The Fast Money Misfires
Sometimes a stock is hot and other times it just burns. Following are the Fast Money misfires
On several occasions in early August, the Lone Wolf howled his love for, Costco (COST), a wholesale powerhouse. He said, “Costco, I think you get married to."
But since then, shares of Costco are off about 11%, including a 5% decline this week on poor same store sales figures.
Today Jeff says add COST stock to your portfolio in the $50’s and sell in the $60’s. (It’s worth noting on Friday September 7th COST shares closed at $57.)
Just this week, on Wednesday September 5th, The Negotiator felt umm-umm good about his Web-Extra pick. He said, "I like Campbell's Soup (CPB). It’s a huge growth story."
But disappointing earnings sent shares down 6% since Adami's call leaving him with a bad taste in his mouth.
Today Guy admits his timing was off and he was wrong about this play.
On Tuesday September 4th, The Chairwoman was bullish on a back-to-school pick. She said, “I like Office Depot (ODP). The back to school customer is still there."
School may be on -- but the trade was off. Shares of Office Depot declined 18% after the company slashed guidance.
Today Karen says cut your losses and get out.
And finally, on Wednesday September 5th, The Pit Boss looked into the palm of his hand and offered this tech play. He said, “Look at Research in Motion (RIMM). I think all these gadget makers will continue to go strong."
But shares of RIMM have been off 4%, perhaps in response to the price reduction in Apple's iPhone.
Today Pete says he still likes this company and he doesn’t regret the call.
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Trader disclosure: On Sept. 7, 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 (BJS), (BQI); Najarian Is Short (GS); Finerman Owns (GS); Finerman's Firm And Finerman Own (HD); Finerman's Firm Owns (AA), (KFT),(NTO), (WMT) Finerman's Firm Owns S&P 500 Puts ; Finerman's Firm Owns Russell 2000 Puts ; Finerman's Firm And Finerman Own (HD)