Burned by Precision Cast Parts

A long position in Precision Cast Parts looked like a hot trade but all it did was burn. So how is Guy Adami playing this stock now?

The Negotiator made the fateful call on November 5^th as a bullish bet on the airlines.

“You want to go down stream,” he said. “If there's any weakness in a name like Precision Cast Parts which made a new 52-week high today I think you buy PCP.”

Well, if you were waiting for a pullback to buy, you certainly got your opportunity. Over the last two weeks shares dropped over 5%.

So how does Adami recommend playing this stock now? Find out in this web extra. Watch the video now!

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Trader disclosure: On November 19, 2010, the day this video was recorded, following stocks and commodities mentioned or intended to be mentioned on CNBC’s "Fast Money" were owned by the "Fast Money" traders; Terranova owns (UPL), (C), (CRM), (PEP), (VRTS), (OXY), (GS), (POT), (AAPL), (ORCL), (MCD), (NKE), (IBM); Adami owns (AGU), (BTU), (NUE), (C), (GS), (INTC), (MSFT); Adami’s wife works at Merck; Grasso owns (ASTM), (BA), (BAC), (BWC), (C), (CSCO), (JPM), (LPX), (MOT), (MHY), (NDAQ), (PFE), (PRST), (X); Weiss owns (JWN), (MEE), (UA), (UUP)

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