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Fast Money

Burned By Applied Materials, Home Depot & More!

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They looked like hot stocks; so how are the Fast Money traders playing Applied Materials, Home Depot and other losers, now that they've been burned!

Pete Najarian

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On May 11th the Pit Boss was led astray by options action in Applied Materials. At the time he said, “there’s a lot of put buying that’s been going on -- probably not as speculation but protection. There could be more upside.

Turns out, Najarian got his signals crossed. Since he forecast upside the stock slid 9% lower. What does Najarian have to say for himself?

"I was wrong," he sobs.

Joe Terranova

Ahead of earnings, the Liquidator suggested building a position in a home builder. At the time he said, “I see a $30 price target. Home Depot is a buy.

Turns out Terranova’s trade didn’t have a great foundation. Shares of Home Depot have crumbled about 10% since earnings. What does Terranova have to say for himself?

"I was also wrong, I'm sorry," he says.

Tim Seymour

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Earlier this month the Ambassador suggested going overseas for an auto play. At the time he said, “Toyota looks like it could run.

But if you took a long position on May 7th then this trade was plain out of gas. Since that time, shares of Toyota have tumbled about 9%. What does Seymour have to say for himself?

"It's an export story. If the yen continues to strengthen it's going to be a problem for Toyota," he explains. "However if the yen gets weaker I like the stock."


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Trader disclosure: On May 22nd, 2009, 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 (AAPL), (BBT), (EEM), (FLR), (TTM), (INFY); Seymour is Short (FCX); Terranova Owns (ABI), (JOYG), (XBI), (TER); Terranova Owns (DIS) Call Spreads; Terranova Owns Oil Futures; Terranova Owns Nat Gas Futures; Terranova Owns (DIS) Calls; Terranova Owns June Gold Futures; Grasso Owns (AMZN), (RIMM), (V); Grasso's Clients Own (AMZN), (PG), (X), (MA), (VA), (ALL), (AMP), (JPM), (WFC), (SUN), (PBR), (POT), (MOS), (MSFT), (IBM), (XLE); Najarian Owns (ISIS), (BCSI); Najarian Owns (APC) Call Spread; Najarian Owns (AMD) Calls; Najarian Owns (BX) Calls; Najarian Owns (INTC) Calls; Najarian Owns (PALM) Call Spread; Najarian Owns (MOS) Call Spread; Najarian Owns (XHB) Call Spread; Najarian Owns (XLB) Call Spread; Najarian Owns (XLU) Call Spread