Adami: With Best Buy at a 52-Week Low, Hold Nose and Buy

Best Buy landed on the trader radar with the stock slipping to a new 52-week low after the retailer said earnings came in below expectations. Best Buy also cut its 2011 forecast.

How should you trade it?

Guy Adami thinks at such low levels Best Buy has become attractive - but only as a trade. “I’m not saying it can’t go lower, but if you're a trader it’s interesting here. It feels like a kitchen sink kind of moment,” he says.

Joe Terranova agrees. “Around $22 - this is the level where I’d also own it," he says, "but I’d only do it with put protection."

Tim Seymour, however, just can’t get on board. “Consumers are just too weak,for electronics retailers to really thrive," he says.




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Trader disclosure: On Sep 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; Seymour owns Apple (AAPL); Seymour owns Bank of America (BAC); Seymour owns Intel (INTC); Adami Owns (AGU); Adami Owns (MSFT); Adami Owns (NUE); Adami Owns (BTU); Adami Owns (C); Adami Owns (GS); Adami Owns (INTC); Finerman and Finerman’s firm own (AAPL); Finerman owns (BAC) and Finerman’s firm own (BAC) leaps; Finerman owns Microsoft (MSFT); Finerman owns Google (GOOG); Finerman owns JPMorgan (JPM) calls, puts and stock; Finerman owns Oracle (ORCL); Finerman’s firm owns Collective Brands (PSS); Finerman’s firm owns JPMorgan (JPM) puts; Finerman’s firm owns (CMI); Finerman’s firm owns Microsoft (MSFT); Finerman’s firm owns IBM (IBM); Finerman’s firm owns S&P 500 puts; Finerman’s firm owns IWM; Finerman’s firm owns MDY; Finerman’s firm owns SPY; Terranova owns (XOM); Terranova owns (DIS); Terranova owns (WFM); Terranova owns (LULU); Terranova owns (MSFT); Terranova owns (TM); Terranova owns (JWN); Terranova owns (ORCL); Terranova owns (PEP); Terranova owns (MA); Terranova owns (BX); Terranova owns (GS); Terranova owns (DAR); Terranova owns (CAT); Terranova owns (VRTS); Terranova owns (AAPL); Terranova owns (CAT); Terranova owns (CVI); Terranova owns (IBM); Terranova owns (FCX)

For Joe Terranova
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For Jim Iurio
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For Mike Murphy
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