Thursday, October 02, 2008
POT prices drop
The pullback in shares of agchem stocks extended today, dropping Potash Corp (TSX:POT, NYSE:POT) 20% in early morning trading. The market reaction to Mosaic Co. (NYSE:MOS) first quarter profits - which were up almost 300% - showed just how high expections were, and how the market views the global economy going forward. MOS dropped over 33% in morning trading. MOS is a current Stock Trends Bearish Crossover stock, while POT is most defintitely on the verge of the same. No mystery here - these stocks are in a bear trend, no matter how "undervalued" global boom bulls would have us believe.