Below is a few activities and some thoughts on the following stocks/positions:
FXE - I road the decline from 138 to current levels. With more certainty coming out of the EU regarding what they will do, there maybe a 'buy-the-news'. I, like everyone else, knows the Euro will decline. (Its mathematical economics.) I am just taking profits. If it rallies, I will look to re-purchase 135 Dec puts if it sees 135 or high 134.
crop reports were bearish because of better yields, and "rationing" by consumers. This could lead to a lower than expected Potash pricing, and with Mosaic's increased expenses, I am sure that is the pressure on POT. But, POT usually trades with a higher trailing PE. There has been a severe multiple compression giving POT a trailing PE of 16, and single digits forward PE. The stock is pricing in a negative eps rate, but I think the discount is over done. It also retraced its "buyout" offer. It may take a quarter or two to wash out the assumed negativity on the potash market.
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