Tuesday, November 17, 2009

Potash (POT) Could be on the Verge of a Breakout

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

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