Burned By Nat Gas

Rotating into nat gas seemed like a hot trade but all it did was burn. So how is Joe Terranova playing it now?

The Liquidator made the fateful call on October 5^th on the premise that moves in this commodity were seasonal and the calendar was turning in favor of the bulls.

“I actually think that it's time that you give consideration to the natural gas trade. I absolutely do,” he said.

Unfortunately, there are still vast supplies of nat gas in storage and that’s trumped the seasonality of this trade. The ETF that tracks nat gas is down over 10% since Terranova said to get long.

So what does he have to say about this trade now?

Find out in this web extra. Watch the video now!

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Trader disclosure: On Oct. 21, 2010, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Cortes owns (K); Cortes owns (TSN); Cortes is short crude oil; Cortes is short gold; Cortes is short (RSX); Cortes is short the U.K. Pound; Cortes owns U.S. Treasuries; Cortes owns the S&P 500; Terranova owns (APA), (AAPL), (AXP), (C), (CRM), (GOOG), (GS), (FCX), (MMM), (ORCL), (PCP), (PEP), (PFE), (TBT), (UPL), (VRTS), (XBI); Adami owns (AGU), (BTU), (NUE), (C), (GS), (INTC), (MSFT); Adami’s wife works at Merck; Weiss owns (AAPL); Weiss owns (QCOM); Weiss owns (PWER); Weiss owns (VZ); Weiss owns (CSX)

For Joe Terranova
Terranova is chief market strategist of Virtus Investment Partners, LTD.
Virtus Investment Partners own more than 1% of (ABAX)
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For Brian Kelly
Accounts managed by Kanundrum Capital own (REE)
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Accounts managed by Kanundrum Capital own (ANDE)
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Accounts managed by Kanundrum Capital own Swiss Francs
Accounts managed by Kanundrum Capital are short the U.K. Pound

For Dan Niles
Niles and Alpha One own (AAPL), (QCOM), (DELL), (PWER)

For Anthony Scaramucci
***No Disclosures***

For Brian Stutland
***No Disclosures***