The dollar oil price seems to have bottomed out at 49USD (15/1/07) and is clawing its way up to its current level today of 53USD. It is only a matterof time before some event in the middle east pushes the price back-up towards the 60USD level again. As Sasol's sales are USD based they score. Thus a recon it is a buy at anything below 23500c. Then wait for the bounce back towards 26000c (where it was on 2/1/07)
As an SOL share price is now very low compared to the last 11 or 12 months ago..... Considering some investors' buying behaviour, I can smell more buyers than sellers this time. Of course this will lift the share price up (and sideways considering oil price). I mean that the share price may go up but slowly.
'Low' or 'High' is irrelevant. Compared to what? Is the price supported by earning? Even if it's not, the market can remain irrational for a long time. I'm sorry to be blunt, but in spite of your assurance that you can smell buyers, it's pretty clear that the sellers are in charge of SOL right now
Ek dink nog steeds die uitverkoping op olie, a.g.v. die warm winter in die Noorde is een van die grootste probleme. Kyk maar terug op die grafieke verlede jaar, nie so groot nie, maar ook dip vroeg in Januarie. Die wisselkoers is die een wat my bekommer. Kyk nuwe Finweek. As die rand verstewig teen dollar - SOL probleme. Ek sit op SOLSBG - nog nooit voorheen gehoop die olie prys gaan op nie. SOL het my gevang, ek het gedink hy gaan al op die vorige weerstand omdraai. My opinie, KOOP, Sol is totaal oor verkoop kyk maar na MACD en Stochastic!!!
If oil breaks $50 it's next stop is $47,and quickly.As I write the gold price is up $8(on US inflation data),but the gold shares in the US are not doing much.All hinging on the oil price,which is on a real knifes edge
America claims the bad weather came too late to have any effect on prices.Venezuela socialist move seems to drag on for a while.My stop losses happened when i could not go on-line.Decided to stay out for the time being,till events start to move the market again.