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OML

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Super Contributor
Must confess I exited my long this morning at a small loss as oml has broken support.Rule no 1:have an exit strategy and don't take a big loss.Roniqua,I have my hat ready!
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Not applicable
Well done RUSS, stick to the strategy.
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Russ, I got some mustard to go with the hat if you want it to taste better..... But yes exit at defined stratergy. looking at the chart cannot see why you went long recently though.
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Roniqua
Contributor
thanks very much. Glad you stuck to your guns. On the cent. wow. Wonder if its gonna hold this one. Enjoy.
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RUSS, next support at 1324, you game, or you gonna wait for the short term trend to turn. !
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Super Contributor
If it gets to 1324 I will go long again.Not putting any hats on it this time.
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Not applicable
Time to go long then...
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jannie2
Contributor
I heard that Old Mutual has $ 85 million (I think) as an insurer in Dubai - and that when asked for comment - Old Mutual was not available for comment - the question is - this amount - percentage wise - how big is it?
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Super Contributor
Well that explains why i got stopped out this morn
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jannie2
Contributor
thanks, for the link but I am still uncrear on - how big is the exposure percentage wise is it a big exposure for them ?? do you guys think that it has been priced into these levels ?
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Super Contributor
I might be wrong ,but am still holding the installment,showing a small profit at the moment,i see that they have hit new york with a new product,seem as if they have done their home work....see article moneyweb today.
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Super Contributor
I see OML is now making another offer to buy out the short term insurer.It might be more successful this time.Really a knee jerk reaction i think,but if u don't like volatility perhaps time to leave till things settle down.
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Not applicable
I am also holding out long but took quite a nock today, don't know whether to walk away and wait until things settle. Can anyone give some traders insight..? I think the Dubai news just hit people hard but now with the low price maybe it is a good buying time which should push price up, along with positive NY ground coming up?
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Super Contributor
Down 7% in the US.Haaaaaaaaaaaaaaaaaaaaa.
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Not applicable
Some advise, I tracked US and JSE for about a 8 months then realised to much noise and they never seemed to influence each other to much. US ops are almost self funding if the new product/model is right and break even in about 3-5 years. SA/UK still main revenue stream for OML so unless US needs emergency funds it does not affect SA pricing much. Look at SA market and what fundamentals are weighing down if any. This overall correction is people squaring away profit before end of the week. Holiday season kicks into high gear next week so fewer people wanting money in the market if they dont have to......OMO
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