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Thursday, June 30, 2011

ag numbers

The head line Ag numbers are bearish. This is allowing POT to decline today. (This is also good for the short-term food inflation, which is good for the economy.)  But the macro-trend for Ag is still very much intact, and the sector will continue to need fertilizers/potash at a demanding pace.

As per the technicals, POT has turned with support near 55, and should continue its test to the negative trend line.

I added with the AM weakness.

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