CNBC's "Fast Money" - horrid stock advice

D

DeepFried

The number of s&^t calls these people make is incredible. I like shows about stocks and trading and the panelists on "Fast Money" appear to be accomplished people but, jesus h. criminy, they make some of the worst calls I've ever heard.

Before the Fed's recent rate cut, they were all saying the market will sell off no matter what the Fed does. As you know, the market went straight up that day and the day after.

Goldman earnings - Goldman announces and the panelists say sell Goldman. That was about a week and a half ago and the stock's up 15% since then.

RIMM - Buy puts before earnings, says the panel. RIMM's up 13 bucks today.

AMZN - Jeff Macke - a witty, funny guy - has been saying "short AMZN" since it was at 40. It's now at 93.

How the hell do these people stay liquid let alone stay on a tv show about the market? If they actually traded their calls they'd be living under a bridge somewhere.
 
LOL :D Yes, it's shocking.

It just seems to me there would be a market for a roundtable show after market close where people at least avoid making completely shite stock and market calls.
 
TV is the best of both worlds. When you are right you are brilliant and can brag. When you are wrong, it is just a TV show and for entertainment purposes.
 
Quote from DeepFried:

The number of s&^t calls these people make is incredible. I like shows about stocks and trading and the panelists on "Fast Money" appear to be accomplished people but, jesus h. criminy, they make some of the worst calls I've ever heard.

Before the Fed's recent rate cut, they were all saying the market will sell off no matter what the Fed does. As you know, the market went straight up that day and the day after.

Goldman earnings - Goldman announces and the panelists say sell Goldman. That was about a week and a half ago and the stock's up 15% since then.

RIMM - Buy puts before earnings, says the panel. RIMM's up 13 bucks today.

AMZN - Jeff Macke - a witty, funny guy - has been saying "short AMZN" since it was at 40. It's now at 93.

How the hell do these people stay liquid let alone stay on a tv show about the market? If they actually traded their calls they'd be living under a bridge somewhere.
More...

Love The Show... Taking The Other Side of your trade... :)

1. Adamai was long for last two weeks and said we were going higher...

2. Panel said to buy GS a week before earnings and then AT EARNINGS announcement to sell them after the pop...

3. Never heard Macke say short AMZN just not to buy it... but he was very right on a lot of other stocks... Promoted RIMM for one two weeks ago as well as rest of panel... The panel also said to buy RIMM two weeks ago and then hedge your long term buy with a few puts before earnings were released...

They are way more right then they are wrong... its a good show... well done and worth watching...

their Global coverage is excellent...

so i agree with you... its a great show... :p

<img src="http://www.enflow.com/p.gif">
 
When they lost Eric Bolling, they lost their star trader.

He knows how to trade commodities and gave out good info to the viewers.
 
To follow up on EdgeHunter's post


It was only Guy Adamai who said that stocks would go lower no matter what the Fed did. He admitted he was wrong the next day. Who here doesn't make mistakes? If you quickly correct them you will survive. One of the good points of the show is that they actually point out their bad calls and discuss them. Good show IMO.
 
Quote from EdgeHunter:

Love The Show... Taking The Other Side of your trade... :)

1. Adamai was long for last two weeks and said we were going higher...

2. Panel said to buy GS a week before earnings and then AT EARNINGS announcement to sell them after the pop...

3. Never heard Macke say short AMZN just not to buy it... but he was very right on a lot of other stocks... Promoted RIMM for one two weeks ago as well as rest of panel... The panel also said to buy RIMM two weeks ago and then hedge your long term buy with a few puts before earnings were released...

They are way more right then they are wrong... its a good show... well done and worth watching...

their Global coverage is excellent...

so i agree with you... its a great show... :p

<img src="http://www.enflow.com/p.gif">
More...

Have you been watching the same show? :p Well, you seem to be a glass half full kind of guy, in this case. :) Speaking to your points -

1 - Adami said the market was going lower no matter what the Fed did but especially if the Fed cut rates by 50 basis points. Sorry, but that's a horrible call. Cramer was saying the same thing. And no one on the FM panel was saying Guy was wrong. They just shut up which is some weak sauce.

2 - Karen did NOT want to buy GS before earnings and everyone but Najarian were scared of the financials. Najarian was, to his great credit, pounding the table to buy GS before earnings. Then, the day of earnings, Najarian and Adami both said sell it. Again, it's up 15% in the short time since.

3 - Oh, come on! The last time Macke mentioned AMZN he specifically said "buy puts." He hasn't said anything about it lately (not surprising) but he's recommended shorting it several times.

Re RIMM, I don't remember what they said about it two weeks ago, but early this week they were saying it's not likely to pop to the upside and they recommended buying puts.

The people are likable and they appear to have had a lot of success in their field but they are dead wrong frequently. I like the people on the show. It's nothing personal. I just wish they would tighten up their market blather.

Bolling was the best of the bunch. He talked in terms of "if this happens, I think that will happen" which is smart and great discussion. He didn't just yell into the camera that XYZ stock is a pig and you should short it. His replacement Najarian is the best of the group now, IMHO.

Also, yelling into the camera, no matter how loudly, does not enhance the validity of their calls, LOL.

Of course, nobody gets it right all the time and the show does have some good information but, sheesh, you could have faded nearly everything they've said for the last month and made a killing.
 
If you can take everything with a grain of salt you can make money watching the show. They talk about some of the top performing stocks, trying to make timing decisions based on what they say at 8pm before the big jobs number changes their mind at 8:30 the next morning is probably not a good idea. Still, Najarian is remarkably accurate, he was saying Rimm was going to ramp today and it did. I should have bought biogen a while back when he first recommended it. It seems like the concept of buying stocks with unusually large options activity is remarkably indicative of insider trading. :p
 
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