Wednesday, April 14, 2010

Ag talk

Ferts have been stinking up the joint for a while but today looks like bottoming action. For you value type dudes entries here with stops close to today's lows offers a good risk-reward trade.

Note how the price action has been pricing in today's downgrades for weeks. Never ceases to amaze us how irrelevant analysts have become. We wrote a while back on the RIMM break-out that the least successful break-outs occur due to upgrades (best are earnings), and most likely it holds that the most successful bottoms are on analyst downgrades.

MOS held the 200SMA

CF again held the 200SMA

AGU found footing on the 100 SMA