The Fast Money Misfires – Friday August 15th


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

Guy Adami

On Tuesday the Negotiator was cautious going into Cisco earnings and said not to buy those shares. But this tech trade did anything but short circuit! Shares have climbed 10% after a better than expected forecast.

That was dumb, Adami tells the traders. I was terrified that CEO John Chambers would says something that would scare investors.

Joe Terranova

Last Wednesday, the Liquidator said to buy American and get long US Steel. Unfortunately the steel powerhouse has been somewhat underwhelming, lately. Since Terranova said to get long the stock is down 8%.

It was bad market timing, Terranova says. It was a bad point of entry but longer term I still like the play.

Pete Najarian

On July 30th the Pit Boss picked some coal out of his stocking and recommended Massey as a buy. But the commodities train had already pulled out of the station and share are down 23% since then.

Coal has broken my heart, Pete Najarian says. This is a lesson in exit strategies. If you go into commodities make sure you have one.

Karen Finerman

Last Friday the Chairwoman thought a company was too ‘90’s; she recommended getting short LDK because “solar stocks had 'dot com' era valuations.” But after earnings surged past expectations on Tuesday, shares surged 26%.

I should not have been that cavalier, says Karen Finerman But I would not be long. This will end badly.

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Trader disclosure: On Aug 15, 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), (BTU), (MSFT), (NUE); Najarian Owns (AAPL) And Is Short (AAPL) Calls; Najarian Owns (CSCO) Calls, (NVDA) Calls: Najarian Owns (HCBK) Puts; Finerman Owns (GS); Finerman's Firm Owns (JCP), (MO), (NOK), (SUN), (TSO), (VLO); Finerman's Firm And Finerman Own (GLNG); Finerman's Firm And Finerman Own (C) Leaps
Finerman's Firm Is Short British Pounds; Finerman's Firm Is Short (XLF), (BBT), (COF), (SPG), (IYR), (IJR), (MDY), (SPY), (IWM)

Terranova Owns (RIMM), (AAPL), (IYT), (XLF), (KOL), (VLO), (SA), (GS), (POT), (FCX), (NOV), (X), (EOG), (INTC), (GOOG), (CME), (BNI), (SA), (YHOO), (SU); Terranova Is Short Crude Oil Time Spread (Short Dec. 2008, Long Dec. 2012); Terranova is Long Crude Oil (Dec. 2012)

Terranova Is Chief Alternatives Strategist Of Phoenix Investment Partners, Ltd.; Phoenix Investment Partners Owns More Than 1% Of (ABD), (ARE), (BRE), (CNTY), (CLB), (OFC), (DLR), (ESS), (EXR), (FL), (IAT), (IGE), (LNET), (MAC), (OIIM), (PSPT), (DBC), (DBV), (SLB), (SKT), (BLV)

Terranova Is Co-Portfolio Manager Of The Phoenix Diversifier PHOLIO; Phoenix Diversifier PHOLIO Owns (IGE), (DBC), (DBV)