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Fast Money Misfires - Friday Mar. 7th

Sometimes a stock is hot and other time it just burns. Following are the Fast Money misfires.

Jeff Macke

On Feb. 28th the Lone Wolf recommend the Gap ahead of same store sales. At the time he said, "Expectations are low. "I'm a buyer."

Unfortunately fashion is fickle and this trade was hardly attractive. Shares are down 6% since the call.

It’s not a same-store sales trade, exclaims Macke. It’s a long-term trade and I’m sticking with it.

Pete Najarian

Last Tuesday the Pit Boss thought diagnostics firm Cepheid might be a buy on it's 52-week high. At the time he said, “Look at Cepheid as a diagnostics play.”

Good thing Najarian’s not a doctor. He didn’t diagnose this trade terribly well. Since the call shares are down 26%.

I still think the diagnostic business is a great business, says Najarian, and I like CPHD at current levels.

Guy Adami

Last Monday the Negotiator thought he saw a short-squeeze in the making for Cree , At the time he said, “I think you're going to see this stock explode, the stock is going to get squeezed."

But shares of the L-E-D maker have dimmed since Adami’s call. They’re down 16% since the call.

On a day when this stock trades 8 to 10 million shares I think it’s a buy, says Adami.

Karen Finerman

For quite some time Finerman has recommended DaVita a dialysis company. On Feb. 26th she said, “Stick with this company. I think its recession proof.”

The Chairwoman thought wrong. Shares have taken a tumble, down 10% since her last call.

I still like it, she says.

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Trader disclosure: On Mar. 7, 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 (AAPL), (C), (CSCO), (MS), (MSFT), (XLF), (MCD), (BKC); Pete Najarian Owns (COP) Calls, (AMAT) Calls; Pete Najarian Owns (XLB) Puts, (USB) Puts; Pete Najarian Owns (YHOO) And (YHOO) Calls; Finerman Owns (GS); Finerman's Firm And Finerman Own (FLS), (HD); Finerman's Firm Owns (AAPL), (DVA), (FNM), (MSFT), (TSO), (WMT), (YHOO); Finerman's Firm Is Short (IYR), (IJR), (MDY), (SPY), (IWM), (COF), (RTH); Finerman's Firm Is Short (LEH) And Owns (LEH) Puts; Finerman's Firm Owned (DVA) On 12/17/07, 2/12/08, 2/26/08

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