Web Extra: Burned by Diana Shipping

A long position in Diana Shipping looked like a hot trade but all it did was burn Brian Kelly.

Beeksey made the fateful call on November 17^th as a bet the company was among the best managed in the space.

”They're a little conservatively managed company so if you want a little lower on the risk spectrum I'd go with them,” he said at the time.

Unfortunately, the shipper kinda’ sank. Since he said to get long, shares are down almost 7%.

So what does he think of this stock now? Find out in this web extra. Watch the video now!

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Trader disclosure: On January 12, 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 (GM); Terranova owns (C); Terranova owns (VRTS); Terranova owns (UPL); Terranova owns (PEP); Terranova owns (OXY); Terranova owns (GS); Terranova owns (LTD); Terranova owns (CNQ); Terranova owns (PVH); Terranova owns (CVI); Terranova owns (GLD) puts; Adami owns (AGU); Adami owns (C); Adami owns (BTU); Adami owns (GS); Adami owns (INTC); Adami owns (MSFT); Adami owns (NUE); Adami's wife works at (MRK); 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 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 (TGT); Finerman's firm owns (WMT)

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 (FCX)
Accounts Managed By Kanundrum Capital Own (GDXJ) straddles
Accounts Managed By Kanundrum Capital Own (GLD)
Accounts Managed By Kanundrum Capital Own (TBT)
Accounts Managed By Kanundrum Capital Own (MON)
Accounts Managed By Kanundrum Capital Own (IPI)
Accounts Managed By Kanundrum Capital Own (ANDE)
Accounts Managed By Kanundrum Capital Own (USD)
Accounts Managed By Kanundrum Capital Are Short The Euro
Accounts Managed By Kanundrum Capital Are Short The Yen

For Joshua Brown
Brown owns (AAPL)
Brown owns (AAPL) for clients
Brown owns (AMZN) for clients
Brown owns (BAC)
Brown owns (BAC) for clients
Brown owns (BP) for clients
Brown owns (C)
Brown owns (C) for clients
Brown owns (DBA)
Brown owns (DBA) for clients
Brown owns (DIS) for clients
Brown owns (GE) for clients
Brown owns (GS) for clients
Brown owns (GLD)
Brown owns (GLD) for clients
Brown owns (GOOG) for clients
Brown owns (IWM) for clients
Brown owns (JNJ) for clients
Brown owns (JPM)
Brown owns (JPM) for clients
Brown owns (MOO)
Brown owns (MOO) for clients
Brown owns (MOS)
Brown owns (MOS) for clients
Brown owns (MSFT)
Brown owns (MSFT) for clients
Brown owns (POT)
Brown owns (QCOM)
Brown owns (QCOM) for clients
Brown owns (SBNY)
Brown owns (VZ)
Brown owns (VZ) for clients
Brown owns (WFC)
Brown owns (WFC) for clients
Brown owns (XOM) for clients

For Anthony Scaramucci
Scaramucci and Skybridge Capital Own (GS)

For Dennis Gartman
Dennis Gartman is long March KC Wheat
Dennis Gartman is long soybeans
Dennis Gartman is short the Yen
Dennis Gartman is long the Canadian Dollar
Dennis Gartman is long the Aussie Ddcollar
Dennis Gartman is long gold, short sterling
Dennis Gartman is short the Euro

For Steve Cortes
Cortes is long U.S. Treasuries

For Mike Khouw
Cantor Fitzgerald & Co is a market maker in (GOOG), (AAPL), (IBM)

For Brian Kelly Fast Fire SOT
No disclosures

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