Fertilizer stocks were some of our huge scores in 2007 and first half 2008; specifically Mosaic (MOS) but Potash (POT) was another huge winner. While Mosaic remains comatose, Potash might finally be ready to join the commodities party. I have been observing a double top area in the $106 range; a breakout over that level could lead to a much larger move. As I type this Potash has just broken over $106....
Might be adding this name later in the day, pending its action (and the market's) in the hours to come.
EDIT 12:40 PM - Long 2% allocation of Potash on a break over $107.
Long Potash in fund and personal account
Tuesday, November 17, 2009
Potash (POT) Could be on the Verge of a Breakout
Best Of FMMF
- 1: Warren Buffet Piles on Europe
- 2: [Video] Jim Chanos Returns from Europe, Even More Bearish on China
- 3: A Chart to Open Our Eyes - Staggering Changes by Multinationals in Employment Behavior 00s vs 90s
- 4: Futures Blasted on Dexia Woes... and Poor Preliminary China Data
- 5: Market Working to Worst Thanksgiving Since 1932
- 6: Et Tu, German Bonds? Poor Auction Raises Eyebrows