Dan Schmeidler

Ten Reasons Why I'm Waiting to Buy PotashCorp

Looking at the POT chart, I am going to have to agree with this article with respect to a potential downward POT stock move. A lot of the commodity stocks (granted, outside of the AG group), have recently visited their 200-day moving averages. Many experienced sharp and sudden declines from their 50-day averages. The recent sell-off in POT to just below its 50-day moving average, could be a sign of the markets setting itself up for a further downward move. Certainly, a move back up to $220 is a possibility, but then, market expectations would be to break a new high above $240. If a susbstantial move above $220 fails, look out below: $160. And who is not to say that the world's rampant carnivores, might opt for a healthier diet of fruits and vegetables for a while.