Dow 10000 is here

Well the Dow Jones index has finally breached the 10000 point level once again and the psychological kicker that has come through is evident in Asian trading this morning. The Nikkei is up over 2% and people in general are feeling good about themselves.

Its just a damn pity that the US Dollar keeps seeing its ass and falling through the floor! It is acting as a serious handbrake to my long Sasol trade. Interestingly the SOLSBG warrant has continued to track up even if the Sasol share price has been moving sideways.

I had been gradually building up a long in platinum and have added to that position yesterday as the price has firmed above $1355. I suspect positive sentiment will be with the markets and industrial metals this week - trend is your friend and all of that.

On the small cap front
Did anybody see that new power board put in place at African Dawn?!

Christo Weise and Robert Emslie as non-execs. This surely has to be worth a punt if these guys are throwing their weight behind it.

Director dealings
It is interesting to see that directors are starting to sell into this market - is it the guys cashing for an early Christmas?!

Just yesterday:

• Topping over at Steinhoff sold R11m worth of shares
• Mokoena at Eqstra sold R240k
• Lazarus at Blue Label sold R309k
• Curle at Altech cashed in some of his options and sold R1.38m worth of shares
• Matlakala at Metropolitan sold out R2.5m
• Van Deventer at Shoprite settled options and cashed out R7.9m

I dunno - maybe if you start adding up the dealings in the last couple of weeks you will find a big number of people are cashing out. Wonder if it is just the Christmas / Festive Season phenomenon or whether they don't see value in their shares at these levels?