August 17, 2010

SHORT ON TREASURY BONDS FOR A SHORT TERM TRADE

Yesterday’s climatic volume in TBT and today’s scheduled purchase of $2.55 billions of Treasury bonds by the Federal Reserve were the trigger events for our call last night on Twitter to go short on UltraShort 20+ Year Treasury ProShares (TBT) . We are short on TBT from $32.50 for a short term trade.

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August 17, 2010

EXITED LONG AGRICULTURAL STOCK POSITIONS WITH PROFIT

As per the prior post, exited all long agricultural stock positions as follows:

POT $145.61
ADM $30.62
BG $55.50
MON $59.90
SYT $48.40
CF $92.20
AGU $70.20

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August 17, 2010

DO NOT LOOK A GIFT HORSE IN THE MOUTH

We got a gift this morning when BHP Billiton, Ltd., (BHP) made a buy out offer for Potash Corp. of Saskatchewan, Inc. (POT). We are long on Archer Daniels Midland Company (ADM) and Bunge Ltd. (BG), seed companies such as Monsanto Co. (MON) and Syngenta AG (SYT), and fertilizer companies such as CF Industries Holdings, Inc. (CF) and Agrium Inc. (AGU). We specifically highlighted POT to buy.

Our thesis was certainly not based on POT getting a buy out bid at this time. The ZYX Change Method Trading Rules dictate that we do not look this gift horse in the mouth and take profits.

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August 17, 2010