Wednesday, October 22, 2008

Oil is Going Down to $25 or less

Well, that's my gut-feeling prediction for the price of a barrel of oil when it hits its low point this time around.

Meanwhile, Bespoke Investment Group highlights a Fibonacci Retracement chart of oil since the low of $16.70 that it made in late 2001 and Chart of the Day showcases an inflation-adjusted chart of oil since the 1970s.

Saturday, October 11, 2008

Broke Even on POT

Just a quick note this weekend:

I sold my Potash shares earlier this week to break even. The fluctuation in its share price of late can only be described as wild so I got out and hope to get back in at a lower price.

Happy Thanksgiving everyone.

Saturday, October 4, 2008

Buying on Rumour, Selling on News

After Thursday's collapse in its share price, Mosaic shares recovered a bit with the rest of the market before the big Congress bailout package vote. Once the Bill was passed, most stock prices dove.

Luckily, I had decided to cash in my quick profit in Mosaic just before the vote in the fear that the expected passing of the vote was already priced into the little rally earlier in the day. Surprisingly, I was right! Well, at least in the very short term. It should be another interesting week next week.

Yesterday's Action:

Mosaic Company (MOS-N)
Close $40.88 (+$1.23, +3.10%)
Open $41.95
High $45.07
Low $39.66

Thursday, October 2, 2008

When There's Blood On The Street...

it's time to buy fertilizer stocks. Well, at least that's what I ended up doing today, with purchases of Potash Corp and Mosaic Company shares today. Both stocks took big hits today so we'll see how they pan out in the days to come.

Today's Data:

Potash Corp. of Saskatchewan (POT-T)
Close $101.00 (-$35.50, -26.01%)
High $116.00
Low $100.00

Mosaic Company (MOS-N)
Close $39.65 (-$27.86, -41.27%)
High $52.59
Low $39.41