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Burned by Halliburton

A long position in Halliburton looked like a hot trade but all it did was burn Tim Seymour.

The Ambassador made the fateful call on March 28th as a bet that geo-political concerns in the Mideast would drive exploration elsewhere in the world.

“People are spending more and more to go drilling for oil,” he said at the time. “Services and technology have never been more in demand. In fact, for every cent that they're losing in the Middle East, they're going to pick it up somewhere else.

As you know, since late March when Seymour made the call the price of oil continued to march higher but the price of Halliburton did not. Shares are down almost 5% since that time.

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



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Trader disclosure: On April 13, 2011, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s "Fast Money" were owned by the "Fast Money" traders; Weiss owns (COP); Weiss owns (DVN); Weiss owns (HK); Weiss owns (HPQ); Weiss owns (MSFT); Weiss owns (AKAM); Weiss owns (TBT); Weiss owns (GDX); Weiss owns (UUP); Weiss owns (DRR); Weiss owns (HBAN); Weiss owns (KEY); Weiss owns (QCOM); Weiss owns (BTU); Weiss is short (IWM); Weiss is short (X); Weiss is short (AKS); Weiss owns (AAPL) calls; Seymour owns (AAPL); Seymour owns (BHP); Seymour owns (F); Seymour owns (INTC); Adami owns (AGU); Adami owns (C); Adami owns (GS); Adami owns (MSFT); Adami owns (NUE); Adami owns (BTU); Finerman's Firm Is Short (IWM); Finerman's Firm Is Short (SPY); Finerman's Firm Is Short (IJR); Finerman's Firm Is Short (MDY); Finerman's Firm Is Long S&P 500 Puts; Finerman's Firm Is Long Russell 2000 Puts; Finerman's Firm And Finerman Own (AAPL); Finerman's Firm And Finerman Own (BP); Finerman Owns (C); Finerman's Firm And Finerman Own (CVS); Finerman's Firm Owns (HPQ); Finerman's Firm Owns (JPM) Leap, (JPM); Finerman Owns (JPM); Finerman's Firm And Finerman Own (MSFT); Finerman's Firm Owns (TGT); Finerman Owns (USO); Finerman's Firm Owns (WMT); Terranova Owns (JPM); Terranova Owns (V); Terranova Owns (BX); Terranova Owns (GS); Terranova Owns (UPL); Terranova Owns (AKAM); Terranova Owns (XOM); Terranova Owns (BAX); Terranova Owns (TCK); Terranova Owns (HOC); Terranova Owns (VRTS)

For Joe Terranova
Terranova is Chief Market Strategist of Virtus Investment Partners, LTD
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SOT 3/28/11 Tim Seymour Halliburton
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