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1 Comment
RBC Defends Potash Corp.'s Valuation: $200 POT? [view article]
I am long pot and as i watched my streaming quotes yesterday morning,in what seemed like a nano second, they took pot from 205 to 190 dropping a dollar on the bid each time,or so it seemed as it happened so fast.To me,it looked like 2 things were going on 1-they were taking out all the stop losses down to 190 and 2-they were scaring the nervous longs into giving up their shares on the cheap.The exact same scenario occured following their previous earnings report.
This company has great management and is in the sweet spot of a very profitable and long term industry;the fundementals are solid and the company is executing as one can see from their report.Spot potash prices are surpassing $1000 for the rest of the year;canpotex is expanding it's facilities and potash corp. is expanding its future production capacities.
Analysts put prices of 275/300/350 and so on,but these are just numbers.Remember the qcom days when the infamous $1000 price target was put on its head.I remember watching qcom go from $500 to $600 on the day that that price target was published;but alas,those were the good ol dot bomb days.
This stock is worth a lot more than $200/share.Unless the fundementals of this company/industry change,just put your shares under the matress and you will be handsomely rewarded.I have held my core position now for 8 months and will continue to hold on as there are not many better places to invest than in this company.
For the day traders out there,or the "investors" with a short term horizon,be careful as this stock, as you well know, has violent swings;for the shorts out there,please short more as you will ultimately aid in pushing the stock higher.Back in the dot bomb days,i had a friend who was short amzn.One morning a highly regarded analyst put out a ridiculous price target on the stock;by the time my friend could cover that morning he had lost 80 points.
So net/net,long term this story only gets better;short term,anything can happen in these markets.I don't buy and hold many stocks,but pot is a keeper Jul 25 09:25 PM