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Trade Update: Jeff Macke's Specialty Pick

In this feature the guys revisit recent trades. Here's what Jeff Macke is saying today about one of his past picks in specialty retail.

On Friday May 25th The Lone Wolf said “The trade of the week next week (will be) Coldwater Creek (CWTR). Tuesday afternoon they report…excitement is picking up; expectations are low; this is a recipe for a good trade.”

Macke was spot on with the trade. Shares are soaring – up 10% after hours -- as quarterly earnings beat estimates.

Jeff Macke thinks the stock is going higher. He explains CWTR went through a fashion misstep and now they’re firing on all cylinders. However, Jeff adds don’t chase the stock. Buy the dips.

Trade Update

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Trader disclosure: On May 24, 2007, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders:
Najarian Owns (CLF), (EMC), (INSP), (KR); Bolling Owns (ICE),(NMX), Gold, Silver
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