Bloody Sasol!

I've been out of trading mode for a while as December wound down and we drifted into January...

Anyway decided to get back on the trading horse today and got a nasty start.

Spent a lot of time yesterday scanning through the big caps and isolated the trading options down to Gold Fields, Sasol, Sappi and Anglo American based on their volatility in the last few weeks.

Saw the Rand weakening a bit, thought Sasol had established a base around R290 and seemed to have confirmed something of a short term up-tick. With the ObamaMania swamping the US, I expected some opportunities

Went long Sasol using Sasol warrant SOLSBD. About 10 minutes after I entered the trade, Sasol came out with their Competition Commission disclosures and we "enjoyed" a bitch slap all the way down to R274.

Rough day on the market in general and I'm still anticipating a US "Patriot" rally as Obama sweeps into office. We're seeing the Rand slightly weaker vs. the US dollar but the oil price isn't coming to the party just yet...

Will see what tomorrow brings and then decide what I'm going to do with the position....