Yesterday I discussed the possibility that portfolio managers may now look to the agriculture-related stocks to play catch up vis a vis the metals and energy stock rally.
Guess they were thinking just that:
|Industry Top Performers|
|Intraday Price Performance||% Change||Market Cap|
|AGRIUM INC. [AGU]||+7.31%||$8.4 B|
|POTASH CP SASKATCHEW [POT]||+6.17%||$28.8 B|
|CF IND HLDGS INC [CF]||+4.36%||$4.4 B|
|MOSAIC COMPANY (THE) [MOS]||+4.01%||$23.0 B|
|TERRA NITR CO LP [TNH]||+2.78%||$2.0 B|
Granted, the overall market is enjoying a fairly broad rally today and Potash (POT) caught a nice bump from a bullish Gene Marcial column in BusinessWeek (is there any other kind?).
It remains to be seen how this volatile group will behave on a down day for the market and whether fund manager accumulation of this sector will continue should the dollar firm up.
Here’s my commodity piece from yesterday:
And Gene Marcial’s love letter to Potash:
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