The Fast Misfires
Sometimes a stock is hot and other times it just burns. Following are the Fast Money misfires.
On Monday July 23rd, The Lone Wolf recommended getting out of Amazon.com (AMZN) ahead of earnings. At the time Jeff said, “This is another stock with an enormous run into earnings….I would be taking profits if I was long.”
Since the call shares of the online retailing giant have gone soaring into cyberspace. They’re up 17%.
Today Jeff Macke says he would still take profits in Amazon. And he recommends getting long online jeweler Blue Nile (NILE).
On July 3rd, The Negotiator was bullish on American carmaker, Ford (F). At the time he said, “It traded 80 million shares. Although the stock was down….I still love what’s going on in Ford.”
But shares of Ford have stalled like an old Fairlane. They’re down 13% since Adami's call.
Today Guy Adami says he’s staying with Ford.
On July 19, The Pit Boss, took a liking to Foot Locker (FL). In the Web.Extra he said, “A lot of options activity came in this morning following this rumor about Apollo. (Traders) are selling time - because they think its going to be taken over.”
But the sneaker store appears to have lost its stride; shares have tumbled 16% since the call.
Today, Pete Najarian says cheap money is harder to find now. Consequently he can’t support speculation of a takeover.
Stacey Briere Gilbert
Stacey tells the panel that she deserves to be fast fired for recommending Starwoood (HOT) the last time she was on “Fast Money”. However she also says the stock is a buy when it gets a 5-handle. (It’s worth noting HOT closed at $63.33 on Friday July 27th)
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Trader disclosure: On July 27th 2007, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders;Macke Owns (ATVI), (DIS); Najarian Owns ( C),(GS) SSusquehanna Financial Group Is A Market Maker In (GTRC), (ATVI), (AMZN), (ERTS), (INTC), (KYPH), (VMSI); Susquehanna Financial Group Owns More Than 1% Of (BZH); Gilbert Owns Options In (HOT) Stacey Briere Gilbert Is Chief Options Strategist For Susquehanna Financial Group, LLLP; Gilbert Is Head Of Market Intelligence Research For Susquehanna Financial Group, LLLP; Gilbert Does Not Cover Individual Securities But Does Recommend Trading Strategies