The Demise Of Papa John's Pizza - Part II

I first talked about Papa John two months ago,

The Demise Of Papa John's Pizza

May conference call, Schnatter was asked how he would distance himself from racist groups online. He responded by downplaying the significance of his NFL statement. “Colonel Sanders called blacks n-----s.”

I’m sure you know how the rest of the story goes based on those choice words, but if not, here is a quick summary.

Source

I that same post, I also talked about trading being about probability, that the chart below suggested the wick to the left denoted buyers, further supporting the case for the monthly demand level at $40, but felt there were better opportunities to risk hard earned capital.

In trading, you have to take personal accountability for your actions. Don’t blame CNBC, the market maker who was looking for your stop lost, the publication you received in the mail that side to buy that penny stock now or miss out, the recommendation in that Yahoo article or what I think the charts are suggesting...blame yourself. A trader who holds him/herself accountable accepts every outcome, win, lose or draw. Personal accountability is an act of showing readiness to accept whatever is about to come next. Personal accountability allows you to be in control of your reactions.

The trade set-up did work out and price is in the weekly supply at $52 is now.

But that’s because trading is about probability. More importantly, it’s about personal accountability. When you read my posts or other posts on this blockchain, do you take the recommendation and trade it right away or do you do your own research? And equally important, does the trade-set up fit within your trading plan? Because at the end of the day, don’t blame CNBC, the market maker who was looking for your stop lost, the publication you received in the mail that side to buy that penny stock now or miss out, the recommendation in that Yahoo article or what I think the charts are suggesting...blame yourself.

John Schnatter appeared in court on Monday to testify against the Papa John’s board stating that the board didn't back him in clarifying controversial comments he made about the NFL last November. I guess he can’t go down without a fight, Schnatter still holds a 30% stake in the company.

Also in recent news, Legion Partners, a California-based investment firm, disclosed a stake of 1.7 million shares in the Louisville, Ky.-based pizza chain, calling the company “undervalued” and “an attractive investment opportunity.” Does this mean Papa John is a buy? Is price going to move to the Monthly Supply at $60 above current price? There is a lot of uncertainty about the future of Papa John’s, will the new CEO turn things around? I have no idea...trading is about probability.

This post wasn't meant to be harsh, but it was my reality and maybe it's your reality or was your reality as well. I personally had to learn the hard way trading being about probability over time and still learning (yesterday while trading the NQ futures, I didn't follow the plan and missed out on a 80 tick move). I also, got to the point where I started taking accountability for my trading as well. Yesterday was a lesson in just follow your trading plan, win, lose or draw. I accepted my actions and moved on. So I created the below statement, which I remind myself of almost every day because trading in its truest form is psychological warfare.

TRUST THE PROCESS, ENJOY THE JOURNEY, SURVIVE TODAY, FOR AN OPPORTUNITY TO PUSH UP TOMORROW.

This post is my personal opinion. I’m not a financial advisor, this isn't financial advise. Do your own research before making investment decisions.

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Published on

by rollandthomas

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