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No. 3 - A Defensive Answer

After Thursday's bloodbath, you've got to put up your dukes and get defensive! From safety trades such as consumer staples to ETFs that bet against the market, Eric Bolling explains how he thinks you should to play it.

Eric Bolling tells investors not to freak out. He says if you really need a hedge look at iShares Dow Jones Select Dividend (DVY) the highest dividend paying stock in the S&P.

He also recommends PowerShares Intl. Dividend Achiev (PID) as a way to capitalize on world growth in a relatively safe way.

Jeff Macke tells the panel to stick with Clorox (CLX) and Procter & Gamble (PG). On a related note, he doesn’t like the Consumer Staples Select Sect. SPDR (XLP) because he says that fund has a lot of Wal-Mart (WMT) in it.

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Trader disclosure: On July 26th 2007, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Bolling Owns (BP); (XOM)