Sometimes a stock is hot and other time it just burns. Following are the Fast Money misfires.
On June 30th the Chairwoman thought she’s found a 4-star trade. At the time she said, “I’m looking at Macarthur (MACDF) . This is an Australian company. Posco owns a stake; I don’t own a stake yet but I hope to when the market opens.”
This bad trade just faded away like an old soldier. Since Finerman’s buy recommendation shares of Macarthur dropped by 10%.
I think it’s still interesting, says Karen. I’m a little spooked by the coal sell-off but I’m staying with my trade.
On July 1st the Pit Boss thought he’d power his portfolio with an energy trade. At the time he said, “I still think you can own ConocoPhillips regardless of the price. I like their exposure in natural gas.
Since Najarian recommended ConocoPhillips shares have plunged 12%, with nat gas following oil lower.
I got liquidated, says Pete. That’s all I can say.
On July 8th the Liquidator sought profits with a search trade. At the time he said, “I like Google and I own Google.”
Unfortunately this trade just didn’t click. Since his call to get long shares of Google are down almost 10% due largely to customers clicking less frequently on ads.
Goldman has a $650 price target on the stock, Joe says, so I'm sticking with it for now.
On July 15th the Lone Wolf made some rather crude remarks. At the time he said, “Oil didn't really fall off a cliff, I'm long the USO .”
Since Macke said to get long oil, futures contracts have descended down a slippery slope. Since his call the USO dropped 6%.
It broke the trendline and I sold, says Jeff. Get out.