The Fast Money Misfires – Friday August 29th


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

Joe Terranova

On August 15th the Liquidator thought a supermarket play looked rather tasty. At the time he recommended getting long Kroger . Unfortunately, the trade wasn’t terribly palatable. Since his call shares are down 8%.

I’m sticking with the trade, says Terranova. Food expenditures continue to rise and I like this company’s business model.

Karen Finerman

On August 18th the Chairwoman was all fired up over Golar LNG , which is involved in liquefied natural gas. Turns out this energy trade ran out of steam. Shares slid 9% since her call.

I don’t think I’ve made a mistake, says Finerman. It’s a long term hold and I recommend sticking with it.

Zach Karabell

Back on June 20th the Academic couldn’t stop talking about the upside to wireless phone giant China Mobile . Hopefully you didn’t listen. Since his buy recommendation shares are 18% lower.

I’d stay with this story, Karabell counsels.

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Trader disclosure: On Aug 29, 2008, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders;Karabell Owns (AAPL), (BHP), (CHL), (GLD), (GOOG), (JPM), (NOK), (SLB); Najarian Owns (LEH) Puts Spread; Najarian Owns (RIMM) Call Spread; Najarian Owns (WFC) Call Spread
Najarian Owns (MS) And Is Short (MS) Call; Najarian Owns (NOK) And Is Short (NOK) Call; Finerman Owns (GS); Finerman's Firm Owns (MSFT), (NOK), (SUN), (TSO), (VLO); Finerman's Firm And Finerman Own (C) Leaps; Finerman's Firm And Finerman Own (GLNG); Finerman's Firm Is Short (IYR), (IWM), (MDY), (SPY), (IJR), (BBT), (COF); Terranova Owns (NOV), (KOL), (X), (GS), (SA), (VLO), (RIMM), (AAPL), (EOG); Terranova Owns (POT); Terranova Owns (FCX)
Terranova Owns (AIG) Puts; Terranova Is Long Dec. 2008 Reformulated Gasoline Crack Futures

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)