Fast Fire – Friday Apr. 4th
Sometimes a stock is hot and other time it just burns. Following are the Fast Money misfires.
Last week, on March 25th, the Lone Wolf recommended putting the brakes on the automakers. At the time he said, "People don't buy durable goods when confidence is this low, the automakers are unsafe at any speed."
Despite dismal March sales figures, Ford and General Motors shares have been on a tear, up 10%.
Any rally in the automakers is, and continues to be, a selling opportunity, Jeff Macke exclaims!
Last Tuesday, the Pit Boss spotted options action in a digital photo firm. At the time he said, "Omnivision makes camera chip technology. "Keep an eye on that one, I am long of Omni."
This trade has been less than picture perfect. Shares are down since Pete's call.
I’m still holding these calls, Pete Najarian reveals.
Last Monday, the Chairwoman thought the way to play commercial finance company CIT Group was to stay away. At the time she said, “They're hoping for a buyer, they're hoping for some rich overseas buyer to come bail them out, I'd be staying away from CIT."
Maybe Finerman should have embraced this stock, instead. Shares are 18% higher since her call.
Their business model doesn’t work, says Finerman. I can’t get onboard even with a gigantic rally.
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Trader disclosure: On Apr.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 (YHOO), (MSFT), (INTC), (DIS); Najarian Owns (AAPL), (YHOO), (ENER); Najarian Owns (MER) Puts, (LEH) Puts; Najarian Owns (BSC) Calls, (MSFT) Calls, (MAR) Calls, (ESLR) Calls; Finerman Owns (HD), (LOW), (CROX); Finerman's Firm Owns (GS), (YHOO), (MSFT), (WMT), (HD), (CROX), (MO); Finerman's Firm Is Short (IYR), (IJR), (IWM), (SPY); Najarian Owns (AAPL), (YHOO), (ENER); Najarian Owns (MER) Puts, (LEH) Puts; Najarian Owns (BSC) Calls, (MSFT) Calls, (MAR) Calls, (ESLR) Calls