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Web Extra: Burned By TJX

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

The Pit Boss made the fateful call on November 3rd on the belief that the company would attract a wide range of shoppers.

”TJX plays into everything,” he said, “the affluent as well as the downside. “

Prices you’ll adore may be the slogan of TJ Maxx stores but it’s hardly the slogan for the stock. Since Najarian suggested a long position, shares have declined almost 5%.

So what does Najarian say about this stock now? Find out in this web extra. Watch the video now!


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Trader disclosure: On December 8, 2010, following stocks and commodities mentioned or intended to be mentioned on CNBC’s "Fast Money" were owned by the "Fast Money" traders; Terranova Owns (C), (GS), (NKE), (OXY), (PEP), (PFE), (VRTS), (UPL); Terranova Owns (GLD) puts; Adami owns (AGU), (BTU), (NUE), (C), (GS), INTC), (MSFT); Adami’s wife works at Merck; Finerman owns (AAPL); Finerman owns (BAC); Finerman & Finerman’s Firm owns (JPM); Finerman’s firm owns (MCD); Finerman & Finerman’s Firm owns (MSFT); Finerman’s firm owns (OCR); Finerman’s firm owns (TJX); Finerman’s firm owns (YUM); 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; Pete Najarian owns (C); Pete Najarian owns (MCD); Pete Najarian owns (MS); Pete Najarian owns (SMH); Pete Najarian owns (YHOO); Cortes Owns (TSN); Cortes Owns (TM); Cortes is short (XRT) vs. S&P 500; Cortes is short (LVS); Cortes is long USD vs. Mexican Peso; Cortes is short Corn; Cortes owns U.S. 2-Year and 30-Year Treasuries

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Terranova is Chief Market Strategist of Virtus Investment Partners, LTD
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