Fast Money Traders Share Their Protection Plays

Speaking on CNBC's Fast Money, Guy Adami said that Costco Wholesale Corporation COST is one of the stocks that offers a lot of protection in current market environment. He explained that the company reported great comparable store sales or "comps" in August and it should post even better numbers in September. Adami likes the management because they are doing everything right. He added that the stock held well on a weak day for the market and it should be bought ahead of the earnings next week. Jon Najarian thinks that buying VIX call spreads is a good way to protect a portfolio. Tim Seymour thinks that Cisco Systems, Inc. CSCO is a good buy. It trades at 11 times forward earnings and the S&P 500 trades at 16 times. Seymour also likes GDX because there are a couple of big macroeconomic events over the next couple of days, particularly the ECB meeting.