Agricultural firm Potash Corp. of Saskatchewan (POT: sentiment, chart, options) is slipping this afternoon, shedding nearly 3% after Canaccord Adams cut its price target to $130 from $150. This cut was accompanied by a similar move for sector peer Mosaic (MOS: sentiment, chart, options) , and comes on the heels of a price-target cut by BMO. Monday, POT saw BMO lower its price target to $145 from $155, a move that rolled right off the stock's back - as POT closed only mildly lower. The thing that bothers me about these price-target cuts is the fact that POT is trading near the 70 level -- not the 145 level, the 130 level, or even the 100 level!

Further contributing to my skeptical view is the fact that POT's 10-week moving average is descending through the 95 region. The last time POT finished a month atop this trendline was the middle of June. During the past 26 weeks, POT has slipped 66% - knowing that the year-to-date loss for POT is 51%, it doesn't take a math genius to see that the heaviest losses have taken place recently. Nevertheless, option players are bullishly aligned, as the firm's Schaeffer's put/call open interest ratio (SOIR) of 0.54 is lower than 97% of the past year's worth of readings ... if (and when) this optimism unwinds, the stock could face quite a bit of negative pressure.

To end this blog on a light note, check it out: the God of Thunder rang the opening bell on the NYSE today ... that is a sign that the Apocalypse is upon us; trust me, I have a theology degree.