Picks That Didn't Pan Out
Web Producer
On February 26, Guy recommended Lockheed Martin (LMT). Shares of LMT are down 6% since his call. He says still with Lockheed anyway; “It’s going to $105.”
On April 4, Tim shorted Advanced Micro Devices (AMD), saying 2008 will be worse than 2007. But now the is up 6% since the call. Tim says it’s just a little continuation, and AMD is a long-term secular play that will fall further behind Intel (INTC). He’d still short it.
On March 9, Jon recommended Suntech Power (STP) which was since downgraded at Goldman Sachs, and lost 5% because of it. Jon still wants to own it though because of its exposure in alternative energy.
And a viewer e-mails the guys to ask Jeff about a call he made last week on Best Buy (BBY). Jeff recommended buying BBY ahead of last week’s earnings and even went so far as to recommend the April $50 calls. He was right about the earnings, but wrong about the stock price.
Jeff says he recommended the April calls in hopes of controlled the downside. He didn’t want people to get into a situation where they’re just hoping for a turnaround. At this point, you’re out either way, he says. It was an earnings play, the earnings came in, and now you should be selling regardless.
Questions? Comments? fastmoney@cnbc.com
Trader disclosure:
On APR 13 2007, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders:
Najarian Owns (AAPL), (BRCM), (BNI), (EBAY), (EMC), (FAST), (MRK), (MON), (MOS), (NDAQ), (POT), (STM), (STP), (WFT), (PKI), (HAL), (TRA), (T)
Strazzini Owns (SNDK), (STM), (USG), (WMT), (YHOO)
For the record:
Najarian Owned (STP) On 3/9/07
GE Is The Parent Company Of CNBC
