The Fast Money Misfires – Friday May 30th
Sometimes a stock is hot and other time it just burns. Following are the Fast Money misfires.
On May 14th the Lone Wolf went department store shopping. At the time he said, “I like Kohl's . Get long these retailers into their earnings reports, they should be better than apocalyptic and that should be enough to be long in the short term."
Looks like Macke can’t always spot a bargain. Since his call shares are lower by 10%.
I still think investors can get long Kohl’s at current levels with a decent stop, Macke says.
On May 12th the Pit Boss hoisted the sails on a shipping play. At the time he said, "I like a lot of the names, but DryShips looks like it's ready to go up."
Well maybe the ship has sailed but the play certainly hasn’t. DryShips is down 11%.
There's no question that the stock is volatile, says Najarian. But I still like the space.
On May 13th the Chairwoman turned bullish on a liquid natural gas play. At the time she said, Golar LNG . We're long it, I own it."
Unfortunately this play was full of hot air. Since her call Golar dropped 12%.
I continue to like this name a lot, she says. And I have a big position in it.
On May 19th the Negotiator went long board shorts, (surf board shorts we mean.) At the time he said, “There’s a pretty big short-interest out there in Quicksliver . I think you can buy some.”
No big wave to ride here. Quicksilver dove 12% since Adami’s buy recommendation.
That was a bad pick and I should have kept my mouth shut, admits Guy Adami.
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Trader disclosure: On May 30, 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 (MSFT), (INTC), (DIS), (WMT), (ATVI); Najarian Owns (AAPL), (ANR), (BHI), (BKC), (HPQ), (TSO), (XLF), (AMLN), (HD), (SYMX); Najarian Owns (HK) Calls; Najarian Owns (EXM) And (EXM) Puts; Adami Owns (BTU), (C), (GS), (INTC), (MSFT), (NUE), (AGU); Finerman Owns (GS); Finerman's Firm And Finerman Own (GLNG), (HD); Finerman's Firm And Finerman Own (C) And (C) Leaps; Finerman's Firm Owns SXP Index Puts; Finerman's Firm Owns (AAPL), (MSFT), (SUN), (TSO), (VLO), (SBUX), (MPG); Finerman's Firm Is Short (IYR), (IJR), (MDY), (IWM), (SPY)
Finerman's Firm Owned (GLNG) On 5/13/08, 5/19/08