Is “Wow” Over For Wii?

With the release of Grand Theft Auto and “Wii Fit” behind us is it time to sell your video game winners?

On Monday Nintendo launched one of the most hotly anticipated video games of the season, it’s "Wii Fit" exercise game

Analysts expect "Wii Fit" to be limited only by how many units Nintendo can make with some estimating that up to 30 percent of the nearly 10 million Wii owners in the United States will buy the product in the next few weeks.

Meanwhile, Take Two Interactive set industry records with the release of Grand Theft Auto IV. Since its debut April 29, more than 6 million copies of the new video game have been sold.

Despite these huge tailwinds, some investors are wondering if it’s time to sell the video game winners?

I have 3 words for investors, exclaims Jeff Macke. Sell the news! It’s time to get out. We’re near the peak of the cycle. And Electronic Arts looks like a flat out short to me.

Some investors might be looking at GameStop because it’s way off its highs, Pete Najarian adds. Well if you are one of them, make sure to also buy puts for protection.

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Trader disclosure: On May 19, 2008, 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 (C), (GS), (INTC), (MSFT), (AGU), (BTU), (NUE); Najarian Owns (AAPL), (TSO), (XLF); Najarian Owns (TE) Calls; Macke Owns (DIS), (INTC), (ATVI), (EMC); Finerman Owns (GS); Finerman's Firm And Finerman Own (HD) And (HD) Puts; Finerman's Firm Owns (GLNG), (MSFT), (SUN), (TSO), (VLO); Finerman's Firm And Finerman Own (C) And (C) Leaps; Finerman's Firm Owns SPX Index Puts; Finerman's Firm Is Short (IYR), (IJR), (MDY), (SPY), (IWM)