We have to buy a stock for one of our four paper trading accounts (we continuously practice and experiment our craft). In this edition we feature Mosaic Corporation. Its entry point is 74.25 using the Darvas system (breakout). I do not think we can get in but we will try. It is clearly breaking out of a double bottom formation. If you are interested, and entry point can be obtained when Mosaic is close to the bottom of the ascending trendline.
In another note, the petroleum group (energy) is trending these days. I have been getting hits on different systems for that group. Anardarko Petroleum (APC) is up 6 percent this morning.
Mosaic (MOS): The Mosaic Company (Mosaic) is a producer and marketer of concentrated phosphate and potash crop nutrients for the global agriculture industry. As of May 31, 2010, the Company operated through two business segments: Phosphates and Potash. The Phosphates Segment produces phosphate-based animal feed ingredients in the United States. The Company sells phosphate-based crop nutrients and animal feed ingredients throughout North America and internationally. The Potash segment produces and sells potash throughout North America and internationally, principally as fertilizer, but also for use in industrial applications and, to a lesser degree, as animal feed ingredients. The Company serves customers in more than 40 countries. As of May 31, 2010, Cargill, Incorporated owned approximately 64.2% of the Company’s outstanding common stock. In December 2009, the Company sold its Thailand distribution business to I C P Fertilizer Co., Ltd.
MOS Stock Market Chart for 12-30-2010
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I am a dad, professional engineer, MBA student, and a financial fanatic. I can help you make money in the stock market. I use Fibonacci techniques for retracements and targets, technical analysis, some little fundamental analysis, and automated systems trading. I also trade options. In addition, I use CANSLIM to get neat growth stock ideas. No fluff and no BS.
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My opinion is that we should sell this stock. It is based only on the technical analysis. I may be wrong of course, it’s just a quick glance at the chart…
I agree with you, we should take a short for a long time, because as you can see well at the blue moving average, that is still flat, that indicates the market is on sideway condition..