Bizarre!

Last week was a bizarre trading week! I had taken quite a lot of short positions on local equities that just didn't pay-off.

The Rand didn't help - particularly with the crap from ICASA on the Vodacom deal - but still I'd have thought it was time to see a bit of profit-taking and a bit of a blow-off considering the economic data still doesn't look great.

The US job numbers look kak and are going to take a serious dent when the GM dealerships (1100 of them) start being closed down.

I see Gold has bounced above the 930 level which gives me the indication that we're about to start another down-leg for equities - something that gets me a little excited because I think many of the SA equities I've picked are trading on pretty undemanding values.

Bias has to be to the short-side methinks.