10/30/2009

Monsanto update

I last posted about Monsanto here. I was calling for declines based on a severely underperforming stock price. Currently, it looks like things are unfolding according to plan. If we rally to $75 or so, I may add more to my short position.

You can see in the weekly chart above that MON has broken it's bear flag pattern to the downside, and looks like it will easily close the week below. I would like to see a rally to $75, a retest of the breakout line, to add more shorts.