Sometimes a stock is hot and other times it just burns you. Following are trades that didn’t end so well.
On March 26th the Wolf expected an ag stock to grow profits and told the desk, “I'm long Potash and I bought some more today at the slightest hint of a dip because I think those stocks are just absurdly strong.”
Unfortunately this trade did nothing but wilt. Since his long call, the stock is down 5%.
Believe it or not Macke can be contrite. "My bad. I'm sorry," he said to the desk on Friday's show.
On March 30th, the Chairwoman suspected an auto play had run out of gas and told the desk, “I have a short position in Borg Warner because I'm bearish on all the autos right now.”
Unfortunately the Chairwoman didn’t quite see how things would play out down the road. Since her short call the stock climbed 15% higher.
Finerman recognized the error and told us, "it's wrong to be short a good company."
On March 16th the Liquidator suggested oil’s march higher was coming to a standstill and said, “Avoid the United States Oil Fund, I don't think that's your play considering the USO is already up 8%.”
But oil bulls have continued to run with the USO climbing another 8% since Terranova’s short call.
You might be surprised to hear that Terranova has no regrets. "I still don't like the USO," he told the desk.
About a month ago the Ambassador got all fired up over nat gas and said, “I think natural gas looks interesting and the United States Natural Gas Fund ETF is a great name to own.”
Sadly, since Seymour’s long call nat gas has run out of steam with the UNG down 13% since March 4th.
However, Seymour still thinks there's upside in the commodity and he's holding onto this trade.
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Trader disclosure: On Apr 3rd, 2009, 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 (WFC), (AAPL), (GE), (GS), (MOS); Seymour Owns (AAPL), (AA), (EEM), (FCX), (FXI); Finerman Owns (BAC) Preferred; Finerman's Firm Owns (MSFT), (RIG); Finerman's Firm Owns (WFC) Preferred, (BAC) Preferred; Finerman's Firm Is Short (IJR), (MDY), (SPY), (USO), (IWM), (BAC), (BBT), (WFC); Terranova Owns (JOYG), (X), (IBM), (XOM), (HES), (POT), (DIS), (DELL), (JPM), (INTC), (BP); Terranova Owns (COP) Calls; Terranova Owns (BRCM) & (BRCM) Calls; Terranova Owns (WYNN) & (WYNN) Calls; Terranova Owns (AMGN) & (AMGN) Puts