Very choppy day but as predicted the agros are on fire and bouncing from the last two days of selling. I am very afriad to say this but oil looks like it doesn't want to pull back. The big tech stocks are flat to weak today, we need to monitor this group next week as they are now in overbought territory and might be good short candidates.
Today very choppy with light volume, my best guess it that next week, since it is end of month we should get some good movement.
FNM approaching $30 again. Watch for that on the short side again..
Friday, April 25, 2008
POT
POT (Potash) has been on a bullish trend and this morning JP Morgan has raised EPS to $18.50 from $11.75. I can't recall ever a firm raising target 50% on a stock and this must be seen as extremely bullish.
The stock has pullback the last two days but I expect POT to see all time high next week on this news. Also watchfor the other agros like, MON, MOS, AGU of the world to have a good day and test their highs.
Lets see if we can push higher today again into the 1400 level and see if we reject it again. If we do that would been a second failure for the bulls to push us over the edge higher.
Watch MA and V today, after AXP good earnings yesterday evening these might get some buying.
The stock has pullback the last two days but I expect POT to see all time high next week on this news. Also watchfor the other agros like, MON, MOS, AGU of the world to have a good day and test their highs.
Lets see if we can push higher today again into the 1400 level and see if we reject it again. If we do that would been a second failure for the bulls to push us over the edge higher.
Watch MA and V today, after AXP good earnings yesterday evening these might get some buying.
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