In baseball, it’s three strikes and you’re out but is the same true for stocks?
"What we are seeing here is churning around on light volume. It is best to avoid making grand pronouncements about market trends on this type of trading," counsels CNBC’s Bob Pisani.
Then how should you position yourself?
"The trend has been up and I think fighting that trend right now is crazy," he adds. "You've got to go with what's working and set tight stops. That's how to play the market right now."
And Pisani has one other piece of advice -- "Relax." It's the same advice you'll find on Pisani's blog Trader Talk. Check it out!
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Trader disclosure: On Aug 27th, 2009, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Terranova Owns (AMZN), (MSFT), (FCX), (BTU), (SU), (XOM), (WFT); Terranova Is Short (SHLD), (EES); Terranova Owns (CCL) Puts; Adami Owns (AGU), (C), (GS), (INTC), (BTU), (MSFT), (NUE); Najarian Owns (AAPL) Call Spread; Najarian Owns (BAC); Najarian Owns (BUCY) & Short (BUCY) Calls; Najarian Owns (C) Calls; Najarian Owns (FCX), Is Short (FCX) Calls, Owns (FCX) Puts; Najarian Owns (HGSI) Call Spread; Najarian Owns (JPM) & Short (JPM) Calls; Najarian Owns (MS) And Is Short (MS) Calls; Najarian Owns (MSFT) And Is Short (MSFT) Calls; Najarian Owns (PALM) Calls; Najarian Owns (TXT) Calls; Najarian Owns (TEVA); Najarian Owns (V) & Short (V) Calls; Najarian Owns (WFT) Call Spread; Najarian Owns (YHOO) Call Spread; Najarian Owns (XHB) Call Spread; Cortes Owns (SPX), (GS); Cortes Is Short Nasdaq 100; Cortes Is Short (JPM); J. Najarian owns (DELL) Calls ; J. Najarian Owns (AAPL) & Short (AAPL) Calls ; J. Najarian Owns (CHU)
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