When I’m riding a winner, I’ll mostly taunt the opposition. For me, the taunts are a way of saying, “I still like this position, in case you’re wondering.” When I’m in a loser you’ll know where I’m wrong way beforehand, so you’re not left holding the bag. Case in point, by most recent beast win: PPC.
Pilgrim Pride was highlighted by Fly near the end of the summer. The media had sold you the story that corn was fucked because news blogs saw how many clicks their corn famine stories received. Then they did slide shows expanding the sites view count exponentially. IT WAS A HOT STORY. And corn prices shot higher and have mostly held the gains. It was all enough for their stories to hold water, unlike the exhausted soils of corn huskers in Nebraska.
Pilgrim Pride was taken to the woodshed because they had a few tough quarters and with one of their input costs skyrocketing, it seemed a layup to short them into oblivion. Short interest was high going into earnings. I had a small position. I play multi-quarter positions very small (2-3%) until they start to work. What happened next? They crushed expectations and the stock gapped up huge. The shorts were all.fucking.trapped. It was time to mock said shorts, and build a massive position. The mocking has continued for weeks, and we may have finally seen the last squeeze today. Yet I will retain a small, novelty position in the name to remember the de-cocking I partook in. ARISE!
Some excerpts from Twitter:
A chicken in every pot, a loaf of bread on every table, and a pumpkin on every porch. #americanfall
— Raul (@IndexModel) October 26, 2012
$PPC will squeeze all thanksgiving
— Raul (@IndexModel) October 31, 2012
$PPC above Friday's high for the sqeeze. pic.twitter.com/yIdw2mXE
— Raul (@IndexModel) November 6, 2012
Shhhhhh….the chicken is still coming. $PPC pic.twitter.com/arzt2f1f
— Raul (@IndexModel) November 7, 2012
$PPC has been doing the turkey trod for weeks, opting for the die slow short squeeze.
— Raul (@IndexModel) November 19, 2012
$PPC just.wont.quit. SHORTS: now you's can't leave ARISE pic.twitter.com/JGZLkV0o
— Raul (@IndexModel) November 21, 2012
Scales 1/3 $PPC pic.twitter.com/OgblJY0N
— Raul (@IndexModel) November 23, 2012
Oh my chicken, shorts getting their SPINES BUSTED SLOWLY in $PPC ARISE! pic.twitter.com/BCY4UWhZ
— Raul (@IndexModel) November 26, 2012
I am 1/3 left in $PPC, what a rip.
— Raul (@IndexModel) November 27, 2012
It can be challenging to hold winners. Pressing a large position is one of the keys to earning money in the markets. Sometimes a sick sense of humor fits the bill for staying power. Sense of humor and a nine day EMA BEHOLD:
The coin was banked as is to be expected, and was done in the style of our founders: with honor and dignity for the fellow reader while crushing the spines of the opposition.
“I eat more chicken than any man ever seen, yeah” – Jim Morrison, Back Door Man
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I loved the $PPC rants…high comedy, especially if you are familiar with the content.
I fairly certain you’re the only person who recognized the content. And I’m positive you’re the only one to aknowlege it.
Good luck EM!
I’m mature like that.
Best of luck to you as well.