A long position in Lululemon looked like a hot trade but so far all it’s done is burn Fast Money trader Pete Najarian, co-founder of OptionMonster. Najarian made the fateful call back on May 11th.

At the time he said, “This is a name that is just absolutely impressive This is a great entry point.”

That was when LULU was trading around $73.

But - flash forward 2 months - and it's safe to say $73 was not such a great entry point. On Tuesday July 3rd, LULU was trading $57.Now what?Najarian remains a buyer. “I still like it," he says on Halftime. "Their numbers are still outstanding. Around $57 I think the stock goes higher.”

______________________________________________________Got something to to say? Send us an e-mail at fastmoney-web@cnbc.com and your comment might be posted on the Rapid Recap. If you'd prefer to make a comment but not have it published on our Web site send your e-mail to fastmoney@cnbc.com .

LULU News & Analysis

 Here's What the Billionaires Are Buying - 16 May 2013 EDT - CNBC.COM

 Whale Watch: Einhorn Boosts Apple Stake by 83.5% - 15 May 2013 EDT - CNBC.COM

 It's Not a Stretch to Offer Plus-Size Yoga Attire - 13 May 2013 EDT - CNBC.COM

 Why Investors Should Mind the 'Gap' - 13 May 2013 EDT - CNBC.COM

 RESEARCH ALERT-TJX: Wells Fargo cuts to market perform - Theflyonthewall.com - 07 May 2013 EDT

 More LULU News