Stocks rallied today and on stronger volume, too. POT really gapped up, today, almost 28%. It looks like BHP Billiton made an offer, but it wasn't good enough for POT, so expect a bidding war. Not to be outdone, Agrium (AGU) also rallied during the day today, but closed in the lower half of the trading range. I would have like to have seen AGU finish the day stronger. That being said, I still really like this stock. If it can close at or above $69.20 on strong volume (preferably about 1.5 times it's average daily volume), it would be a good one to hold going into the end of the year. My target on this is about $72.
I still think the market has a mild appetite for moving higher at this point. I'm using caution before entering into any long stock positions right now. It seems like this market is still very news driven, so I expect a lot of volatility. Don't be afraid to use your stops.
Obligatory disclaimer: Past results do not guarantee future performance. The suggestions above are simply suggestions and the blogger is not liable for any losses incurred as a result of actual investment activity on the part of the reader.
Happy Trading!
Tuesday, August 17, 2010
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment