Shorting Sasol

Well I got stopped out of my Sasol long and promptly reversed my position by going short... The Sasol share price dropped nicely and SSL is down a whopping 12.35% in the US.

(Obviously this is a bit of a function of the catch-up from Monday) but that puts Sasol at around R259 in Rand terms. Well below where we are at at the moment.

With Asia down again (particularly BHP) we should have some more pressure on our resources again today.

A little frustrated with myself as I converted some of my dividend earning shares into trading positions - which went against my "bigger picture" strategy but hopefully it will pay off.

My thinking is to convert some of the profits from the trades back into blue chip just to build the dividend stream as I go along.

Investec
I see InvestVrek (previously known as Investec) also took a whack yesterday.... UK banking operations have been on the receiving end of a hiding since the RBS announcement and with the Pound being flushed down the toilet it hasn't helped the share price here...

Might prove to be an interesting one from a dividend yield perspective in the next few months if it keeps tracking down like this - but that depends on what form Investec will take by the end of the year...