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!
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.
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.
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."
Got something to to say? Send us an e-mail at firstname.lastname@example.org and your comment might be posted on the Rapid Recap. If you'd prefer to make a comment but not have it published on our website send your e-mail to .
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