Today closed well above 200 day moving average. Also, the 50 day moving avergae has turned up, and will very soon (in days) penetrate above the 200 day average. This is called a "golden cross", and is bullish. Third, the relative strength interest has become very positive, near 80, meaning POT is in the top 20% of companies in price performance. Fourth, volume has picked up sharply, meaning new & big money is coming in. The fundamentals are also improving, with talk of a resumption of the Potash cartel. Also, ag prices have recovered, meaning very good demand for fertilizer.
Conclusion: POT will probably soon get above $40, and maybe $50-55 area.
$38-42 price for CORN expected soon say sources.
I would have said that before $19 billion bid for a company with 50 employees and little revenue, and now the Ukraine black swan. Anyone holding after Monday open should have their head examined in my humble opinion.
Will the Russian stock market even be able to open? Seems like a deluge of sell orders there.
Will impact U.S. markets negatively as well.
Congressman Schiff was on CNN today and said economic sanctions & trade embargoes for Russian exports are likely.
Uralkali exports blocked?
Either for consultation, or a break in diplomatic relations. Will U.S. be next? Uralkali exports will be embargoed in all likelihood.
Also, the Europeans & U.S & Canada may blockade exports (including potash) from Russia, if the invasion continues. POT will control the market.
page 29, Tech Week column by Tiernan Ray
The same tech star who was recently propelled on his own vibrant growth path is now paying through the nose, rather like a vampire sucking the blood of the young to stay vital, because at least some of the traffic is going somewhere else."
Well if some stupid startup with 50 employees called "Whatsapp" can fetch $19 billion from Facebook, I guess you can say $34 bil is rational.
DON'T SHORT A SPIKE, OR EVEN THE INITIAL PLUNGE. Wait until there is a recovery rally that fails (right shoulder of a "head & shoulders" pattern).
At least take some profits! The King of Wall Street says take profits!
No position here, but I have never seen a move like this that didn't end in a crash. Problem is, no telling how high it goes before the plunge--$300 $400? $500?