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 Hologic, Melco and more now that they've been burned?
Pete Najarian
On September 14th the Pit Boss thought a medical name looked like it would return healthy profits due to options action. “Take a look at Hologic [HOLX
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],” he said. “This is another company in the diagnostics area. Investors started coming for the upside options focussed on September 17 calls and October 20 calls.”
As it turns out, following options action into this trade left you with nausea. Since Najarian suggested a long position shares dropped about 10%. So what does he have to say, now?
I do like the stock, he says, but unfortunately the markets moved the other way.
Tim Seymour
On September 10th the Ambassador suggested betting on the gambling trade in Macau with a casino stock. “I love Melco [MPEL
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],” he said. “They have sprouted another blossom in the gaming world.”
But unless you were quick, Seymour’s Melco trade turned up snake eyes, with shares initially climbing but now lower since he made the call. So, what does he have to say, now?
This trade was not good to me, he admits. But I still like the company long-term.
Guy Adami
The Negotiator must have had stars in his eyes on September 14th when he suggested this Hollywood studio trade. “After Disney acquired Marvel I’d keep an eye on DreamwWorks [DWA
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] as a takeover target, “ he said. “William Blair upgraded it, saying it could be a $50 stock. I don't know if it gets there, but even on a downtape I think DWA still works.”
We can’t shout hurray for Hollywood this time. In just the past week shares of DreamWorks are down 8%. So what does he have to say now?
The timing was lousy, says Guy Adami, but I'd still own it.
Karen Finerman
The Chairwoman can usually spot value but on August 14th a retail trade left Finerman holding the bag. “The XRT, which is the specialty retail index, has come too far too fast,” she said. “I think there's more downside here. I’d go long Walmart [WMT
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], and short the XRT [XRT
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] against it.”
Although the stores may take returns Finerman’s trade certainly didn’t generate them. Over the past month the XRT has climbed about 5% while Walmart is down – that’s the opposite of what Finerman anticipated. So what does she have to say now?
I still think specialty retail is expensive, says Finerman.
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Trader disclosure: On October 2, 2009, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Adami Owns (AGU), (C), (GS), (INTC), (MSFT), (NUE), (BTU); Najarian Owns (C) Calls; Najarian Owns (FFIV) Call Spread; Najarian Owns (GE) Calls; Najarian Owns (JPM) And Is Short (JPM) Calls; Najarian Owns (INTC) And Is Short (INTC) Calls; Najarian Owns (MSFT) And Is Short (MSFT) Calls; Najarian Owns (PEP) Call Spread; Najarian Owns (WFC) Put Spread; Najarian Owns (YHOO) Call Spread; Finerman's Firm Owns (CSCO), (MSFT), (USO); Finerma's Firm And Finerman Own (WFC) Preferred Shares; Finerman's Firm Is Short (IYR), (IJR), (MDY), (SPY), (IWM), (UNG); Finerman's Firm Owns (BDX); Finerman's Firm Is Short (TLT); Finerman's Firm Owns (BAC), (BAC) Calls, (BAC) Preferred; Finerman Owns (BAC), (BAC) Preferred; Finerman's Firm Owns (WMT); Finerman's Firm Is Short (XRT); Finerman's Firm Is Short (BWA); Finerman's Firm Is Short (USO); Seymour Owns (ABV); Seygem Asset Management Is Short (PBR); Seymour Owns (EWZ); Seygem Asset Management Owns Lukoil Shares
GE Is The Parent Company Of CNBC
NBC Universal Is The Parent Company Of CNBC
For Brian Stutland
Stutland Equities Is A Market Maker In S&P 500
Stutland Equities Is A Market Maker In VIX, Is Short Near Term Volatility, Is Long
Far Term Volatility, Is Long VIX
Stutland Equities Is A Market Maker In (BAC)
Stutland Owns (BAC) And Is Long (BAC) Time Spread
Stutland Is Short (SPY)
Stutland Equities Is A Market Maker In Long S&P 500 Volatility
Stutland Equities Is A Market Maker In VIX Short Near Term Volatility And Long
Far Term Volatility
Stutland Is Short (SPY)
For Zachary Karabell
Karabell Owns (VALE)
Najarian Owned (HOLX) Calls On 9/14/09
Finerman's Firm Was Short (XRT) On 8/14/09
Data is a real-time snapshot *Data is delayed at least 15 minutes