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Trader Icons: Lessons From Greatness

In honor of our extended Halftime Report launch, Fast Money is profiling the trading icons that thrived between 9:30am and 4pm.

First up – one of the very first men to make his fortunes from shorting the market; Jesse Livermore!

No he didn’t short the housing bubble or the tech turbulence, Livermore shorted another greater bubble. The stock market crash of 1929.

And what was his number one rule of investing: "buy rising stocks and sell falling stocks.”

Although the landscape has changed dramatically since Livermore's day, his approach to profits still works.

The second part of that axiom would have really been a valuable for investors riding BP and RIG , muses Joe Terranova.

Conversely right now gold is rising, Terranova adds - and I think Livermore would agree; 'stay with it'.

> To see a slideshow of more Fast Money Trader Icons click here


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Trader disclosure: On June 8, 2010, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Terranova owns (IPSU), (BX), (PFE), (FTO), (RSX), (TER), (AXP), (BMO), (BBY), (DIS), (XCO), (SWN), (AAPL), (IPI), (SU), (V), (TEVA), (FXB), (GLD); Adami owns (AGU), (MSFT), (C), (GS), (INTC), (NUE), (BTU); Finerman’s firm owns (AAPL); Finerman owns (BP) calls; Finerman Owns (RIG) calls; Finerman’s firm owns (RIG) calls; Finerman owns (MCD); Finerman owns (JPM) calls; Finerman owns (BAC) calls; Finerman’s firm owns (JPM); Finerman’s firm owns (BAC); Finerman’s firm owns (C); Finerman owns (HPQ); Finerman’s firm owns (HPQ); Finerman owns (GLW); Scaramucci owns (AAPL), (MCD), (JPM), (BAC), (C), (WFC), (GOOG); Kelly owns (GS) puts; Kelly owns (SPY) puts: Jon Najarian owns and has sold calls against (MCD); Jon Najarian owns and has sold calls against (JPM); Jon Najarian owns and has sold calls against (BAC); Jon Najarian owns and has sold calls against (C); Jon Najarian owns and has sold calls against (WFC); Jon Najarian owns and has sold calls against (USB); Jon Najarian owns and has sold calls against (AAPL)l Jon Najarian owns and has sold calls against (GS)

For Joe Terranova
Terranova works for (VRTS)
Terranova is chief market strategist of virtus investment partners, ltd.
Virtus investment partners owns more than 1% of (AMKR)
Virtus investment partners owns more than 1% of (IGE)
Virtus investment partners owns more than 1% of (DBV)
Virtus investment partners owns more than 1% of (XLB)
Virtus investment partners owns more than 1% of (XLV)
Virtus investment partners owns more than 1% of (XLP)
Virtus investment partners owns more than 1% of (XLY)
Virtus investment partners owns more than 1% of (XLI)
Virtus investment partners owns more than 1% of (XLU)
Virtus investment partners owns more than 1% of (DRYS)

For Anthony Scaramucci:
Skybridge Capital owns (AAPL)
Skybridge Capital owns (MCD)
Skybridge Capital owns (JPM)
Skybridge Capital owns (BAC)
Skybridge Capital owns (C)
Skybridge Capital owns (WFC)
Skybridge Capital owns (GOOG)

Brian Kelly
Kanundrum Capital is short(AMZN)
Kanundrum Capital is short(RCL)
Kanundrum Capital is short(XLY)
Kanundrum Capital is short(AFL)
Kanundrum Capital is short(CME)
Kanundrum Capital is short(EWI)
Kanundrum Capital is short(EWO)
Kanundrum Capital is short(GS)
Kanundrum Capital is short(HIG)
Kanundrum Capital is short(XLF)
Kanundrum Capital is short(FCX)
Kanundrum Capital is short(XLB)
Kanundrum Capital is short the Euro
Kanundrum Capital is short the Pound
Kanundrum Capital is short the Swiss Franc
Kanundrum Capital owns (GLD)
Kanundrum Capital owns (GDX)
Kanundrum Capital owns (GDXJ)
Kanundrum Capital owns (AUY)
Kanundrum Capital owns (GFI)
Kanundrum Capital owns (TLT)
Kanundrum Capital owns U.S. dollars

For Chris Caso
Susquehanna makes a market in (BRCM)
Susquehanna makes a market in (INTC)
Susquehanna makes a market in (MCHP)
Susquehanna makes a market in (NVDA)
Susquehanna Financial and/or its affiliates beneficially own 1% or more of (MCHP)

Matt Simmons
***No Disclosures***

David Threlkeld
***No Disclosures***

Colin Gillis
***No Disclosures***

Scott Nations
***No Disclosures***

CNBC.com with wires

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