The Fast Money Misfires – Friday January 23rd


Sometimes a stock is hot and other times it just burns. Following are trades that didn't end so well...

Guy Adami

On January 2nd the Negotiator made a call that he thought looked stylish and attractive. At the time he suggested longGap and said, “these guys were forced to be better operators. I like GPS.”

Adami might be a dapper guy but this trade was anything but well tailored for his portfolio. Shares of this stock are down about 14% since his long call.

What now? "I'm sorry, I was wrong, but at these levels Gap still looks interesting to me," he says.

Pete Najarian

On January 6th the Pit Boss recommended a plastics play for away from industrials. At the time he said, “I think Visa is cheap.”

Visa might be everywhere you want to be but this trade didn’t go anywhere. Shares are down 23% since Najarian’s buy call.

What now? "I still like this stock," he tells us.

Jeff Macke

On January 14th the Wolf exclaimed “Toyota! I love what you do for me.” Well, he didn’t use those words exactly but he did say “I'm long Toyota. I l like them.”

Unfortunately Macke isn’t going anywhere with this trade. Shares are trading unchanged although if you took some off the table a few days back, you would have turned a profit.

What now? "I stayed at the party way too long. I should have taken profits," says Macke.

Karen Finerman

On January 9th the Chairwoman took a fancy to a clothing store. At the time she recommend longAmerican Eagle , “for its great balance sheet.”

Fashion is fickle and so was this trade. Since her long call American Eagle is down 8%.

What now? "I'm still long this stock," she reveals.

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Trader disclosure: On Jan 23, 2009, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Macke Owns (MS), (BAC), (C), (TM), (MCD); Adami Owns (AGU), (C), (BTU), (GS), (INTC), (MSFT), (NUE); Najarian Owns (EEM) Call Spread; Najarian Owns (FCX) & (FCX) Short Calls; Najarian Owns (GLD) Call Spread; Najarian Owns (GE) Put Spread; Najarian Owns (MSFT) & (MSFT) Short Calls; Najarian Owns (MS) & (MS) Short Calls/Put Spread; Najarian Owns (GNW) Long Calls; Finerman's Firm Owns (DNA) & (DNA) Call Spread; Finerman's Firm Owns (MSFT), (TBT), (UNH), (V); Finerman's Firm Is Short (IYR), (IJR), (IWM), (MDY), (SPY), (ANF), (COF), (USO); Finerman's Firm Owns (ROH) Calls