The Fast Money Misfires – Friday June 20th


Sometimes a stock is hot and other time it just burns. Following are the Fast Money misfires.

Pete Najarian

On June 9th the Pit Boss took a shine to a metals play. At the time he said, "There was some unbelievable option activity in Titanium Metalstoday. This is a stock that has been taken out to the woodshed, but I think its probably at the level where you can buy it and be very comfortable.

Unfortunately not all the glitters is good. Since his buy recommendation shares of TIE have dropped 13%

I think it’s time to pull the plug on this one, Najarian says now.

Guy Adami

On June 16th the Negotiator suggested putting money in the bank. At the time he said, “I think for a trade you can own Morgan Stanley around the $42 level with a stop out below $40, I think it has some giddy-up back up to $50.”

Hope you stopped out. Since he recommended this trade shares of Morgan Stanley have slipped 8%.

Fonzi couldn’t say I’m sorry but I can. I was wrong and I’m sorry, admits Adami.

Jeff Macke

On June 4th the Lone Wolf recommended betting on the Mouse House. At the time he said, I like Disney for the upfront ad sales (on ESPN) for the NBA finals, you've got some bets on that."

Looks like the trade turned goofy. Since his buy recommendation Disney dropped 5%.

I’m not selling my stake, Jeff Macke now says. At least not yet.

QuInt Tatro

On May 19th Tatro charted a new course for Corning . At the time he said, "It just broke out of it's trend line after an excellent earnings report, traders can still buy this stock, raising their stop to $22."

Unfortunately the glass maker led to a broken trade. Shares are down 9%.

It’s a great company and I’m still long, says Tatro. However, I’ve raised my stop top $24.50.

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Trader disclosure: On June 20, 2008, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Adami Owns (AGU), (C), (BTU), (GS), (INTC), (MSFT), (NUE); Macke Owns (INTC), (MSFT), (WMT), (DIS); Najarian Owns (AAPL), (BHI), (CHK), (ENER), (NOK), (TSO), (XLF), (HPQ); Najarian Owns (MER) Puts; Najarian Owns (MYGN) Calls, (SD) Calls; Najarian Owns (HRB) Puts; Quint Tatro Is The Principal Of Tatro Capital; Tatro Owns (C), (DV), (PETS), (STRA), (ESLR), (GLD), (GLW), (GS), (QQQQ), (RIMM), (SDS); Tatro Capital Owns (SLV), (ASTI); Tatro Capital Owns (USO) Puts

Macke Owned (DIS) On 6/4/08, 6/10/08; Tatro Owned (GLW) On 5/19/08