Potash ( POT ) Technical Analysis Stock Chart 8-06-08

Tonight I annotated a new technical analysis stock chart of Potash ( POT ).

Since I last wrote....POT did indeed break its $190 support level and then went on to break its next support level at $175.....this was a vicious down move! POT hasn't seen this bad of breakdown since it first started breaking out years ago.

All commodity related stocks are down huge over the past several weeks! The uptrend in these AG stocks couldn't last forever. Despite these agriculture stocks being cheap on a 2009 basis, the big money seems to be rotating out of commodities and into financials. But how long will this last? Probably not long. Global growth is still strong....

Some great stocks to buy on this huge pullback are:

Freeport McMoran ( FCX )
US Steel (X )
Potash ( POT )
Mosaic ( MOS )
United States Oil Fund (USO )