Basic materials are screaming higher because everyone thinks the Fed is going with QE3 next week. Silver, gold, copper, even coal, are making wealthy men out of new shareholders. God knows the sector has been bludgeoned to death and is due for an oversold bounce.

With that in mind, I bought a little TC today, a mere 200,000 shares, just to test the waters. Most of these companies are impaired and are not worth holding, long term. But, in the short run, they can and will go higher, providing the Fed adds liquidity.

I booked a 6% gain in LOGM, despite the fact it wants higher. It was never central to my thesis and I’d hate to see a small gain turn into a loss. In addition, I sold 100,000 NAK for a 30% gain. I will hold the remainder of my shares into October.

Lastly, I added to PPC because it’s cheap and the protein trade is young. By the time Thanksgiving comes around, all of you buttfuckers will want in. By that time, I will be selling to you for magnanimous gains.

NOTE: Take notice of yet another grande IPO, ADNC. Unreal.