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Missed the rally? 22 catch-up trades

After stockshit a new intraday high on Monday, the CNBC "Fast Money" traders shared their best plays going forward.

OptionMonster's Pete Najarian said the CBOE Volatility Index, widely considered a reliable measure of fear in the market, was worth buying under its current 15 level.

For upside, his plays were: "Financials, chips, pharma," he said. "You can win in all three of those."

Read MoreThis is the 'stuff' I'm buying: Dennis Gartman

Traders on the floor of the New York Stock Exchange.
Brendan McDermid | Reuters
Traders on the floor of the New York Stock Exchange.

After hitting new highs, the Dow Jones Industrial Average and the S&P 500 ended lower, with energy shares taking a big hit as crude oil ended below $79 per barrel for the first time since mid-2012.

Brian Kelly of Brian Kelly Capital said deflation was a very real possibility.

His trade: "You buy treasuries, TLT, or you buy the U.S. dollar," he said.

Watch 13 trades in 77 seconds for more ways to play catch-up.