Trading Update: POT
If you're new here, you may want to subscribe to my RSS feed so you don't miss anything. Thanks for visiting!
On Feb 15 I recommended buying Potash of Saskatchewan (POT) Calls. I picked up 3 Sept 145 Calls @ $29.50 that day.
Today those calls are trading at $37.50 for a gain of 27% in 8 trading days. I have a paper profit of $2,400 on an initial $8,850 investment. I plan on holding these until June or so.
Jump In?
Don’t chase the stock, but do try to buy on dips as I recommended in my prior post. It doesn’t offer you many chances, but you may get an intraday dip opportunity. I’m still bullish overall and would recommend purchasing a longer-term Call instead of the actual stock for some added punch to your return. For example, had I purchased the stock I would have realized a $350 gain or 11.8% vs $2,400 or 27% on my Calls.
Pick or Pan?
So far this has been a pick, but until I cash out it is only a paper gain.
- Trader Update: The Breakout Trifecta - 06/11/08
- Breakout Trifecta: POT, V, AAPL - 06/05/08
- Potash - Trading the Good Stuff - 04/07/08
- Surprise: Pot is good for you - 02/20/08
- Trading the Microsoft/Yahoo! Buyout Showdown - 02/11/08
Nice trade. That’s a pretty heft profit you got there lol.
Hee hee…I like that ticker symbol. It has been a while since I have played around in the stock market, but if I didn’t know any better, I would be tempted to think that this company is involved with the cannabis or hemp industries.
how about COIN, converted organics
another Ag in play.
it’s more volatile than POT, potentially higher profit
POT is a stronger company in my opinion. COIN is good for trading, but my POT is doing well for me.