The markets are a bloody mess. Cosatu not much help with talks of nationalisation of mines. Looking forward to get my hands on beautiful blue chips, excluding mining shares (short) once the market settles.
Worse thing i hate is the panic selling. Bought silver ETNs a few weeks back. Yesterday it closed around R218 and now you just get people selling @ R204 while the are no offers to buy..... At times like these it's a good thing they keep buyer/seller anonymous LOL, kidding
Found it very difficult not to do a bit of shopping with a basket this morning so bought CLS,ABL and SBK, just waiting for the "on special" sign to go up on SOL,SAB and KIO then I will use the trolley.
Trying to catch a falling knife hey? Ok all the best with that. Currently it's obviously not just our market tumbling, its most markets round the world. The reason is various negative economic items (take your pick). So in my view some significantly positive economic news needs to come out to lift the market. Without that then the only thing the markets have is months worth of bad news,...so there's no reason to turn up. I repeat, falling knife!
My reasoning for these purchases was pretty simple, under the present conditions there should be no drastic increase in the prime rate,therefore the interest that these purchases on CFD attract will be just about met by the dividend payments.All I'm looking for is ABL to go to 3500 anytime fom now to this time next year for a 66% return on my investment.There is risk in any investment, agreed, however it's a calculated one.Just look at their div record and I think you will find difficult to disagree.IMO those 3 shares are falling knives.