I’ll be perfectly honest here. It’s been difficult to find many (hell, even a few) things to be positive about on the Potash front. This past week, depending on how one looks at things, could be one of the few positive signs that we’ve seen over the past six months or so.

Sure, all of the big three Potash stocks were beaten down vs their share prices of two weeks prior. If a silver lining exists (maybe a cooper lining) it is that the shares didn’t drop below late 2008 price levels. None of the three reached their respective 52 week low price over the past week.

So yeah, if you are holding shares or leap options you’re probably not smiling right now. Probably not crying either. And in this market that’s about as good as we can do right now.

Current and future P/E’s are still ridiculously low. Of course they have been this way for a while. Potash is probably one of the safer buy and hold’s in this market.

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