Update

Well, the world's financial system survived the end of the quarter. There were no new announcements of major bankruptcies today.

There were a couple of interesting things in the news, though. Here is a story from Bloomberg about money sent back to Mexico. Remittances plunged year over year by 12.2% in August. This can't be good for the Peso.

Mosaic plunged 20% after hours after disappointing analysts. POT is down 10% along with it. The scary thing for bottom fishing is that MOS was down 59% from the high, and is now down 64%. Where is the floor under this company? The P/E is down to 11.9 times. The market seems to be pricing negative growth for the future despite earnings growth of 285%.

This may happen. The Baltic Dry Index is down to the lowest level in almost 3 years. I think that some of the drop is due to recent deliveries of large numbers of boats. Unfortunately, I don't know exactly how many boats have been delivered. However, I continue to think that short-term (next couple of months) that the sell-off in commodity stocks is overdone.