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Web Extra: Update - Slo-o-o-w Money w/ Stephen Weiss

On June 20th trader Stephen Weiss first told us that Verizon looked like a slow money trade.

”I’m not constructive on the market so I want to put money in equities that have big yields,” he said at the time. And then he suggested a long position in Verizon.

Here's his thesis: With the acquisition of T-Mobile by AT&T Weiss thought that Verizon gained pricing power. ”There’s a whole new pricing dynamic going on before T-Mobile folds into AT&T,” he said. "They’re charging more for data.”

Also he liked the yield. “The stock yields 5.5% and that’s great pickup over any government bond yield.” And on top of that Weiss felt the retiring CEO wanted to go out with a bang.

What does he have to say about the stock now? Find out in this web extra!






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Trader disclosure: On Aug 16th 2011, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s "Fast Money" were owned by the "Fast Money" traders; Nathan owns (AAPL) calls; Nathan owns (BAC) puts; Nathan owns (DELL) puts; Nathan owns (JPM) puts; Nathan owns (AAPL) calls; Finerman and Finerman’s firm own (AAPL); Finerman owns (BAC) and Finerman’s firm own (BAC) leaps; Finerman’s firm owns (CAT) calls; Finerman’s firm owns (WAL); Finerman’s firm owns (MSFT); Finerman’s firm owns (IBM); Finerman’s firm owns (HPQ) and (HPQ) puts; Finerman owns (JPM) and Finerman’s firm owns (JPM) stock and (JPM) leaps; Finerman's Firm Is Short (IWR); Finerman's Firm Is Short (MDY); Finerman's Firm Is Short (XRT); Finerman's Firm Is Short (SPY); Finerman's Firm Is Long S&P 500 Puts; Finerman's Firm Is Long Russell 2000 Puts; Terranova owns (XOM); Terranova owns (CVI); Terranova owns (CAT); Terranova owns (OXY); Terranova owns (AAPL); Terranova owns (DAR); Terranova owns (FCX); Terranova owns (CACI); Terranova owns (ARUN); Terranova owns (ORCL); Terranova owns (EMC); Terranova owns (NCR); Terranova owns (VMW); Terranova owns (IBM); Terranova owns (AMZN); Terranova owns (LULU); Terranova owns (LTD); Terranova owns (WFM); Terranova owns (JPM); Terranova owns (AXP); Terranova owns (FXA); Terranova owns (VRTS); Terranova owns (LQD)

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 Building Materials Holdings
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 (KRC)
Virtus Investment Partners Owns More Than 1% Of (LDR)
Virtus Investment Partners Owns More Than 1% Of (LHO)
Virtus Investment Partners Owns More Than 1% Of (NRCI)
Virtus Investment Partners Owns More Than 1% Of Sun Pharmaceutical Industries Ltd
Virtus Investment Partners Owns More Than 1% Of (DBV)
Virtus Investment Partners Owns More Than 1% Of (RLI)
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 (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 Domino's Pizza UK & IRL PLC

For Mike Khouw
Cantor Fitzgerald is a market maker in (NFLX)
Cantor Fitzgerald is a market maker in (GOOG)
Cantor Fitzgerald is a market maker in (AAPL)
Cantor Fitzgerald is a market maker in (BAC)
Cantor Fitzgerald is a market maker in (AMZN)
Cantor Fitzgerald is a market maker in (CBOE)
Cantor Fitzgerald is a market maker in (WFC)
Cantor Fitzgerald is a market maker in (IBM)

For Dennis Gartman
Funds Managed By Dennis Gartman and Dennis Gartman own Gold

For Brian Kelly
Accounts managed by Brian Kelly Capital short (SLV) calls
Accounts managed by Brian Kelly Capital own (JJG)
Accounts managed by Brian Kelly Capital long (TLT) calls
Accounts managed by Brian Kelly Capital own (SPY) calls
Accounts managed by Brian Kelly Capital are short the British Pound

For Peter Misek
Jefferies makes a market in Apple Inc.
Jefferies makes a market in Google, Inc.
Jefferies makes a market in Research in Motion, Inc.

For Rich Repetto
** No disclosures

For David Greenberg
** No disclosures



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