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Web Extra: Burned by Netgear

A long position in Netgear looked like a hot trade but all it did was burn Joe Terranova. So what does he have to say about the stock now?

The Liquidator made the fateful call on January 6th as a derivative bet on ‘king content.’

”Previously people had to go to content. Now, the content comes to you,” he said at the time. “And how does it do that? It does that through WiFi connectivity. And Netgear wins to that. I love the stock here.”

Netgear may keep Terranova’s laptop connected to the web but it didn’t keep his portfolio connected to profits. Since he suggested a long position shares are down around 9%.

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



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Trader disclosure: On March 24, 2011, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s "Fast Money" were owned by the "Fast Money" traders; Guy Adami is Long (AGU); Guy Adami is Long (MSFT); Guy Adami is Long (C); Guy Adami is Long (INTC); Guy Adami is Long (NUE); Guy Adami is Long (GS); Guy Adami is Long (BTU); Steve Cortes is Long (TM)p; Steve Cortes is Long (EXC); Steve Cortes is Long (GS); Steve Cortes is Long (SO); Steve Cortes is Short (F); Steve Cortes is Short (BAC); Steve Cortes is Short (DBA); Steve Cortes is Short Natural Gas; Steve Cortes is Short Silver; Steve Cortes is Short Wheat; Steve Cortes is Short Corn; Steve Cortes is Short Beans; Steve Cortes is Short Japanese Yen; Joe Terranova is Long (C); Joe Terranova is Long (VRTS); Joe Terranova is Long (GS); Joe Terranova is Long (JPM); Joe Terranova is Long (UPL); Joe Terranova is Long (MS); Joe Terranova is Long (PBR); Joe Terranova is Long (BAX); Joe Terranova is Long (TEVA); Joe Terranova is Long (IBM); Joe Terranova is Long (BTU); Joe Terranova is Long (POT); Joe Terranova is Long (XOM); Joe Terranova is Long (DIS); Joe Terranova is Long (RSX); Joe Terranova is Long (CNQ); Joe Terranova is Long (CNX) Puts; Tim Seymour is Long (AGU); Tim Seymour is Long (BAC); Tim Seymour's Firm is Long (POT)

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