When CNBC Contributor and Senior MarketWatch columnist Herb Greenberg is in the house – expect a “Street Fight.”
Of course, Herb and the guys are friends – but they’re also what you might call competitive. And nothing brings Herb more satisfaction than attempting to take the traders down.
Round 1: Pete Najarian
First, Herb takes aim at “The Pit Boss because he recommended buying Micron (MU) on June 28th. At the time Pete said, “The fact is that the chips are on fire (and) Micron’s going to run right along with them. Even with this bad report Microns up on a very bad report today."
Today Herb argues that all the chips were up Thursday but Micron was down. He thinks when chip supply increases significantly Micron will struggle. Herb feels there’s nothing for Micron that will be sustainable.
Pete tells Herb that 3 analysts say MU is phenomenal and that they have a lot of pricing power. He adds as the PC’s go, so go the chip-makers.
Dylan Ratigan says it’s a tough call but the history of chips in the second half is strong and Dylan rules for Pete.
Herb calls an “official challenge” and the decision goes to the other guys on the panel.
No one is really sure who wins this one.
Round 2: Jeff Macke
Next Herb rips The Lone Wolf because he recommended buying Jones Soda (JSDA) on July 10th. At the time Jeff said, “I like them again."
For the first time, Jeff Macke can’t put up a fight. He simply concedes because he can’t find a bottle of Jones Soda anywhere in NYC.
Herb accepts victory, graciously.
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Trader disclosure: On July 12th 2007, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders Macke Owns (EMC), (SWY), (JWN); Bolling Owns (MPEL), (ICE), (NMX), Gold, GE Is The Parent Company Of CNBC