Monday, February 9, 2009

Sigh....

Two losing trades in a row now on Sasol, one long and one short and we're back to the point where I initially entered my original long position.

After breaking R285 in early trade on Monday, I was stopped out of my position and followed Sasol up in a new long position. The share closed R297 which is pretty healthy spike on the day.

Big upward price movements on Friday and Monday would seem to indicate something is potting at Sasol. Doesn't agree with my shorter term view that there is more downside risk but that's the way the market is going at the moment.

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