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Web Extra: Burned by Jefferies

A long position in Jefferies looked like a hot trade, but all it did was burn Guy Adami. So what does he think of this stock, now?

The Negotiator made the fateful call on December 21st as a bet momentum would propel the stock higher.

”The stock has had a nice run into earnings,” he said at the time. “Although it's tapered off a bit, I think this is the beginning of something, not the end.”

Unfortunately, Adami thought wrong. Since he suggested a long position shares are down almost 6%.

So what does he have to say now? Find out in this web extra. Watch the video now!





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Trader disclosure: On Feb 4, 2011, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s "Fast Money" were owned by the "Fast Money" traders; Terranova owns (VRTS); Terranova owns (C); Terranova owns (UPL); Terranova owns (GM); Terranova owns (PEP); Terranova owns (LTD); Terranova owns (CVI); Terranova owns (SU); Terranova owns (CNQ); 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 for (MRK); Finerman's firm is short (MDY); Finerman's firm is short (SPY); Finerman's firm is short (IWM); Finerman's firm is short (IJR); Finerman's firm is long S&P puts; Finerman's firm is long Russell 2000 puts; Finerman owns (AAPL); Finerman's firm owns (AAPL); Finerman owns (BAC); Finerman's firm owns (BAC) leaps; Finerman owns (BP); Finerman's firm owns (BP); Finerman owns (CVS); Finerman's firm owns (CVS); Finerman owns (GOOG); Finerman owns (HPQ); Finerman's firm owns (HPQ); Finerman's firm owns (IBM); Finerman owns (JPM); 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); Pete Najarian owns (AXP); Pete Najarian owns (BAC) call spreads; Pete Najarian owns (C); Pete Najarian owns (F) bonds and calls; Pete Najarian owns (GE); Pete Najarian owns (GM); Pete Najarian owns (JPM); Pete Najarian owns (MS); Pete Najarian owns (PEP); Pete Najarian owns (PFE); Pete Najarian owns (YHOO); Weiss owns (TBT); Weiss owns (INFN); Weiss owns (JPM); Weiss owns (VZ); Weiss owns (AGU); Weiss owns (FAS); Weiss owns (UUP); Weiss owns (IPI); Weiss owns (NIHD); Weiss owns (BTU); Weiss owns (MEE); Weiss owns (DVN); Weiss owns (COP); Weiss is short (XLE)

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 (NRCI)
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 (XLF)
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 (DPUKF)

For David Bank
RBC Capital Markets is currently providing (DISCA) with non-securities services.
RBC Capital Markets has provided (DISCA) with non-securities services in the past 12 months.
No Disclosures found for (MSO)
No Disclosures found for (NWSA)
No Disclosures found for (OMC)
No Disclosures found for (SNI)
RBC Capital Markets is currently providing (IPG). with non-securities services
RBC Capital Markets has provided (IPG) with non-securities services in the past 12 months
RBC Capital Markets is currently providing (DIS) with non-securities services
RBC Capital Markets has provided (DIS) with non-securities services in the past 12 months
RBC Capital Markets is currently providing (TWX) with non-investment banking securities-related services
RBC Capital Markets has provided (TWX) with non-investment banking securities-related services in the past 12 months

For Doug Kass
Kass's Fund Owns (GM), (PG), (PEP)

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Comcast is the parent company of NBCUniversal
GE owns 49% of NBCUniversal
GE owns 49% of CNBC