Long time readers will know this is about the 678,211,121st (give or take) time I've cut back the fertilizer names as they break support at the 50 day moving average, only to reverse on me within days. [Jul 7: Cutting Some Fertilizer Exposure] I even wrote in that entryHistorically you want to buy them when they touch the 50 day moving average since they bounce, but with the market acting so poorly we could get some washout action.So ONCE AGAIN - I am repeating the same pattern, and with egg on face buying back what I sold - luckily I sold right near support so we are paying almost the same price to get the position back. It would of been nice to of bought on yesterday mornings dip but I was greedy ...

Agrium (AGU) the smallest of the 3 major potash producers in Canpotex is out this morning with increased guidance - expect the same from Mosaic (MOS) and Potash (POT). This is leading the sector higher with AGU up 9% in early trading - keep in mind unlike the other 2 names mentioned, Agrium has a large retail component. Essentially they've taken their own lowball guidance up by around 80 cents, and now are firmly over the analysts $2.50. Looks like analysts are *still* behind the curve even after making huge upward revisions the past 60-90 days, once they saw the writing on the wall - writing we were urging them to see last fall [Oct 23: Analysts Still Doubting the Fertilizer Stocks] I wroteFolks, I am not a full time fertilizer analyst working for a major brokerage (in fact the ...

I don't have anything earth shattering to report on these sales, I just want to build more cash and lock in more profits in my layer in, layer out approach. These are names I have not taken any profits on of late, so I am going to begin now. Mechel (MTL) always seems to lag the other domestic names in iron/coal etc by a few days, so its finally making its move, so I am taking a bit off here; same with Cleveland Cliffs (CLF) which despite an "ok" quarter jumped post earnings - it seems people are willing to excuse any bad results in anything in the steel (or related) sectors at this point, and a bit off National Oilwell Varco (NOV). I reversed this week's earlier buys of Potash (POT) and Mosaic (MOS) for small losses (yes I'm a flip flopper - the charts looked ready for ...

Looks like the "fertilizer correction" is over. Adding to all 3 of my names on their bounces off support; actually like the Potash (POT) chart the best here, but they all move together. I love this market. Uncle Ben has apparently created so much money, but none of it goes to people who need it out on Main Street. Instead it is flooding Wall Street pushing up equities (along with commodities) :) Kind of perverted but we all thank Uncle Ben as investors, as we curse him at the grocery aisle. $122 oil? No problem. That only affects US consumers - stocks are independent of the "little people". (X amount of stock) versus (Y amount of money supply x 20% annual growth rate) = prices go up. Economics 101. Equities are simply another commodity at this point, it appears. Every other commodity is going ballistic ...