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The Fast Money Misfires - Friday August 1st

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

Jeff Macke

On July 7th the Lone Wolf thought the best way to play retail was to buy in bulk. At the time he said, "Stick with boring and stick best of breed when it comes to retailers. I think the consumer remains dead and I think they'll have to go to Costco to the extent they go anywhere."

But those ultra large containers of chocolate covered raisins do not a trade make. Since his said to get long shares sunk 16%.

I’m still keeping it, but on a short leash, says Macke.

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Karen Finerman

On July 16th the Chairwoman charged forward with a credit card play.

At the time she said, "Right now American Express is trading at a PE multiple of 12. For them it’s historically very low. Its one of the world premier brand names and Warren Buffett owns it. I like it."

Looks like Finerman should have left home with out it. Since her long recommendation shares of American Express have dropped 11%.

I was too early, she says on Friday's show. My mistake.

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Guy Adami

On July 30th the Negotiator also recommended putting a little plastic in your portfolio.

At the time he said, "EPS was good, revenues were good, transaction rates were good, It's all good, it should bode well for Mastercard ."

Unfortunately, it’s time to pay the piper. Since Adami said to get long shares are down 13%.

I still think the story is in tact, says Guy Adami. I’d buy it around $230.

* In case you're wondering Tim Seymour gets a pass.

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On Aug 1, 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), (GS), (INTC), (MSFT), (NUE), (BTU); Macke Owns (COST), (MSFT), (EMC), (WMT); Finerman Owns (GS); Finerman's Firm Owns (MSFT), (SUN), (TSO), (VLO), (RIG); Finerman's Firm And Finerman Own (C) Leaps; Finerman's Firm Is Short (XLF), (BBT), (COF), (IYR), (IJR), (MDY), (SPY), (IWM); Seymour Owns (AAPL), (CSCO), (F), (INTC), (MER), (MSFT); Seygem Asset Management Is Short (FXI), (VIP)

Finerman's Firm Owned (AXP) On 7/16/08
Seygem Asset Management Owned (VIP) On 7/15/08
Finerman Owned (WM) On 7/24/08
Seygem Asset Management Owned (EEM) On 7/2/08