The Fast Money Misfires
Sometimes a stock is hot and other time it just burns. Following are the Fast Money misfires.
On December 17th, The Negotiator expressed a bearish sentiment on bullion stocks. At the time he said, "I'm still cautious of Newmont …. Don't be in the mining stocks if you're bullish in gold because they will move a lot quicker on the downside..."
But since then, gold has gone through the roof, spiking shares of Newmont Mining by 12%.
Today, Adami stands by his trade. “If you’re bullish gold, buy GLD,” he says. “I think investors are flooding into the mining stocks incorrectly.”
Just this Wednesday, the Lone Wolf, made a bullish call on retailers. At the time he said, “For the trade the Retail HLDRS is a buy at $90."
But since then shares of the ETF are off some 3% -- hardly seems like a bargain.
Today Jeff Macke admits the trade was a mistake. “I thought the jobs number would be stronger than expected.. Boy did that come back to bite me in the hind quarters,” he says.
On December 26th, the Pit Boss went digging for a coal play. At the time he said, "Take a look at Alpha Natural Resources . (I think) somebody, somebody is eyeing these guys up."
But, that somebody has yet to emerge. And despite the Goldman upgrade, shares of alpha natural resources are down 12%.
Today Pete Najarian stands by his trade. “I still love the coal names,” he says.
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Trader disclosure: On Jan 4, 2008, 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 (INTC), (YHOO); Pete Najarian Owns (CSCO), (MSFT); Pete Najarian Owns (AAPL) Options, (NEM) Options, (VLO) Options, (WEN) Options, (YHOO) Options; Jon Najarian Owns (ACI), (AG), (AGU), (BTU), (DE), (DELL), (MON), (MOO), (MOS), (POT), (WEN), (YHOO), (WLP); Jon Najarian Is Short (BSC), (KLAC), (VLO); Charles Schwab Is A Sponsor Of "Fast Money"; Pete Najarian Owned (ANR) On 12/26/07;