mak is hotting up

from: http://asxguru.com.au/2011/02/minemakers-mak-hotting-up/

FEB 02, 2011 0
Minemakers (MAK) Hotting Up!
Categories: ASX Investment Stocks, ASX Trading Opportunities

Minemakers (MAK) is a stock I posted about not long ago and just out of interest, you can click back to see the chart when I made that post, and compare the updated chart I have above. Back then the stock rallied strongly to new 12 month highs of 51.5c. The very next day a new high of 53.5c was made, but typically we saw a sell off and the stock price fell back to a low of 45.5c just over a week later.
Interestingly the trading volume has continued to remain strong however, and over the past week or so the stock price has begun to rally again. With the previous high of 53.5c being tested yesterday and again today there is bound to be break higher some time soon!
Selling pressure still seems to be strong, but that will give out soon as the fundamentals of global food shortages, and rising demand for fertiliser products takes over. On the forum, I have been sharing details of a few global events and one particular recent event that is making people pay attention to fertiliser plays like Minamakers once again, has been Potash Corps full year results.
This is a bellwether stock that gives a good indication of what the current outlook is for the entire agricultural sector. Commentary from the CEO was something to pay close attention to and this WSJ article that reported on their result is worth reading in full.
Below I have a short snippet of the article that cuts to the chase:
Potash has said under-fertilization contributed to disappointing crop yields last year in some areas of the world. Company executives dont expect a repeat this year as farmers look to take advantage of grain prices that are at their highest levels since 2008. The company reported strong sales during the North America fall application season, which was longer than usual due to an early harvest and dry weather.