Sometimes a stock is hot and other time it just burns. Following are the Fast Money misfires.
Last week on April 1st the Negotiator expected to see some upside in a transport name. At the time he said, "I like Fed Ex . On March 20th they announced earnings and guided lower, but the stock is up 12%. What does that mean? Yes, bad news is out there, but the stocks have discounted it."
Maybe you shouldn’t call Adami when you absolutely, positively need a trade overnight. After competitor UPS lowered its outlook, FedEx fell in sympathy.
I got ahead of myself, says Guy Adami, but I do think FedEx could outperform in the second half of ’08.
Last Monday on March 31st the Lone Wolf went for this hen house stock. At the time he said, "You fund managers long Cal-Maine learned a very cruel lesson about not counting your chickens before they're hatched into the end of their quarter. I think you build a position."
Unfortunately, it looks like Macke’s goose is cooked on this trade. After he said to buy on the dip, Cal-Maine shares are down.
The story has cracked and gone rotten, Macke now says. You should no longer be long this egg maker.
On Wednesday April 9th the Ambassador recommended betting against a foreign steel name. At the time he said, "Mechel Steel, we've talked about it, really a mining coking coal play, one of the largest, the largest in Russia, who's got a ton of it. Short it and buy it back at 130."
Looks like you’ll need nerves of steel for this trade. Shares ripped higher, up 6% the very next day after Seymour’s short call.
The stock is up 40% in the last month, explains Seymour. I still think it will go to $130 before it goes to $155.