Kelly: Bought MOS

| About: The Mosaic (MOS)

Wednesday afternoon I bought a small position in (NYSE:MOS) at $90.59 after the Fed decided to cut interest rates by 50 basis points. This is in keeping with my thoughts yesterday that a 50 point cut provides support for the inflation thesis, and MOS is poised to benefit from agricultural inflation.

However, having watched the reversal this afternoon, I am not all that enthused with the market action following the cut. I’m still trying to discern the near term implications of the reversal, and I’ll have more later this evening after I have more time to ponder where we go from here.