Wednesday, March 4, 2009

Potash (POS), Mosaic (MOS), Intrepid Potash (IPI) Come Under Pressure After Talk of Uralkali 25% Price Cut

Just another example of how quick and nimble one must be to lock in fleeting gains - Potash (POT), Mosaic (MOS), and Intrepid Potash (IPI) are all reversing (from very large gains) on news Russian miner Uralkali has cut prices to Brazil by 25% in 2009

Via UK Reuters
  • Russian potash miner Uralkali said on Wednesday its Belarussian export joint venture has cut the price of supplies of the soil nutrient to Brazil by about 25 percent from March to May 2009.
  • Belarusian Potash Co (BPC), a joint venture between Uralkali and Belaruskali, will charge $750 per tonne for potash deliveries to large Brazilian importers and $765 per tonne for shipments to smaller customers. The previous prices, applied since July 1, were $1,000 and $1,010 per tonne, respectively.
I added to Potash on this news; I'm thankful I took a large slug of Mosaic out this morning at much higher prices. Bulls want to see Potash hold $75 and Mosaic $37s (50 day moving averages) - Potash is right at $75 now. Aggressive buyers can enter Potash here with tight stop loss...

(EDIT 12:06 stopped out of Potash just tried to buy under $76, at $74.90s) :)

Long Potash, Mosaic in fund; no personal position

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