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SQM Slammed Today

CharlesCharles
edited July 2013 in Off-Topic
image

In face of recently re-affirmed fundamental analysis by Seafarer:

http://www.seafarerfunds.com/documents/conference-call-presentation.pdf

Lots of industrial materials down...X down 6.5 this morning...CLF down 2.5...VALE down another 1.5 (latter also another Seafarer holding).

Condolences all around.

Comments

  • scott
    edited July 2013
    I don't think anyone could have seen what happened today regarding Potash coming. SQM is somewhat interesting from the idea that they're not purely Potash (I believe they're the largest lithium producer), but this sector is either a:) going to be lousy for a long time to come or b:) will enter a period of consolidation as a result of this situation. Either way, I'd say no to these stocks - although with the RSI for SQM at something like 8 (I mean, that's just a nutty level) on both the daily and weekly, I would think there's a bounce somewhere here. Not something I want to try to play, but just sayin'.

    Potash (POT) owns something like 32% of SQM.
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