Quote from Jason Edwards:
Interesting...Do you still think that "anyone long PNRA into earnings is smoking crack". You didn't answer that...
Do you trade any of the stocks you suggest to ET members not to own unless they smoke crack?
Please try to focus on the subject of the question. I know it is hard for you...
Your fixation is showing. You have clear stalking tendencies -- following me around on multiple threads -- and you are grasping at straws.
And yes, I do still think it would have been incredibly dangerous to hold PNRA into earnings. Consider:
* The stock was at a dangerous technical juncture at the time of the chart posting.
* CMG, a reasonable comparable, had gotten smashed on slowing same store sales and the threat of rising organic food costs via drought.
* PNRA actually DID have a stomach churning drop following my posting. On July 20th, the day of my post, PNRA closed above 150. The NEXT DAY it gapped down, and proceeded to trade sharply lower - touching below $139 pre-earnings -- before turning around on a surprisingly good result.
Notice I never said "trade PNRA into earnings." In swing trading, we don't take heavy directional risk into earnings as a rule, that's gambling.
What I said, in the colorful language I chose, was that holding PNRA into earnings was a serious risk. And it was. The fact that PNRA pulled out surprising strength is great for them, great for PNRA bulls. But that doesn't change the fact that, given the situational dynamics, the observation was correct (PNRA = seriously risky hold ahead of earnings given foreshadowing of CMG and overextended technical position).
But of course, you don't really care about PNRA. Your goal is to scroll back through everything I've said and try to find something that didn't work out so you can jump on it. In this you seem not to understand how trading works, or how risk management works. The best traders in the world are wrong half the time. Stevie Cohen once said his best trader ever was only right 65% of the time. This is a game of skilled judgment and risk management, not being right every time.
But of course, you aren't playing the trading game. You are playing some weird point-scoring game where you are attacking me because I defended my friend Peter Brandt (whom you seem to irrationally hate) and questioned the value of your anti-TA screeds...
p.s. As for trading, yes. We eat our own cooking, and have the majority of our own liquid net worth in play. As for PNRA, there was an observation of risk, not a recco to trade it.
