SJ's Stock Market Blog
I like POT
Posted Jul 2nd, 2009 at 02:06 PM by StockJock-e
Tags agriculture, dba, pot
Thats right, I like POT, and the endless jokes that follow every time somebody talks about that ticker 
Here is the scoop: POT came out and announced some horrible Q2 guidance. The stock took a big hit, touching $87.20. Even with that bad news, POT still held the uptrending support from the December 2008 low, uptrending to the March lows.
Today we got word from Russia that OAO Uralkali, Russia's second-largest potash producer raised prices demand for complex fertilizers went up.
POT retested 90.70 yesterday, so its safe to say that $90 is a pretty sweet stop loss level.
Ag stocks are the ticket heading into the second half of the year. We also have a ETF you could consider, DBA.
As for the Agriculture ETF, using 24.50 as a stop loss, we can try catch the uptrending support with a fairly good risk/reward play.
Here is the scoop: POT came out and announced some horrible Q2 guidance. The stock took a big hit, touching $87.20. Even with that bad news, POT still held the uptrending support from the December 2008 low, uptrending to the March lows.
Today we got word from Russia that OAO Uralkali, Russia's second-largest potash producer raised prices demand for complex fertilizers went up.
POT retested 90.70 yesterday, so its safe to say that $90 is a pretty sweet stop loss level.
Ag stocks are the ticket heading into the second half of the year. We also have a ETF you could consider, DBA.
As for the Agriculture ETF, using 24.50 as a stop loss, we can try catch the uptrending support with a fairly good risk/reward play.
Total Comments 1
Comments
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Heads up on DBA, breaking out of consolidation near the support.Posted Jul 30th, 2009 at 05:35 PM by StockJock-e 
