Fast Money: Rapid Recap - The first and only official show synopsis
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They looked like hot stocks. So how are the traders playing Carnival and Baidu now that they've been burned?
Tim Seymour
On August 17th the Ambassador said to bet against Baidu [BIDU
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]. “It's a crowded trade,” he grumbled. “I’m short because I think it's going down.”
But as it turns out shares hardly went down at all, rarely trading lower than they did on August 17th. So what does Seymour have to say for himself?
I was right about momentum but wrong on the direction, says Seymour. But it's the wrong part that matters.
Joe Terranova
On August 25th the Liquidator thought the cruise ship trade was going glug, glug, glug. “I’d buy some puts in Carnival Cruise Lines [CCL
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],” he said. “I just can't see the travel industry having any sort of resiliency through the remainder of the year.”
End of the year, how about early September? Unless you hopped off this short trade very quickly, you were out of luck with shares rising 11% this week alone. So what does Terranova have to say for himself?
I still think the stock will sink, says Terranova.
In case you're wondering, Pete Najarian got a pass this week.
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Trader disclosure: On Sept. 11, 2009, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders: Najarian Is Long Apple (AAPL): Najarian Is Long Bank of America Stock, Short Calls: Najarian Is Long Citigroup Calls: Najarian Is Long Discovery Financials Calls: Najarian Is Long (ENER):Najarian Is Long (FCX), Short Calls:Najarian Is Long (JPM) Stock, And Puts; Najarian Is Long (JOYG) Stock, Short Calls; Najarian Is Long (MS) Stock, Short Calls; Najarian Is Long (MSFT) Stock, Short Calls; Najarian Is Long (PALM) Calls; Najarian Is Long (RIMM) Calls; Najarian Is Long (TEVA) Stock; Najarian Is Long (V) Stock, Short Puts & Calls; Najarian Is Long (WFC) Long Puts, Short Stock; Najarian Is Long (YHOO) Calls; Terranova Is Short (CCL); Terranova Is Long Gold Futures; Seymour Owns (AA); Seymour Owns (AAPL); Seymour Owns (BAC); Seymour Owns (BX); Seymour Owns (F); Seymour Owns (RIMM); Seymour Owns (SBUX)
For Scott Nations:
Nations is long call verticle spread on (LVS)
For Mark Schoenebaum
Deutsche Bank Owns (AMGN)
(AMGN) Is An Investment Banking Client of Deutsche Bank
Deutsche Bank Owns (BIIB)
(DBSI) Is An Investment Banking Client of Deutsche Bank
(GENZ) Is An Investment Banking Client of Deutsche Bank
Deutsche Bank Has Received Compensation from (GENZ)
Deutsche Bank Owns (GILD)
Deutsche Bank Owns (ACOR)
(ACOR) Is An Investment Banking Client of Deutsche Bank
For Brad Hintz
(MS) Has been a Client of Bernstein in the Past 12 Months
Hintz Owns (MS)
Mr. Hintz received a one time payment of 8,974 from (MS) in 2009
An affiliate of Bernstein received compensation for non-investment banking-securities related services from the following companies MS
Data is a real-time snapshot *Data is delayed at least 15 minutes