Terranova is long AAPL; Terranova is long CSCO; Terranova is long STLD; Terranova is long CNQ; Terranova is long CAT; Terranova is long LULU; Terranova is long SBUX; Cortes is long Treasuries; Cortes is short Gold; Cortes is short Crude; Cortes is short Nasdaq; Cortes is short XRT; Cortes is short DB; Cortes is short BAC

Patty Edwards
Trutina Financial is long AAPL
Trutina Financial is long ORCL
Trutina Financial is long GLD
Trutina Financial is long QCOM
Trutina Financial is long MSFT
Trutina Financial is long INTC
Trutina Financial is long TGT
Trutina Financial is long GOOG
Trutina Financial is long POT
Trutina Financial is long SYT
Trutina Financial is long JOYG

Zach Karabell
Karabell is long AAPL
Karabell is long MS
Karabell is long ORCL
Karabell is long IBM
Karabell is long GOOG
Karabell is long JOYG
Karabell is long MTW
Rivertwice is short XLF
Rivertwice is long ORCL
Rivertwice has long calls HPQ
Rivertwice is long IBM
Rivertwice is long TGT
Rivertwice is long DE
Rivertwice is long POT

Dan Dicker
Dicker owns RIG
Dicker owns ATPG
Dicker owns OXY
Dicker owns EOG

Dennis Gartman
Gartman is long Euro
Gartman is short S&P futures

Jeff Hirsch
No disclosures

Michael Pachter
I, Michael Pachter, certify that the views expressed in this report accurately reflect my personal opinion and that I have not and will not, directly or indirectly, receive compensation or other payments in connection with my specific (NFLX) recommendations or views contained in this report.
Wedbush makes a market in the securities of NFLX.

Hans Mosesmann
Raymond James & Associates makes a NASDAQ market in shares of Intel Corporation.

CNBC.com with wires.