8/5/08

Still Waiting to Buy POT

I wrote not too long ago that I'd wait for a 15% discount before buying Potash of Saskatchewan (POT). Today it's trading in the low $170s, right around my target entry price. As there is still a possibility of a labor strike, I'm going to wait a while longer to see if there will be a better entry price. It would be neat if I could get in at $150 (provided it doesn't keep dropping after that, of course).

If a strike does occur, there may be a short term increase in potash fertilizer prices. This may benefit POT's competitors, like MOS and IPI.