In December 2011 CF's share price fell to $130. Then the price rocketed up to $190. within 3 months. CF currently has a lot of 'Buy' recommendations. But if we want to 'Buy Low' and maximize our profits in the Spring and Summer of 2013, how low might CF go in these fiscal cliff deliberations? I will appreciate the advice and comments of my fellow Colleagues and CF supporters. Thank you.
I love this company and its future but sold my position on friday. It appears to me that the stock price and fertilizer prices are strongly correlated to grain prices. Grain prices are in decline and I look for cf to decline as well. I'll be looking for a reentry point at a much lower stock price. Perhaps this is a simplistic outlook but the uncertainty in markets, etc. will delay and modify farming decisions.
It's just that Biderman has indicated that companies are no longer buying back their stocks as in the past. Is this company still buying back shares. Doesn't look like it? Those "buy" recs are "buy-the-falling-knife-recs". The indexes are still falling, however slowly. CF has hit another "shelf" along it's 200dma. I don't think it will hold, but we could see a pop to $200/sh before it slides.
Value-buyers best sit this out till there is a tradable bottom.