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Sasol passes the test

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john_1
Super Contributor
I think we have seen a very interesting morning where sellers trying to drive the market down met with swift and aggresive resistance. I may be wrong but I think sasol just passes the test. Any comments.
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15 REPLIES 15
Not applicable
Yes. I hope you is wrong. Went short Friday..;-)
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john_1
Super Contributor
Work with me here baby G.
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DST
Super Contributor
Sasol spent R8.1bn buying Condea, then wrote off R2.8bn a while back. Now they cannot sell. Surely, while the traders jam at the surface, bigger funds are going to formalise a dim view of a company which squanders that sort of ammo?
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CE
Super Contributor
Johny boy - I'm in long, lots of steam left IMO. There was a lot of critics against ol Chartist, but he was spot on with SOL and SAP !!
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john_1
Super Contributor
Hi there CE! have a good week end? looks like Sasol has fought back and is gaining ground, What a diffrent picture from a couple of weeks ago when nothing could raise this from the dead.
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asylum
Super Contributor
Hi John the only thing that worries me is that the only thing holding Sol up at the moment is the oil price if the tention in iran is defused we could see the oil price on a downward trend with Sol following but thats just my guess. I'm still holding and hope that i,m wrong
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CE
Super Contributor
Did not play golf like some Y-people but worked the whole weekend, Saturday and Sunday !!! SOL is gonne make us proud.
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Not applicable
The only thing keeping me out of this trade is that the friggin STO is above 90 - and it looks like it might stay there for a while.
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cfm
Super Contributor
STO = stochastic oscillator ???
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Not applicable
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john_1
Super Contributor
SASOL in US is trading at 244 is there anyway of profiting from this diffrence.
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CE
Super Contributor
As you say, it can stay there for a LONG time - nothing wrong with that...why worry then.
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Not applicable
Ja, good point. But for me, anything at that level is high risk. I'd rather wait for a "safer" entry point than where it is right now. The tell all will be the R251 mark. A break-and-bounce at that level will be a buy signal for me, and will trump the STO>90.
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CE
Super Contributor
Ok, you snooooooze, you loooooose....
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SimonPB
Valued Contributor
john, simple buy here and instantly sell on nyse. Of course you will have noticed - somewhat less then simple for more reasons then I need to type right now?
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