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Online Share Trading

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SOL and MTN

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joani
Contributor
Good Morning Simon & Fellow Traders, I would like to know your thoughts on MTN & SASOL over the next 6 months. I bought MTN last week and its dropped 10% - shud I buy more to adjust my purchase price? I heard SOL is going to rocket over the next 12 months to nearly 1000c a share? Your thoughts please??
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8 REPLIES 8
CrownA
Super Contributor
Where is your stop loss of MTN - use it. SOL follows the oil price, so it can/will go up and down. if you think SOL is going to 10000c then the oil price will be over $200.If you believe that go long! Else use the charts, follow the trend...
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Wizard
Super Contributor
The day that u hear those predictions for SOL it's time to sell :)
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Not applicable
stop loss??? guess u gonna hav to buy some more unless u willing to wait it out if need be
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diaan
Occasional Contributor
Hi Kia I am a newbie but here is my two cents. You bought the MTN shares too late. At that stage the share had already gained on speculation and what you did was to allow peple who bought shares at a lower price to take their profit at your expense. The guys who know more than me may shoot me down but if you were to look at MTN's ROM you will see that the share is overvalued as it is and that you may obtain better value elsewhere in finding a share that is not in the middle of transactional speculation. I think, and i may be wrong, that for you to buy more shares at this stage is like catching falling knives. The market has laready priced in the news of alternative suitors and if you buy more shares you only increace the risk of a double loss if the share falls again.
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Preston
Super Contributor
Don't feel bad. As a newbie , i got burn't both way on the Telkom/MTN talk. RULE..NEVER BUY A STOCK BASED ON FACTS ie if a sens is released that MTN is in talk , that is the time you do not buy.
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Preston
Super Contributor
All is not lost.MTN is a good share for the longer term.
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Not applicable
agreed..mtn is a solid share
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joani
Contributor
Tx for your replies to my MTN dilemna appreciated. I think I will price ave by watching MTN carefully and buying in when I see the stk hit its lowest ebb. Its a strong share - just got in too high. 7 May BBC News: re: Mr SOL punt- I am looking for medium turn return : " The price of crude oil could soar to $200 a barrel in as little as six months, as supply continues to struggle to meet demand, a report has warned. Goldman Sachs energy strategist Argun Murti made the warning as benchmark US light crude passed the $123 mark for the first time. Surging demand was increasingly likely to create a "super-spike" past $200 in six months-to-two years' time, he said. Oil prices have now risen by 25% in the last four months and 400% since 2001. US sweet, light crude hit an all-time peak of $123.53 (£63.25) on Wednesday, while London Brent crude jumped to $122.32. Mr Murti correctly predicted three years ago - when oil was about $55 a barrel - that it would pass $100, which it reached for the first time in January of this year."
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