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Web Extra: Burned By Nvidia

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

The Negotiator made the fateful call on February 17th as a bet the stock was attractive on pullbacks.

”Stretched on valuation? No doubt. Does it make sense? I think it does,” he said at the time.

”Do you have to go buy it tomorrow? No, I think you'll get the pullbacks. But these are the stories that have worked and I think will continue to work,” he also said.

Although Adami did not say how much of a pullback to wait for, we’re sure he wasn’t looking for 20%. That’s how sharply the stock has declined since his mostly bullish call.

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






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Trader disclosure: On March 8, 2011, the 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); Seymour owns (BAC); Seymour owns (F); Seymour owns (GE); Seymour's firm is short (FCX); Seymour's firm is short (POT); Seymour owns (IIF); Adami Owns (AGU); Adami Owns (C); Adami Owns (GS); Adami Owns (INTC); Adami Owns (MSFT); Adami Owns (NUE); Adami Owns (BTU); Adami's wife works for (MRK); Finerman's Firm Is Short (IWM); Finerman's Firm Is Short (SPY); Finerman's Firm Is Short (MDY); Finerman's Firm is short (XRT); Finerman's Firm is short (IJR); Finerman's Firm Is Long S&P Puts; Finerman's Firm Is Long Russell 2000 Puts; Finerman's Firm And Finerman Own (AAPL); Finerman's Firm Owns (BAC) Leap, Finerman Owns (BAC); Finerman's Firm Owns (BBY); Finerman's Firm And Finerman Own (BP); Finerman owns (C); Finerman's firm owns (FDO); Finerman owns (GM) leaps; Finerman Owns (GOOG); Finerman's Firm And Finerman Own (HPQ); Finerman's Firm Owns (IBM); Finerman's Firm Owns (JPM), (JPM) Leap; Finerman Owns (JPM); Finerman's firm owns (M); Finerman's Firm And Finerman Own (MSFT); Finerman's firm owns (TGT); Finerman's Firm Owns (WMT); Terranova owns (VRTS); Terranova owns (C); Terranova owns (UPL); Terranova owns (ABT); Terranova owns (MS); Terranova owns (PBR); Terranova owns (BAX); Terranova owns (TEVA); Terranova owns (CVI); Terranova owns (RSX); Terranova owns (SU); Terranova owns (CNQ); Terranova owns (JPM); Terranova owns (PNC); Terranova owns (GS); Terranova owns (USB)

For Joe Terranova
Virtus Investment Partners Owns More Than 1% Of (ABAX)
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For Michael Olson
(ROVI) has been an investment banking client of Piper Jaffray's during the past 12 months
Piper Jaffray has done underwriting for (ROVI)
Piper Jaffray is a market maker in (NFLX), (AAPL), (AKAM), (PCLN), (ROVI)

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For Fast Fire/Guy Adami
Adami had no disclosure in (NVDA) on 2/17/2011

For Gerard Cassidy SOT
A member company of RBC Capital Markets or one of its affiliates managed a public offering of (JPM)
A member company of RBC Capital Markets or one of its affiliates received compensation for investment banking services from (JPM) in last twelve months
RBC Capital Markets currently provides (JPM) with non-investment banking securities-related securities
RBC Capital Markets provides non-securities services to (JPM)
RBC Capital Markets has provided (JPM) investment banking services in past 12 months

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