×

Burned By Sprint, Tesoro & More

graphic_fast_fire.jpg

They looked like hot stocks. So how are the Fast Money traders playing Sprint, Tesoro and other stocks now that they’ve been burned?

Pete Najarian

Symbol
Price
 
Change
%Change
S
---

On June 15th the Pit Boss thought a long position in Sprint would go the distance. At the time he said, “You've got to love what's been going on with that stock lately. You've got the Palm 3, you've got all of the different devices that they're selling on top of that. I love Sprint.”

Looks like this runner stumbled. Since Najarian said he was a buyer shares of Sprint have slipped 12%. So what does he have to say for himself, now?

I don't love Sprint that much anymore, says Najarian. It's been a heart-breaker.

Tim Seymour

Symbol
Price
 
Change
%Change
ANDV
---

On June 3rd the Ambassador thought he’s struck black gold with an oil play. At the time he said, “I own Tesoro. I'm in for the long haul. I think you should own this refiner.”

Turns out Seymour's trade didn’t gush profits at all. Since he said to get long Tesoro dropped 14%. So what does he have to say for himself, now?

I was early, admits Seymour. Crack spreads continued to come down. But I'd be a buyer now.

Guy Adami

On June 1st the Negotiator suggested adding some color to your portfolio with Red Hat. At the time he said, Although the stock’s up 57% since March it’s a potential takeover candidate. I like it.”

Symbol
Price
 
Change
%Change
RHT
---

Unfortunately, this trade left Adami rather pale. Since he suggested a long position shares are down about 8%. So, what does he have to say for himself, now?

I still think it's a takeover candidate, says Adami. Personally, I think IBM has them in their crosshairs.

Joe Terranova

Symbol
Price
 
Change
%Change
PCFO
---

On June 17th the Liquidator thought nat gas prices were about to get a lift. At the time he said, “Normally, I would not recommend the UNG, but I will because I believe natural gas prices are setting up for a spike.”

As it turns out, this trade was full of hot air. Since Terranova suggested going long the UNG has dropped about 5%. So, what does he have to say for himself, now?

I got it wrong, he admits, but it's because the jet stream has dropped down further south that it usually does. In the Northeast we've had horrible weather and that pattern could remain in place until the end of July.



______________________________________________________
Got something to to say? Send us an e-mail at fastmoney-web@cnbc.com and your comment might be posted on the Rapid Recap. If you'd prefer to make a comment but not have it published on our website send your e-mail to fastmoney@cnbc.com.

Trader disclosure: On June 26th, 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), (FXI), (NOK), (TSO), (TUR); Seygem Asset Management Is Short (RSX); Adami Owns (AGU), (C), (GS), (MSFT), (INTC), (NUE), (BTU); Najarian Owns (GS) Call Spreads; Najarian Owns (JPM) And Is Short (JPM) Calls; Najarian Owns (PALM) Call Spread; Najarian Owns (S) Calls; Najarian Owns (WFC) Put Spread; Najarian Owns (YHOO) Call Spread; Najarian Owns (ESI) Call Spread; Terranova Owns (TER), (XBI), (BTU), (ABT), (RIMM), (HES), (MS),(MSFT)

Terranova Works For (VRTS); Terranova Is Chief Alternatives Strategist Of Virtus Investment Partners, Ltd.; Terranova Is Co-Portfolio Manager Of The Virtus Diversifier PHOLIO; Virtus Diversifier PHOLIO Owns (IGE); Virtus Diversifier PHOLIO Owns (DBC); Virtus Diversifier PHOLIO Owns (DBV); Virtus Investment Partners Owns More Than 1% Of (ABD); Virtus Investment Partners Owns More Than 1% Of (CAL); Virtus Investment Partners Owns More Than 1% Of (CLB); Virtus Investment Partners Owns More Than 1% Of (DLR); Virtus Investment Partners Owns More Than 1% Of (EPR); Virtus Investment Partners Owns More Than 1% Of (EXR); Virtus Investment Partners Owns More Than 1% Of (IGE); Virtus Investment Partners Owns More Than 1% Of (MEE); Virtus Investment Partners Owns More Than 1% Of (DBC); Virtus Investment Partners Owns More Than 1% Of (DBV); Virtus Investment Partners Owns More Than 1% Of (DBA); Virtus Investment Partners Owns More Than 1% Of (SKT); Virtus Investment Partners Owns More Than 1% Of (UA); Virtus Investment Partners Owns More Than 1% Of (WBMD); Virtus Investment Partners Owns More Than 1% Of St Mary Land & Exploration Co; Virtus Investment Partners Owns More Than 1% Of Seagate Tax Refund Rights

Charles Schwab Is A Sponsor Of "Fast Money"

Seymour Owned (TSO) On 6/3/09
Terranova Owned Natural Gas Futures On 6/17/09