Re: When will the blood bath end?
in response to
by
posted on
Aug 13, 2008 06:11AM
I agree too.
What is hurting the share price is the sudden chill wind blowing against commodities. With oil going south, some traders seems to be taking profits with some possibly short selling. The same thing is reflected in the mosaic and potash share prices. Like most reactions it is a complete over-reaction. Oil is down 23% from its historic high while Legend's price is down 65%. This makes no sense.
Meanwhile the management are making the right moves to bolster their team to deliver a world class phosphate production company. The fundamentals haven't changed that much and world demand for fertiliser is not going away anytime soon. It is depressing at the moment but I firmly believe patience, foresight with a serving of courage will be handsomely rewarded.