Burned by Cisco

A long position in Cisco looked like a hot trade but all it did was burn Tim Seymour. So what does he have to say about it now?

The Ambassador made the fateful call on November 11^th, after the stock sold off on disappointing commentary from CEO John Chambers. Seymour liked the stock as a bet on strong fundamentals.

“At these levels, this is not a stock I fear owning,” he said. “In fact if it tests 19 I might have to think about buying more.”

Unfortunately, few investors shared Seymour’s conviction that Cisco was a buy on sound fundamentals. Since he said to get long, shares have slipped almost 5%.

So what does Seymour have to say about this stock now? Find out in this web extra. Watch the video now!

______________________________________________________
Got something to to say? Send us an e-mail at [e-mail] and your comment might be posted on the Rapid Recap. If you'd prefer to make a comment but not have it published on our Web site send your e-mail to [e-mail].

Trader disclosure: On December 6, 2010, following stocks and commodities mentioned or intended to be mentioned on CNBC’s "Fast Money" were owned by the "Fast Money" traders; Seymour Owns (AAPL), (BX), (CSCO); Terranova Owns (OIH), (UPL), (C), (PEP), (VRTS), (AAPL), (GS), (OXY), (NKE), (CMA), (PFE); Terranova Owns (FCX), (FCX) Puts; Adami Owns (AGU), (C), (GS), (INTC), (BTU), (NUE), (MSFT)

For Joe Terranova
Terranova is Chief Market Strategist of Virtus Investment Partners, LTD
Virtus Investment Partners Owns More Than 1% Of (ABAX)
Virtus Investment Partners Owns More Than 1% Of (ALK)
Virtus Investment Partners Owns More Than 1% Of (AMKR)
Virtus Investment Partners Owns More Than 1% Of (CCG)
Virtus Investment Partners Owns More Than 1% Of (CASS)
Virtus Investment Partners Owns More Than 1% Of (CSVI)
Virtus Investment Partners Owns More Than 1% Of (EPR)
Virtus Investment Partners Owns More Than 1% Of (EXR)
Virtus Investment Partners Owns More Than 1% Of (FCFS)
Virtus Investment Partners Owns More Than 1% Of (IGE)
Virtus Investment Partners Owns More Than 1% Of (KRC)
Virtus Investment Partners Owns More Than 1% Of (LDR)
Virtus Investment Partners Owns More Than 1% Of (LPHI)
Virtus Investment Partners Owns More Than 1% Of (MGRC)
Virtus Investment Partners Owns More Than 1% Of (NRCI)
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 (XLE)
Virtus Investment Partners Owns More Than 1% Of (XLI)
Virtus Investment Partners Owns More Than 1% Of (XLK)
Virtus Investment Partners Owns More Than 1% Of (XLU)
Virtus Investment Partners Owns More Than 1% Of (SUBK)
Virtus Investment Partners Owns More Than 1% Of (WDFC)
Virtus Investment Partners Owns More Than 1% Of (YDNT)
Virtus Investment Partners Owns More Than 1% Of (CLB)
Virtus Investment Partners Owns More Than 1% Of (DRYS)


For Dennis Gartman
Accounts Managed By Gartman Are Long Australian Dollar
Accounts Managed By Gartman Are Short Euro
Accounts Managed By Gartman Are Short Yen
Accounts Managed By Gartman Are Long Gold


For Mike Khouw
Cantor Fitzgerald & Co. Is A Market Maker In (AAPL)
Cantor Fitzgerald & Co. Is A Market Maker In (AMD)
Cantor Fitzgerald & Co. Is A Market Maker In (AOL)
Cantor Fitzgerald & Co. Is A Market Maker In (APOL)
Cantor Fitzgerald & Co. Is A Market Maker In (BWLD)
Cantor Fitzgerald & Co. Is A Market Maker In (CMCSA)
Cantor Fitzgerald & Co. Is A Market Maker In (CMCSK)
Cantor Fitzgerald & Co. Is A Market Maker In (CVC)
Cantor Fitzgerald & Co. Is A Market Maker In (DF)
Cantor Fitzgerald & Co. Is A Market Maker In (FCX)
Cantor Fitzgerald & Co. Is A Market Maker In (FDX)
Cantor Fitzgerald & Co. Is A Market Maker In (GOOG)
Cantor Fitzgerald & Co. Is A Market Maker In (HRB)
Cantor Fitzgerald & Co. Is A Market Maker In (MCP)
Cantor Fitzgerald & Co. Is A Market Maker In (MEE)
Cantor Fitzgerald & Co. Is A Market Maker In (MSFT)
Cantor Fitzgerald & Co. Is A Market Maker In (NFLX)
Cantor Fitzgerald & Co. Is A Market Maker In (OSK)
Cantor Fitzgerald & Co. Is A Market Maker In (SD)
Cantor Fitzgerald & Co. Is A Market Maker In (SLV)
Cantor Fitzgerald & Co. Is A Market Maker In (UPS)
Cantor Fitzgerald & Co. Is A Market Maker In (X)
Cantor Fitzgerald & Co. Is A Market Maker In (YHOO)

For Brian Kelly
Accounts Managed By Kanundrum Capital Own (TBT)
Accounts Managed By Kanundrum Capital Own (GDXJ)
Accounts Managed By Kanundrum Capital Own (DRYS) Calls
Accounts Managed By Kanundrum Capital Own (RDC)
Accounts Managed By Kanundrum Capital Own (AAPL)
Accounts Managed By Kanundrum Capital Own (QCOM)
Accounts Managed By Kanundrum Capital Own (DE)
Accounts Managed By Kanundrum Capital Own (MON)
Accounts Managed By Kanundrum Capital Own (IPI)
Accounts Managed By Kanundrum Capital Own (POT) Calls

For Doug Kass
Seabreeze Partners Management Owns (MSFT), (MSFT) Calls
Seabreeze Partners Management Owns (YHOO), (YHOO) Calls
Funds Managed By Dennis Gartman Own (BPT)
Funds Managed By Dennis Gartman Are Short (DB)

For Vitaliy Katsenelson
Investment Management Associates Owns (LLL)
Investment Management Associates Owns (MDT)