Have everything line up for a perfect trade, nice weakness in the share price (if he's short) and then suddenly things change direction almost inexplicably the share reverses direction...
That would be the story of my life on Friday and sometimes I wonder whether I should just exit the trade.
Sasol fell sharply to R261 and then suddenly rebounded to R276. My guess is the weaker rand and a little bit of strength in Texas Tea on Friday got traders in late in the day...
Fortunately the Dow didn't play the game for the bulls and I wouldn't be surprised with downside on Monday. So yip I'm staying short for a while.
I'm still in the equity market and here's what I'm buying at current levels:
Reinet (REI) - Story remains convincing
Foord Compass (FCPD) - These have been a good investment and the yield remains healthy
Shoprite - Top retailing entry
Beige (BEG) - Been buying this small-cap for a while
Bioscience Brands (BIO) - Ditto
Milkworx (MKX) - Heard some chatter about this company and going to take a punt on it
For the rest I remain relatively negative on the market at the moment and still believe we could see the Dow as low as 6800...
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