The Fast Money Misfires – Friday March 20th
Sometimes a stock is hot and other times it just burns. Following are trades that didn't end so well.
On February 27th the Wolf said there’s more for your life thanSears and recommended getting out of the stock. In fact, at the time he said, “It’s dead!”
But since Macke recommended selling, shares have bounced higher – up well over over 6%!
As you might expect the Wolf has no remorse. “Maybe if they paint their stores I’ll think about buying their stock,” he bristles.
On March 3, the Ambassador thought the run was done for Newmont Mining and for his final trade said to sell this and other miners. But since the call, Newmont popped 16%.
Seymour now concedes this isn’t the time to be short miners.
On February 27th, the Pit Boss said a bullish position in Dell simply ‘did not compute’. But since he shunned this stock, it’s climbed 19% largely due to the appeal of its new products.
Najarian isn’t too proud to admit he’s made a mistake. “This one burned me pretty bad,” he says.
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Trader disclosure: On Mar. 20th, 2009, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Seymour Owns (AA), (AAPL), (BAC), (EEM), (FXI), (TCK); Seymour's Firm Owns (PBR); Terranova Owns (KCE), (FXC), (XBI), (BRCM), (WYNN), (INTC), (JOYG), (DELL), (XOM), (IBM), (POT), (X), (JPM): Terranova Owns (COP) Calls; Terranova Owns (HESS) & (HESS) Calls; Terranova Owns (DIS) & (DIS) Calls; Terranova Owns (AMGN) & (AMGN) Calls; Macke Owns (GE), (SDS), (POT); Macke Is Short (BRK.b); Najarian Owns (C) Call Spread; Najarian Owns (GS) Call Spread; Najarian Owns (GD) Call Spread; Najarian Owns (MS) & (MS) Calls; Najarian Owns (POT) Call Spread; Najarian Owns (MSFT) & (MSFT) Calls; Najarian Owns (TGT) Call Spread; Najarian Owns (XHB) Call Spread