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Hi Guys, its been a long time since I chatted here, always been online though. Just was very busy in the past 2 years doing the MBA, now only thesis remaining which is based on investing which is great! How has everyone been? Hows trading and all?
So you got stuck in your hedges too - like the rest of us.
This pullback may just be a buying opportunity that leaves us kicking ourselves for being suckered into taking more South African shares.
So yeah - I agree - hanging onto my UK stuff and buying more - but it hurts so much!
I'll probably end up with egg on my face but I am calling a bottom on the gbp-zar. On 15 Feb it bottomed at 16.08098. Today it again touched 16.08098 (exactly) and is giving a little bounce.I have been eyeing a sell divergence on the RSI (weekly chart) for some time now. Hopefully now is the time!
I'll not all you a liar for a penny.
When you actualy drill down into it - the budget was horrendous.
All it really promised was more spending and more tax from the wealthy to buy drinks for the party.
NOTHING (in terms of a plan) about job creation, the long-promised "encouragement" for SME's etc. .
Just some garbage about how "we all" have to contribute to the "dream" in order to achieve growth - and then the usual singling out of private and corporate responsibility.
For a moment there I thought he was going to propose full income tax (including benefits) for ministers and parliamentarians (LoL.) Now THAT would be "ALL" of us contributing.
He promised a R150B hole in the budget. (139/149/159 it kept changing - he couldn't keep it straight. Not very impressive! Probably because these figures are largely a fabrication anyway.)
I love it when they talk about 1,3...% growth. They can't even balance the budget - but they can calculate that complicated figure to the nth decimal place.
As long as it isn't negative! .00001% growth for the ratings agencies. Please!