×

Navigating Market Landmines

graphic_fast_money.jpg

In a market littered with landmines, how should you trade? Pete Najarian has a strategy for you!

“This is as difficult a time as ever to trade,” says the Pit Boss on CNBC’s Closing Bell. “You have to go what works in specific ranges.”

In other words, in this market some stocks (outside the financials) have been trading in a range; bouncing off levels of support and bouncing off levels of resistance.

Najarian thinks that’s the way to play this market. In other words get long when the stock is near the bottom of its range and then get short as it nears the top.



And one stock he recommends looking at is Freeport McMoRan. “It finds support at $27,” he says.

Symbol
Price
 
Change
%Change
FCX
---

Pete’s brother Jon Najarian says much the same. On Tuesday February 10th he presented a similar strategy which he called range roving. Again that's buying at the bottom and selling at the top.

“Look at the VIX ," he said, "it has been range bound -- trading between 40-50.

Or, if you don’t like trading indexes you can execute the same trade with ArcelorMittal . “It’s a buy around $22 and a sell around $28.”


______________________________________________________
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 website send those e-mails to fastmoney@cnbc.com.

CNBC.com with wires