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Najarian’s Trader Training Camp

You’ve told us you need some basic training trading tips to get ahead of this market. The Pit Boss heard you and he's swapped his trading jacket for the coach's clipboard to help you tackle some elusive trades.

Here’s his report from Wednesday’s show.

I'm Pete Najarian - and this is your trader training camp.

From my days dominating the practice field in Minnesota to the dog days of pro football off-season drills, I know what training camp is all about.

It's about getting the basics, and beating you down to understand what really leads to winning on the playing field, and on the trading floor - defense. The great offenses are exciting but it's the defense that wins the Super Bowl every year.

Defense is about preserving winners.
And understanding the discipline needed to cut losers, stay smart in this market, keep a cool head and know your in and out points for a stock.

So take it from the Pit Boss when your playing in a high-flying market that changes everyday defense is what wins, and defense starts with discipline.

What’s Najarian's strategy?

- Learn the basics & stay disciplined when you trade
- Don’t be afraid to preserve winners & cut losers
- Make sure to define your buy/sell points & stick to them

And if you’re looking for a trade Najarian recommends stocks that are trading in a tight band. For that reason he says put Freeport McMoRan on your radar. Around $50 it’s a buy and $65 it’s a sell, he says.


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Trader disclosure: On Aug 19th, 2009, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Finerman's Firm Owns (BAC) Preferred Shares, Finerman Owns (BAC) Preferred Shares And Owns (BAC); Finerman's Firm Owns (WFC) Preferred Shares And Is Short (WFC), Finerman Owns (WFC) Preferred Shares; Finerman's Firm Owns (MSFT), (TGT), (WMT), (HPQ), (SYK); Finerman's Firm Is Short (IYR), (IJR), (MDY), (IWM), (SPY), (USO); Terranova Owns (AMZN), (MSFT); Terranova Is Short (AVB); Seymour Owns (AAPL), (AA), (BAC), (UNG), (POT); Seygem Asset Management Owns (YGE); Seygem Asset Management Is Short (FXI); Najarian Owns (BAC); Najarian Owns (C) Calls; Najarian Owns (CIEN) Calls; Najarian Owns (FCX), Owns (FCX) Put, Is Short (FCX) Calls’ Najarian Owns (HPQ) Calls; Najarian Owns (INTC); Najarian Owns (MS) And Is Short (MS) Call; Najarian Owns (MSFT) And Is Short (MSFT) Call; Najarian Owns (UBS) Calls’ Najarian Owns (YHOO) Call Spread; Najarian Owns (POT) Call Spread; Najarian ;wns (PALM) Calls

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