I told you there wasÂ top in Ag, in this post: I’m Calling a Top in Agriculture.
IfÂ youÂ had shorted, the next morning, every stock charted in that post, everyÂ position would be in the money.
Today, [[MOS]] and [[POT]] closed just beneath their 50 day averages. IÂ think there are stillÂ some asshole dip buyers out there. My recommendation is to wait to short those names. One of two things will happen. They will make a run towards highs again, or they will break down further. I’d like to see a breakdown, and then an oversold rally back to the 50 day, before getting aÂ big short position in either stock. These big momo names will often “rage, rage against the dying of the light.” Better to let the “heros” put their accounts on the line. You want to wait until they are weak.
The following stocks are weaker ag. names andÂ should be sold with a vengeance.
I would like to sell these tomorrow, but options expiration makes me a tad nervous. Any opinions on trading tomorrow vs. Monday?