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Web Extra: Burned By Research In Motion

A long position in RIM looked like a hot trade but all it did was burn. So how is Pete Najarian playing this stock now.

The Pit Boss made the fateful call back on August 18th when the stock traded $52 after flirting with $80 back in April.

“I think when you look at RIM right now its very fair value,” he said. “They have plenty of cash.’

Unfortunately since mid-August shares of RIM are down even more.

If it looked good at $52 will Najarian still like the stock now, in the high 40’s? Or is it dead money?

Find out in this web extra. Watch the video now!




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Trader disclosure: On Oct.18, 2010, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Adami owns (AGU), (BTU), (NUE), (C), (GS), (INTC), (MSFT); Adami’s wife works at Merck; Finerman owns (AAPL); Finerman and Finerman’s firm owns (BAC); Finerman and Finerman’s firm owns (JPM); Finerman and Finerman’s firm owns (GOOG); Finerman’s firm owns (IBM); Finerman’s firm owns (MSFT); 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; Pete Najarian owns (AAPL) call spreads; Pete Najarian owns (BAC); Pete Najarian owns (ISLN) call spreads; Seymour owns (AAPL), (BAC), (MON), (GOOG), (POT); Jon Najarian owns (IBM) calls; Jon Najarian owns (AAPL) calls

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