I mentioned the action in Monsanto (MON) yesterday being appealing; the stock continues to impress today ... rallying during the market selloff. I thought a move over $56 would lead to the potential to mid $60s and we are now here at $56. I am going to restart an exposure in this name with a 1.65% stake but since we are generally hostage to the greater market I'd like to see the S&P 500 clear 1100 before adding more. It's had a heck of a move without a rest so the main worry is it needs to consolidate a bit and I might be chasing a bit.
This is our first time back to the Bad Boy of Seeds since April 2009.
Long Monsanto in fund; no personal position
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