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Web Extra: Burned by Banco Santander

It looked like a hot trade but all it did was burn. So how is Brian Kelly playing Banco Santander, now?

BK made the fateful call on October 5th identifying this overseas bank as one of Europe’s best – in a sector that’s been riddled with challenges.

At the time he said, “I look to a bank like Santander. That’s a name I wanna’ be in.”

Well, this Madrid-based bank may be a long-term winner, but in the short term shares of Banco Santander dropped about 7%.

So what does Kelly have to say about this stock now?




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Trader disclosure: On November 4, 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 is short (AAPL); Cortes owns (GOOG); Cortes owns (K); Cortes owns (TSN); Cortes owns (CLX); Cortes owns U.S. Treasuries; Cortes owns U.S. Dollars; Adami owns (AGU), (BTU), (NUE), (C), (GS), (INTC), (MSFT); Adami’s wife works at Merck; Finerman's Firm Is Short (IJR); Finerman's Firm Is Short (MDY); Finerman's Firm Is Short (SPY); Finerman's Firm Is Short (IWM); Finerman's Firm Is Long Russell 2000 Puts; Finerman's Firm Is Long S&P 500 Puts; Finerman Owns (AAPL); Finerman's Firm And Finerman Own (BAC); Finerman's Firm Owns (CMI); Finerman's Firm Owns (M); Finerman's Firm Owns (MCD); Finerman's Firm Owns (SKS); Finerman's Firm Owns (HAIN); Finerman's Firm Owns (YUM)

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Accounts managed by Kanundrum Capital own Euros
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Accounts managed by Kanundrum Capital are short Japanese Yen

For Patty Edwards
Edwards owns (BRK.B) for clients
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For Brian Stutland
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