What Goes Up…
January 6th, 2006 by BWV
Must come down. Eventually, anyway.
One of my biggest winners from 2004 is now on my mind as a short. Mississippi-based chicken company Sanderson Farms (SAFM) produced 40-50% gains for me a while back. Now it’s completely breaking down, as are competitors Tyson (TSN), Pilgrim’s Pride (PPC), and others.
I caught several points on the short side this week. Out now, but would love to reload on a bounce. Actually, if at about 3:45 SAFM looks like it will close below $27.50 (yesterday’s close), I’m going to reload short right then.
PPC is next, it’s on day 3 of a little mini-bounce.. They have much more work to do on the downside.
No positions, yet
