The Fast Money Misfires – Friday Jan. 25th
Sometimes a stock is hot and other time it just burns. Following are the Fast Money misfires.
On January 18th the Pit Boss thought Apple looked mighty tempting. At the time he said, “I really think they're going to blow the numbers away going into earnings."
But Najarian took a bite out of the wrong tech stock. Since Najarian’s buy recommendation shares of Apple are off 15% on disappointing earnings.
I still recommend owning it, says Pete Najarian.
On January 17th the Negotiator expected the stock of one mid-size bank… to tank. At the time he said, “Short PNC Financial . This will be a perennial drop to $49."
But one huge rate cut later this play left Adami seeing red not green. Shares of PNC are up 7% since he made the call.
I shouldn’t have said what I said, Guy Adami tells the panel sheepishly.
On January 14th the Chairwoman attempted to fan the flames of her portfolio with natural gas. At the time she said, “Be long natural gas. I like some of the bigger names such as Devon and Apache ."
But natural gas left Finerman out in the cold. Devon and Apache are both down in excess of 10% since Finerman recommended them.
I was wrong, Karen Finerman admits. But I don’t think the story has changed.
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Trader disclosure: On Jan 25, 2008, 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 (C), (CSCO), (MCD), (MS), (MSFT)’ Najarian Owns (AAPL) Calls, (COP) Calls, (DOW) Calls, (WM) Calls, (AAPL) Calls, (DPTR) Calls, (YRCW) Calls; Seymour Owns (AAPL), (CSCO), (INTC), (MSFT), (TSO), (SSL), (SBUX), (YHOO); Seygem Asset Management Owns (COP); Finerman's Firm And Finerman Own (HD); Finerman Owns (GS), (M), (WMT), (MO), (GLNG), Finerman's Firm Owns (SUN), (TSO), (VLO), (YHOO), Finerman's Firm Is Short (IYR), (IJR), (IWM), (MDY), (SPY); Finerman's Firm Is Short (LEH) And Owns (LEH) Puts; Finerman's Firm Owns Paramount Energy Trust