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.
