A long position in Archer-Daniels Midland looked like a hot trade but all it did was burn Brian Kelly. So how is BK playing it now?
Kelly made the fateful call on October 13th not as a pure ag play but rather as a bullish bet on alternative energy.
“There was an ethanol ruling today that was positive for ADM,” he said. “And there is another one coming in December.”
Unfortunately, this processor of corn and other commodities ran out of gas. Since he said to get long, shares of ADM are down about 10%.
So how would BK play this stock now?
Find out in this web extra.
Watch the video now!
This content is only available online - you won't find these trades on TV.
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Trader disclosure: On December 3rd, 2010, 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), (F), (VIP); Adami owns (AGU), (BTU), (NUE), (C), (GS), (INTC), (MSFT); Adami’s wife works at Merck; Finerman owns (AAPL); Finerman’s firm owns (ARM); Finerman owns (BAC); Finerman’s firm owns (BKS); Finerman’s firm owns (CMI); Finerman & Finerman’s Firm owns (JPM); Finerman & 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 and Russell 2000 puts; Finerman's firm owns (ARO); Finerman's firm owns (TJX)
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