The Fast Money Misfires – Apr. 25th
Sometimes a stock is hot and other time it just burns. Following are the Fast Money misfires.
On April 9th, the Pit Boss turned bullish on an airline. At the time he said, "I’m sticking with AMR . Oil's at $112 and these stocks are where they were 3 days ago. That's a win for the airlines."
But since then it's been a turbulent ride. Record oil has contributed to a decline for the parent company of American Airlines.
I was wrong, Pete Najarian says. If oil turns around then maybe it will be time to get back in.
Just this Tuesday April 22nd, the Chairwoman offered a tech play as her Final Trade. At the time she said, "I want to be long Microsoft going into earnings."
But shares are down 6% Friday after Mr. Softy offered guidance that was less than many investors had hoped.
I’m sticking with this trade, says Karen Finerman. It’s a long- term story.
On April 8th, the Lone Wolf might have been a little over caffeinated. At the time he said, "Starbucks is still a better place to have coffee than Burger King and McDonald’s and that will remain the case for the foreseeable future which makes me bullish on the stock in the long term if they would just listen to me!"
Maybe they'll listen now. Shares of the coffee maker are off 13% since Jeff's call.
Until they call me, exclaims Jeff Macke, stay out of this stock!
On April 3rd, the Negotiator turned bullish on this financial. At the time he said, “Good things are happening at Ameriprise Financial . It’s a great baby boomer play, no subprime exposure. I think they could surprise.”
Surprise they did, but the surprise was to the downside. Shares of Ameriprise are off 11% since Adami’s call.
I was wrong, Guy Adami admits. Nothing more to say.
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Trader disclosure: On Apr. 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: Macke Owns (INTC), (MSFT), (DIS), (ATVI), (HAS); Najarian Owns (AAPL), (TSO), (XLF), (YHOO); Najarian Owns (CHK) Calls, (MSFT) Calls, (POT) Calls; Finerman Owns (GS); Finerman's Firm And Finerman Own (FLS); Finerman's Firm Owns (MO), (GE), (MSFT), (PM), (SUN), (TSO), (VLO); Finerman's Firm Is Short (IYR), (IJR), (MDY), (IWM), (SPY); Finerman's Firm And Finerman Own (KALU); Finerman's Firm Owns (YHOO) Call Spreads; GE Is The Parent Company Of CNBC; NBC Universal Is The Parent Company Of CNBC; Charles Schwab Is A Sponsor Of "Fast Money"
Finerman's Firm Owned (MSFT) On 4/22/08
Najarian Owned (AMR) On 4/9/08