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Fast Money HomeFast Money Rapid RecapAbout Fast MoneyFast Money BiosFast Money Web ExtraFast Money Disclaimer
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May.29
6:10 PM ET
Friday, 29 May 2009
Burned By Nasdaq, Autos & More

They looked like hot stocks; so how are the Fast Money traders playing the Nasdaq, the auto space and elsewhere, now that they've been burned.

Joe Terranova

On April 6th the Liquidator didn’t take a shine to gold. He said, “the safe haven trade just doesn’t work.”

Looks like Terranova didn’t come up with a shiny winner. Since that time the SPDR Gold Trust [GLD  Loading...      ()   ] which tracks the spot price of gold is over 10% higher. What does Terranova have to say for himself?

As long as the dollar continues to depreciate, especially at the rate it's depreciating, then gold goes higher -- possibly to $1000, says Terranova.

(GLD)
Loading...       (%)

Karen Finerman

On May 19th the Chairwoman suggested steering clear of an auto parts play. At the time she said, “Borg Warner [BWA  Loading...      ()   ], I wouldn’t go that way. That’s way ahead of itself.

Turns out Finerman took a wrong turn. Shares of Borg Warner are 5% higher since she said to look elsewhere. What does Finerman have to say for herself?

I still believe that the auto sector isn't the place to play, says Finerman. But I'm limiting my losses by owning puts.

(BWA)
Loading...       (%)

Pete Najarian

On May 6th the Pit Boss was bullish on the Nasdaq [NDAQ  Loading...      ()   ]. At the time he said, You've got to love them as a barometer of the market itself.”

Najarian probably wishes he could exchange this exchange play. It’s down 6% since he made a bullish bet. What does Najarian have to say for himself?

Long term I still believe in this trade, says Najarian. Volumes should be increasing.

(NDAQ)
Loading...       (%)


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Trader disclosure: On May 29th, 2009, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Grasso Owns (AMZN), (CSCO), (RIMM), (V), (KLF); Stuart Frankel Clients Own (SUN), (YHOO), (AAPL), (AMD) ,(BAC) ,(BHI) ,(BP), (C), (COP) ,(CVX) ,(F) ,(GS) ,(HAL) ,(PFE) ,(SLB) ,(SUN) ,(USO) ,(VLO) ,(WFC) ,(USB) ,(PBR), (JPM), (LMT), (GD), (AET), (GM); Finerman's Firm Owns (MRO); Finerman's Firm Is Short (IJR), (MDY), (SPY), (IWM), (USO); Finerman's Firm And Finerman Own (BAC) Preferred Shares And Are Short (BAC); Finerman's Firm And Finerman Own (WFC) Preferred Shares, Finerman's Firm Is Short (WFC); Najarian Owns (PFE); Najarian Owns (BP) Call Spread; Najarian Owns (CLF) Call Spread; Najarian Owns (FCX) Call Spread; Najarian Owns (HIG) Put Spread; Najarian Owns (XHB) Call Spread; Najarian Owns (PCU) Calls; Finerman's Firm Owns (IBB), (XBI), (CSCO), Finerman's Firm And Finerman Own (FLS); Finerman's Firm Owns (BWA) Puts

Terranova Owns (XBI), (ABT), (RIMM), (HES), (TER), (BTU), (MS), (JPM), (MS), (HES); Terranova Is Short (XOM) Call Spreads; Terranova Owns (DIS) Call Spreads: Terranova Works For (VRTS); Terranova Is Chief Alternatives Strategist Of Virtus Investment Partners, Ltd.; Terranova Is Co-Portfolio Manager Of The Virtus Diversifier PHOLIO: Virtus Diversifier PHOLIO Owns (IGE), (DBC), (DBV); Virtus Investment Partners Owns More Than 1% Of  (ABD),(ARE),(CAL),(DLR),(EPR),(EXR),(IGE),(MEE),(DBC),(DBV),(DBA),(SKT),(UA),(CLB), (WBMD); Virtus Investment Partners Owns More Than 1% Of St Mary Land & Exploration Co; Virtus Investment Partners Owns More Than 1% Of  Seagate Tax Refund Rights

© 2009 CNBC.com

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