127% institutional ownership of SAFM. It seems the institutions are loaning their share to the shorts for income. But the reversal can come at any time. I haven't enjoyed the price action here. But I have no qualms with buying here. Average down. This also seems to be the level where Joe Sanderson feels comfortable buying back stock too.
Thanks Atty. My next speculative stock is Anth. Many unique drugs nearing completion of clinical trials. Also a takeout candidate. Must have skin in the game. As always message board advice is worth what you pay for it
SAFM is a well managed growth company within a cyclical industry. The question is where are we in the cycle? Even with depressed pricing for dark meat SAFM is generating record profits. You could argue with China and other countries blocking chicken imports due to influenza that we are not at the top of the cycle and their is still room for improvement once the export market is open. Exports represented 10% of SAFM's sales and more for other producers.
Not questioning, the numbers aren't in doubt. Kyth is up strongly today. The market is moving into banks and insurance companies who will benefit from increased rates. I'm adding to AIG and WRB. BAC and JPM have been wonderful friends!
Hope you are having a good day Atty. Looks like a lot of rain moving up through the Gulf.