A whole lot of nothing

A week which opened up a little nervous but ultimately ended green.

The JSE Top40 (J200) opened at 23730 and finished at 24075 helped by a bit of a bounce in banks and industrials (SAB and RCH). For the rest it was a case of going nowhere fast.

Portfolio changes:

• Sold out of my long IMP call on Wednesday (IMPSBC) for a marginal profit - time decay was starting to bite into the warrant despite being in the money
• Switched into a long on SOL (again SOLSBG)
  

While I still maintain that IMP in the long run is a good call (especially with platinum gaining traction at the top end of the the $1300 range), the time decay on the asset is hurting.

Sasol seems to have built a nice base around the R290 mark (Friday close as well as warrant strike). IMP on the other hand has broken below R170 (the warrant strike) and coupled with the safety issues and the drop off in production - it maybe needs to do a few things right to tempt me back.

Having said that trade in both warrants was brisk over the week and for investors with a bit of risk appetite, they both seem to be an option.