Web Extra: Burned by Hewlett-Packard

It was just a few days into 2011 when "Fast Money" trader Pete Najarian made one of his first trades of the year; a trade that didn't exactly turn out as he had hoped.

"Hewlett-Packard is the name, I still think. When you look at this name and you dig a little deeper, it's trading at single-digit P/E for 2011," Najarian said on Jan. 3, 2011. "When you look at the growth they could get in a various enterprise areas, that's a name that I think is too cheap. I made a move today in Hewlett-Packard."

Shares of the technology giant are down for the year. But after looking at the chart, Najarian on Thursday said now is the time to start looking at it again. As HPQ continues to trade at a single-digit P/E, he said the stock went from $42 towards $50 a share. Being as it has pulled back, Najarian recommends buying shares now.

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Trader disclosure: On Mar. 10, 2011, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s "Fast Money" were owned by the "Fast Money" traders; Joe Terranova Owns (VRTS), (C), (GS), (PNC), (USB), (JPM), (UPL), (ABT), (MS), (PBR), (BAX), (TEVA), (CVI), (RSX), (SU) and (CNQ). Guy Adami Owns (AGU), (C), (GS), (INTC), (MSFT), (NUE) and (BTU). Pete Najarian Owns (AAPL) and (TCK).

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JOE TERRANOVA
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KAREN FINERMAN
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ANTHONY SCARAMUCCI
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SOT/TIM SEYMOUR 2/15/11
***NO DISCLOSURES ON GMCR

SOT/PETE NAJARIAN 1/3/11
***NO DISCLOSURES ON HPQ

SOT/ANTHONY SCARAMUCCI 3/3/11
***NO ADDITIONAL DISCLOSURE NECESSARY

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