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Burned by US Steel, Nat Gas

They looked like hot stocks. So how are the traders playing US Steel and nat gas now that they've been burned?

Joe Terranova

On July 16th the Liquidator suggesting turning bullish on the price of nat gas . “I think it bottomed today,” he said.

As it turns out, all Terranova’s gas trade generated was a need for antacid. Since he said to go long nat gas has tumbled 17%. So what does he have to say for himself?

Now, I'm a buyer of coal, says Joe Terranova, but it's on the belief nat gas is going higher.



Guy Adami

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On July 28th the Negotiator thought chart patterns signaled a correction for US Steel. “It traded down to $29.35 on July 8th. By July 11th, the stock was trading $43.15. The stock's had a monster move. I think the stock corrects to $35,” he said.

Unfortunately Adami’s call was in-correct. Rather than correcting the stock soared by 8%. So what does Adami have to say for himself?

I was wrong, admits Adami. I'm sorry.

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Trader disclosure: On Aug 21st, 2009, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Finerman's Firm Owns (BAC) Preferred Shares, Finerman Owns (BAC) Preferred Shares And (BAC); Finerman's Firm Owns (MSFT), (ARO), (WMT), (TGT); Finerman's Firm Is Short (USO); Finerman's Firm Owns (WFC) Preferred Shares And Is Short (WFC), Finerman Owns (WFC) Preferred Shares; Finerman's Firm Is Short (IYR), (IJR), (MDY), (IWM); Adami Owns (AGU), (BTU), (C), (GS), (INTC), (MSFT), (NUE); Grasso Owns (ASTM), (BAC), (C), (COST), (PRST), (V), (WMT), (FAZ), (AAPL); Terranova Owns (FCX), (BTU), (SU), (WFT), (AMZN), (MSFT); Terranova Is Short (CCL), (ESS)

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