Sectors Benefiting from BRICs' Growth [View article]
While I respect your thoughtful commentary and do not dispute the notion that Potash and Monsanto will eventually rise, now is not the time to be purchasing shares of either. In regards to Potash, it looked like it be forming an inverted head and shoulders pattern, but then the price crashed back down. POT looks like it will be retesting the 60.
Due to the huge speculative bubble that occurred this summer, it's possible that there has been an over reaction to sell. That does not mean I want to step in and start buying Oil contracts or USO. The down trend is still intact. Markets are driven by the actions of emotional people, not by logical machines. Who is to say we won't see $10 oil or $200 oil? All I know is that it looks like we continue going lower.
If I recall correctly, he claimed this would be a "run of the mill bear market," or word to that effect. I don't think he was banking on a forty percent decline. Great call, swami.
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