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The Fast Money Misfires – Friday April 17th

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

Tim Seymour

On April 9th the Ambassador recommended an oil play to heat up your portfolio. “Petrobras is a name that keeps giving you something to be excited about,” he said at the time.

But Seymour’s trade hardly hit pay dirt. Shares of Petrobras are down 4% since his long call.

Not to worry, Seymour's spirit isn't broken. He still thinks Petrobras is one of the best oil companies in the world and says he'd still be in it for the long term.

Pete Najarian

On April 13th the Pit Boss suggested a bullish play on Freeport McMoRan due to options activity. He said, “Take a look at FCX, absolutely incredible. And it looks like big investors are coming for even more.”

But the options action lead Najarian in the wrong direction. Shares of Freeport are down 4% since his buy recommendation.

Najarian is undeterred; he still likes FCX. "If copper breaks out then watch out for Freeport McMoRan," Najarian exclaims.

Joe Terranova

On April 7th the Liquidator turned his back on Applied Material and said, “They lost a solar contract; stay away.”

Unfortunately Terranova didn’t anticipate just how much power the microchip maker had -- in its stock! AMAT is up 11% since Terranova said walk way.

Ouch!



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Trader disclosure: On Apr 17th, 2009, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Seymour Owns (AAPL), (BAC), (EEM), (FCX), (GE), (RIG), (TCK); Karabell Owns (AAPL), (CSCO), (CAT), (FCX), (FXI), (FIC), (GOOG), (JPM); Najarian Owns (BX) Call Spread; Najarian Owns (INTC) Call Spread; Najarian Owns (MCD) & (MCD) Calls; Najarian Owns (PALM); Najarian Owns (RIO) Calls; Najarian owns (VAR) Call Spread; Najarian Owns (XHB) Call Spread; Najarian Owns (PCU) Calls; Terranova Owns (AMGN), (DELL), (IBM), (BP), (MS); Terranova Owns (X) & (X) Calls; Terranova Owns (DIS) Calls; Terranova Owns (COP) Calls; Terranova Owns (HES) & (HES) Calls; Terranova Owns (JPM) & (JPM) Calls; Terranova Owns (INTC) & (INTC) Calls; Terranova Owns (XOM) & (XOM) Calls; Terranova Owns (WYNN) & (WYNN) Calls