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IPL - I Punt Low

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Is IPL still a good bet for long? Read this and find out more....

Mosaic Co., North America’s second-largest fertilizer maker, slumped the most since March 2 after German rival K+S AG said it expects a “further significant reduction in revenues and earnings” this year, citing continued “extraordinary weak demand” for potash fertilizers.

Mosaic tumbled 9.7 percent to $46.25. Potash Corp. of Saskatchewan Inc., the world’s largest maker of its namesake crop nutrient, slipped 11 percent to $95.59.

In another news a few weeks back, the Russian supply was reported to be facing poor demand too.

Time for caution with this one, I reckon.
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  1. kennas's Avatar
    I agree short to mid term poo companies are under massive pressure. NUF came out with reduced earnings guidelines a couple of days ago too.

    I've taken a punt that their sell offs have been overdone, and IPLs break up through 2.50 was the first time the market agreed. But, it's failed, so I'm at a bit of a loss at the moment.

    Long term should be ok from these levels. But, there's every chance we could see it halve if the unemployment globally goes ave 12%.
  2. haunting's Avatar
    From memory, IPL seems to have paid a very high price for the current stock of fertiliser. Also I have read the local farmers were complaining about IPL in passing this mistake to them, in the form of high priced "poo''. A 6 cents bounce at the moment.
  3. haunting's Avatar
    A follow up on IPL - low at 2.24 today, any short term bounce from here will be a sell, otherwise, you are looking at 1.98-2.00 next down and then further drop to 1.75. If there's a cut loss level, it should have been exercised by now.
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