My biggest non-ETF equity short is the most boring-sounding: Pepsi Corporation (PEP). It’s actually a honey of a pattern, however, having hammered out a beautiful and massive rounded top spanning nearly half a decade (!).
They reported earnings this morning, and with the market in general up strongly, PEP is down nearly 3%. I’ve added to the short, and I could easily picture myself holding on to this position for many months. The lifelong trendline has been clearly broken:
Let’s have a bit of music from the boys to celebrate this victory!
