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

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