J.M.,
Still holding. There has been some short term negativity re: PRICE. If you take a look at a Weekly & Monthly chart, price still above MA(50) & MA(150). Long term trend is still positive!
I have decided to sell 1/2 my position with a break below MA(150).
POT is currently working on a big expandion in Canada.
Is it running out of steam? Maybe, I am watching it close, I still think it has legs.
Right now it would be a guess if it is going into Stage 3. We will not know that until the next move. I am not going to try and guess. Profit taking? Consoladation? Distribution? Only PRICE will tell.
I do not think this is an area to add to your position or buy it currently.
I love this sector (Fertilizer). Please see:
Barchart.com: Online financial quotes, charts, and technical analysis for stock and commodity traders. Click on
Sector. You'll see Fertilizer holding strong.
Additionally, check out CF, MOS, SQM, TRA, AGU & TNH for opportunities that are more reasonable than POT.
"Market Edge" seems to agree with me. See their very important indicators (BR=BEARISH), & MA summary. I am looking at the current price action as a short term hiccup.
"Market Edge" report:
filePOT.pdf
Please click on chart:
I hope that helps! Best of investing.