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Burned by Google

Moving to the sidelines in Google may have looked like a smooth move at the time, but as it turns out, Joe Terranova fumbled this play.

The Liquidator made the fateful call on December 1st discouraged by the stock’s recent performance.

“It got up to 570 and closed towards the lower end of its range on a day where technology was very strong,” he said at the time. "The tape was strong. If you're one of those folks that have questioned your long position in Google, I still think you have to be concerned.

Unfortunately, no guts no glory. Since he said to step said shares of Google have climbed about 6%.

So what does he have to say about this stock now?

I still don't like Google, he says. That's my bottom line.



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Trader disclosure: On January 5, 2010, 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 is short (IJR); Finerman's firm is short (MDY); Finerman's firm is short (SPY); Finerman's firm is short (IWM); Finerman's firm is long S&P puts; Finerman's firm is long Russell 2000 puts; Finerman owns (AAPL); Finerman owns (BAC); Finerman's firm owns (BBY); Finerman's firm owns shares of BMW; Finerman owns (BP); Finerman's firm owns (BP); Finerman's owns (GOOG); Finerman owns (HPQ); Finerman's firm owns (HPQ); Finerman's firm owns (IBM); Finerman owns (JPM) and (JPM) leaps; Finerman's firm owns (JPM) and (JPM) leaps; Finerman owns (MSFT); Finerman's firm owns (MSFT); Finerman's firm owns (WMT); Seymour owns (BX); Seymour owns (TSL); Seymour owns (VIP); Seymour owns (AA); Seymour owns (AAPL); Seymour owns (F); Seymour owns (FXI); Adami owns (AGU); Adami owns (C); Adami owns (GS); Adami owns (INTC); Adami owns (MSFT); Adami owns (NUE); Adami owns (BTU); Adami's wife works at (MRK); Terranova owns (GM); Terranova owns (C); Terranova owns (VRTS); Terranova owns (UPL); Terranova owns (PEP); Terranova owns (OXY); Terranova owns (GS); Terranova owns (SLW) puts; Terranova owns (GLD) puts; Terranova is short (SLV) futures

For Joe Terranova
Terranova is Chief Market Strategist of Virtus Investment Partners, LTD
Virtus Investment Partners Owns More Than 1% Of (ABAX)
Virtus Investment Partners Owns More Than 1% Of (AMKR)
Virtus Investment Partners Owns More Than 1% Of (CCG)
Virtus Investment Partners Owns More Than 1% Of (CASS)
Virtus Investment Partners Owns More Than 1% Of (CSVI)
Virtus Investment Partners Owns More Than 1% Of (EXR)
Virtus Investment Partners Owns More Than 1% Of (FCFS)
Virtus Investment Partners Owns More Than 1% Of (IGE)
Virtus Investment Partners Owns More Than 1% Of (KRC)
Virtus Investment Partners Owns More Than 1% Of (LDR)
Virtus Investment Partners Owns More Than 1% Of (LPHI)
Virtus Investment Partners Owns More Than 1% Of (NCRI)
Virtus Investment Partners Owns More Than 1% Of (DBV)
Virtus Investment Partners Owns More Than 1% Of (XLB)
Virtus Investment Partners Owns More Than 1% Of (XLV)
Virtus Investment Partners Owns More Than 1% Of (XLP)
Virtus Investment Partners Owns More Than 1% Of (XLY)
Virtus Investment Partners Owns More Than 1% Of (XLE)
Virtus Investment Partners Owns More Than 1% Of (XLI)
Virtus Investment Partners Owns More Than 1% Of (XLK)
Virtus Investment Partners Owns More Than 1% Of (XLU)
Virtus Investment Partners Owns More Than 1% Of (SUBK)
Virtus Investment Partners Owns More Than 1% Of (WDFC)
Virtus Investment Partners Owns More Than 1% Of (YDNT)
Virtus Investment Partners Owns More Than 1% Of (CLB)

For Brian Kelly
Accounts Managed By Kanundrum Capital Own USD
Accounts Managed By Kanundrum Capital Own (TBT)
Accounts Managed By Kanundrum Capital Own (MS)
Accounts Managed By Kanundrum Capital Own (YGE)
Accounts Managed By Kanundrum Capital Own (ANDE)
Accounts Managed By Kanundrum Capital Own (MCP)
Accounts Managed By Kanundrum Capital Own (GLD)
Accounts Managed By Kanundrum Capital Own (SWC)
Accounts Managed By Kanundrum Capital Own (TM)
Accounts Managed By Kanundrum Capital Own (JPM)
Accounts Managed By Kanundrum Capital Own (WFC)
Accounts Managed By Kanundrum Capital Own (BBT)
Accounts Managed By Kanundrum Capital Own (OSK)
Accounts Managed By Kanundrum Capital Own (QCOM)
Accounts Managed By Kanundrum Capital Own (IPI)
Accounts Managed By Kanundrum Capital Are Short The Euro
Accounts Managed By Kanundrum Capital Are Short The Yen

For Brian Yu
A director of Citi serves on (AA) Board
Citigroup Global Markets or its affiliates owns 1% or more of (AA) , (CLF)
Citigroup Global Markets Or Affiliates Has Managed Or Co-Managed An Offering Of (AA) In Past 12 Months
Citigroup Global Markets or affiliates has received investment banking compensation for services provided within the past 12 months from (AA)
Citigroup Global Markets or affiliates expects to receive/seek investment banking compensation from (AA) , (CLF) In next 3 months
Citigroup Global Markets Inc. or an affiliate received non-investment banking from (AA) in the past 12 months
(AA) , (CLF) Is Or In Past 12 Months Was An Investment Banking Client Of Citigroup Global Markets
(AA) Is Or In Past 12 Months Was A Non-Investment Banking Client Of Citigroup Global Markets (Securities-Related Srvices)
(AA) Is Or In Past 12 Months Was A Non-Investment Banking Client Of Citigroup Global Markets (Non-Securities-Related Srvices)
Citigroup Global Markets or affiliate received compensation in past 12 months from (AA)
Citigroup Global Markets is a market maker in (AA)
Citigroup Global Markets And/Or Affiliates Has A Significant Financial Interest In Relation To (AA)

For Rohit Chopra
Wedbush Securities Is A Market Maker In (CSCO), (AAPL), (PLCM)
Wedbush Securities Provided Non-Investment Banking Securities-Related Services To (PLCM) Within Past 12 Months
Wedbush Securities Has Received Non-Investment Banking Compensation From (PLCM) Within Past 12 Months
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Pete Najarian SOT
Pete Najarian owns (BAC) call spreads

For Mike Khouw
Khouw has no disclosures

Fast Fire SOT
Terranova had no disclosures on (GOOG) on 12/1/2010

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