Taken from FOS newsThe Globe and Mail reports in its Tuesday edition that hedge fund manager Tony Warzel is long PhosCan Chemical, which closed Monday at $1.45, up four cents on the TSX Venture Exchange. The Globe's Shirley Won, writing in Best Bets, says the Toronto-based company is working to bring a Hearst, Ont., phosphate mine into production. Mr. Warzel, chief investment officer at Rival Capital Management, says PhosCan is doing a prefeasibility study on the project, which is set to produce phosphoric acid -- feedstock for solid fertilizer -- within a few years. The outlook for fertilizer is "very positive" with the rising worldwide food demand. Also, Phoscan is a potential takeover target as the production draws closer. Over all, Mr. Warzel expects North American markets to surge over the next three to six months, led by laggard sectors like technology and industrials. "I don't think it is possible yet to say that we've seen an ultimate bottom here, but I do think we've see an intermediate or tradable bottom." Mr. Warzel, however, also says, "Longer term -- one to two-years out -- we still think there are some potential risks of the market going down." He favours commodities, especially gold, longer term.