5 years ago
Monday, October 11, 2010
TYSON FOODS TSN
Tyson is a big meat producer, because of global weather and a few other reasons, grain based commodities that are used to feed farm animals like Tyson's are geting very expensive. I had a friend raising... well I won't say, but he had a huge production that was shut down in 2 months due to grain prices jumping. The profit margins just weren't big enough to absorb it.
Normally I'd think this was a false breakdown from a bullish chart-descending wedge, but I think this is the real deal. It's broken support, if you go short here, your stop is only about $.50 away. I think TSN is worth a shot here. It may see a bounce due to the amount it's dropped so quickly, you may want to figure in a wider initial sop until it starts trending down, then it can be tightened and more shares added.
3 comments:
I know you'll like this Brandt:
http://online.wsj.com/article/SB10001424052748703431604575522434188603198.html?mod=WSJ_hpp_MIDDLTopStories
Thank you. Legal? Wow. Maybe by law, surely not in the spirit of the law. As far as I'm concerned, that's insider trading, but that's just the tip of the iceberg. The SEC makes an example out of a high profile person like Martha Stewart, but what she did, a 100,000 no name Wall Streeters do every day and the SEC turns a blind eye to it unless they want another financial crisis by going after these people. It's a shame. There are real people who believe in the market, they'll get slaughtered every time.
Thanks for the link Mr.Pink
Congress and their staff being exempt is totally in keeping with the spirit of the law.
Opps, that cynicism again.
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