The Fast Money Misfires - Friday March 27th


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

Tim Seymour

On March 10th the Ambassador took a sledge hammer to the housing sector and said, “I’d be a seller.”

Well, that trade left Seymour out in the cold. The homebuilders ETF is up 23% after the government released a string of positive economic data.

But Seymour isn't throwing in the towel on this trade. Despite the move higher he reiterates, "I'd still stay away."

Guy Adami

On March 19th the Negotiator thought Abbott Labs was the prescription for profits and said, “Look at Abbott - look at their diversification - look at where their patents end. You've got to be long Abbott.”

You'd think Adami would be sick to his stomach over that trade; the stock is down 4% since his call. However he's not sick at all - he's sticking with it. "Abbott doesn't lose patents until 2017. It sets up well if you want to play Pharma."

Karen Finerman

On March 9th the Chairwoman thought shorting Treasuries was like money in the bank. She recommended playing it by getting long the TBT -- a double short ETF. At the time she said, “I'm thinking there's a lot of supply of Treasuries coming on the market this week alone. So I'm staying long.”

Finerman’s trade didn't quite cash out. Since her long call the TBT is down 4%. However, Finerman says "This trade isn't over. I still think the TBT goes much higher."

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Trader disclosure: On Mar. 27th, 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 (AAPL), (POT), (WMT), (SDS), (GE), (GS); Macke Is Short (BRK.B); Adami Owns (AGU), (BTU), (C), (GS), (INTC), (MSFT), (NUE); Seymour Owns (AAPL), (BAC), (FXI), (EEM), (TTM), (RIO), (TSO), (WFC); Finerman's Firm Is Short (IJR), (MDY), (SPY), (USO), (IWM); Finerman's Firm Owns (BAC) Preferred; Finerman's Firm Owns (MSFT); Finerman's Firm Owns (WFC) Preferred; Finerman's Firm Is Short (BPO)