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Web Extra: Burned by Intel

A long position in Intel looked like a hot trade but it wasn’t. So how is Tim Seymour playing the stock now that he’s been burned.

The Ambassador made the fateful call on July 13th.

“These guys are in 80% of everything you buy,” he said. “And when I hear that PC sales are far from having peaked, that's the reason to get excited.”

Unfortunately a long position in Intel was a trade that just didn't compute; since Seymour said to get long shares are down about 6%.

So, what does he think of the stock now? Watch the video and find out in this web extra!

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Trader disclosure: On August 6th, 2010, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Pete Najarian owns (CTRP) calls; Pete Najarian owns (DD) short calls; Pete Najarian owns (MCD) calls; Pete Najarian owns (CF) calls; Pete Najarian owns (RIMM) call spread; Terranova owns (AKAM), (APA), (BAX), (COP), (FCX), (GS), (MOS), (MSFT), (PFE), (POT), (SU), (XBI); Grasso owns (ASTM), (ABK), (BA), (BAC), (BGP), (C), (CSCO), (DYN), (JPM), (LPX), (MO), (MOT), (NDAQ), (PFE), (PRST); Seymour owns (AAPL), (BAC), (BX), (GOOG), (INTC), (MOS), (POT); Finerman owns (AAPL); Finerman's firm owns (ARM); Finerman’s firm owns (BBY); Finerman's firm owns (LEA); Finerman’s firm owns (KFT); Finerman & Finerman's firm owns (RIMM); Finerman’s firm owns (TSX); Finerman’s firm owns (GYMB); Finerman’s firm owns (PLCE); Finerman's firm owns (WMT); Finerman's firm owns (DAN); Finerman's firm is short (IJR); Finerman's firm is short (MDY); Finerman's firm is short (SPY); Finerman's firm is short (IWM); Finerman’s firm owns S&P 500 puts; Finerman’s firm owns Russell 2000 puts

For Joe Terranova
Terranova is chief market strategist of Virtus Investment Partners, LTD.
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For Patty Edwards
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For Steve Grasso:
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Stuart Frankel & Co and it’s partners are short (QQQQ)