Finally an opportunity to buy more....nothing has changed at all, and no stock goes in a streight line. The chart guys could likely tell us we are in for a 50% retracement, which would be normal and helthy only to retest the recent high. So if the floor was around 80 cents, and the high is 2.30ish, that is a buck fifty, and a 50% retracement would take us to $1.55. This should only be seen as an opportunity. I am not a chart guy, so was happy to buy agressively today.
PPI has been running hard as well, so if anyone still does not believe that potash is this years story, then you need to keep reading. We are en route to a revised 43-101 in a couple of months, and I am sticking with $5 at that point....not so crazy a number now eh! (Cnd punctuation inserted).
Today was certainly caused buy someone shaking the tree, dump hard and quick and take out the stop losses, create a sense of insecurity, as evidenced buy every board, and in the end, we move forward. They sell a million at market, and then buy two million at a lower price average. or some junior trader is tidying up his new resume.
tomorrow morning could be another great opportunity to buy more, as news of price action hits. People who bought at 50 cents, may be happy with 1.50, and I for one will have orders placed and fingers crossed.
This is simply an opinion and view, the genius I am was selling a little in the 1.60 range last week, convinced I could get back in cheaper. For disclosure purposes. :((
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