No more blind buying, all boats lifting, or piggy-backing the indexes this quarter. Forgive the clichés, but the fourth quarter will see the return of the "stock pickers' market," according to traders. Over the last three months, every sector that makes up the S&P 500 went up. Inside those sectors, only a handful of stocks did not go up. Now is the time to take profits on many of your winners and add to names that can weather a bit of an economic setback, according to the Fast Money gang.

The average U.S. Diversified Mutual Fund is up 38 percent in the last 6 months, when this rally really began, according to the latest data from Morningstar. That tops a 34 percent return over the same period by the S&P 500. Kudos for the outperformance, but their job is about to get much harder.