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Web Extra: Burned By VMWare

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

So how does he suggest playing it now?

BK made the fateful call on December 30th as a bet on cloud computing.

At the time he said, “The best trade if you want to get into it, is long VMWare. That’s really the growth engine, the virtualization of the servers."

VMWare may be involved in virtual reality, but the cold hard reality is that since he said to go long VMWare has tumbed about 10%.

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



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Trader disclosure: On Feb 23, 2011, 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); Seymour owns (BAC); Seymour owns (F); Seymour owns (FXI); Seymour owns (INTC); Seymour owns (STP); Seymour owns (TSL); Kinahan owns (BAC); Kinahan owns (C), is short (C) calls; Kinahan owns (CSCO); Kinahan owns (F); Kinahan owns (GE); Kinahan owns (MSFT) puts; Kinahan owns (NFLX) puts; Kinahan owns (WFC); Kinahan owns (YHOO); Finerman's Firm Is Short (IWM); Finerman's Firm Is Short (SPY); Finerman's Firm Is Short (MDY); Finerman's firm is short (XRT); Finerman's firm is short (IJR); Finerman's Firm Is Long S&P Puts; Finerman's Firm Is Long Russell 2000 Puts; Finerman's Firm And Finerman Own (AAPL); Finerman's Firm Owns (BAC) Leap, Finerman Owns (BAC); Finerman's Firm Owns (BBY); Finerman's Firm And Finerman Own (BP); Finerman's firm owns (FCX) puts; Finerman Owns (GOOG); Finerman's Firm And Finerman Own (HPQ); Finerman's Firm Owns (IBM); Finerman's Firm Owns (JPM), (JPM) Leap; Finerman Owns (JPM); Finerman's Firm Owns (M); Finerman's Firm And Finerman Own (MSFT)’ Finerman's Firm Owns (WMT); Jon Najarian owns (CHK), is short (CHK) calls; Jon Najarian owns (DTV), is short (DTV) calls; Jon Najarian owns (BP), is short (BP) calls;’ Jon Najarian owns (NBR), is short (NBR) calls; Jon Najarian owns (KWK), is short (KWK) calls; Jon Najarian owns (HPQ); Jon Najarian owns (MOS), is short (MOS) calls; Jon Najarian owns (ATML), is short (ATML) calls; Jon Najarian owns (LLTC), is short (LLTC) calls

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GE owns 49% of CNBC

For Brian Kelly
Accounts Managed By Kanundrum Capital Own (ROC)
Accounts Managed By Kanundrum Capital Own (AGO)
Accounts Managed By Kanundrum Capital Own (ATW)
Accounts Managed By Kanundrum Capital Own (IAU)
Accounts Managed By Kanundrum Capital Own (SLV)
Accounts Managed By Kanundrum Capital Own (DBA)
Accounts Managed By Kanundrum Capital Own (JJG)
Accounts Managed By Kanundrum Capital Own (EBAY)
Accounts Managed By Kanundrum Capital Own (TLT)
Accounts Managed By Kanundrum Capital Is Short The Yen
Accounts Managed By Kanundrum Capital Is Short The Euro

For Chris Motroni
Motroni has no disclosures

For Doug Kass
Seabreeze Partners Management owns (PNC)

For Jeff Klinefelter
(BODY), (GIII), (GMAN), (RUE) have been investment banking clients of Piper Jaffray during the past 12 months
Piper Jaffray expects to have (BODY) as investment banking clients within the next three months
Other material conflicts of interest for Jeff Klinefelter or Piper Jaffray include (BODY), (GMAN), (RUE) underwriting
Piper Jaffray received non-investment banking securities-related compensation from (GSO)during the past 12 months
Piper Jaffray is a market maker in (BODY), (CROX), (CTRN), (DECK), (GIII), (GMAN), (HOTT), (PSUN), (ROST), (VLCM), (WTSLA), (ZUMZ)
Piper Jaffray buys and sells the securities of(ANF), (ARO), (AEO), (GCO), (GES), (GPS), (JCG), (JCP), (KSS), (PVH), (RL), (RUE), (TGT), (UA), (VFC), (WRC), (ZQK) on a principal basis

For Paul Sankey
Deutsche Bank has received non-investment banking compensation from (OXY) this year
(OXY) has been a client of Deustche Bank Securities within past year
(HES) is an investment banking client of DBSI
Deustche Bank has received non-investment banking compensation from (HES) this year
(HES) has been a client of Deutsche Bank Securities within the past year.
Deutsche Bank owns 1% or more of a class of (MRO) common equity
(MRO) is an investment banking client of DBSI
Deutsche Bank has received non-investment banking compensation from (MRO) this year
(COP) is an investment banking client of DBSI
Deustche Bank has received non-investment banking compensation from (COP) this year
(COP) has been a client of Deutsche Bank Securities this past year.

For Alexandra Lebenthal
Lebenthal has no disclosures

For Mike Khouw
Cantor Fitzgerald & Co. is a market maker in (SLV)