Tuesday, May 03, 2011

Ag support

Back to stocks:
We like to buy support when a whole sector hits it simultaneously (in our experience it increases the odds of success exponentially) –  several of our favorite Ag stocks (POT CF AGU MOS) are looking like they want to test their respective 200SMAs.    Let’s take a look:

MOS is the closest one — we’ll probably try a day-trade there but don’t really expect it to hold for too long.

We like CF near 120 — 200 SMA  and daily support.

AGU is on trend-line now — again, we think this will break and eventually could test the 83 zone.

POT we like 51 for a trade: