The Fast Money Misfires
Sometimes a stock is hot and other time it just burns. Following are the Fast Money misfires.
On December 6th, the Pit Boss was a little off-target on a big box retailer. At the time he said "I think Target is giving us an opportunity. A little bit of potential bottom picking."
But since that call, shares of the retailer have fallen 8%. Now that’s hardly a bullseye.
Target’s 14 P/E ratio still makes the stock attractive to me relative to Wal-Mart, says Pete Najarian. If you own shares, I’d recommend holding them he counsels.
On December 5th, the Chairwoman recommended staying away from Solarfun . At the time she said, "To me, not fun. I would short it for a day or so because you never know…"
But shares of the Chinese solar panel maker have been scorching hot - up nearly 44%
It still doesn’t look fun to me, says Karen Finerman. I think it’s overvalued.
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Trader disclosure: On Dec. 28, 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 (YHOO), (INTC), (HAS), (ATVI); Najarian Owns (CSCO), (C), (MS), (MSFT), (TGT); Najarian Owns (AAPL) Options, (WM) Options, (YHOO) Options; Finerman Owns (GS); Finerman's Firm Owns (WMT), (YHOO), (CLWR), (DSW), (AEO); Finerman's Firm Owns (MDY) Puts And Is Short (MDY); Finerman's Firm Is Short (IYR), (IJR), (SPY), (IWM), (SPG), (TCO); Finerman's Firm Is Short (LEH) And Owns (LEH) Puts; Finerman's Firm Owns S&P 500 Puts; Finerman's Firm Owns Russell 2000 Puts; Finerman's Firm Owns (MSFT) Options