Why would anybody buy Sappi at the moment?

[SimonPB]

there has to be a correction somewhere .. says who, I never seen ths rule book .. an anyways, where is somewhere ?? rather wait for confirmation, otherwise you stabbing n the dark ..

[#2]

Seems like a massive support at 26 today, SPP (Sappi on NYSE) fell 2,5% yesterday and in afterhours trade fell another 4.7% last night and they looking to open weaker again today.... But this share is the bug of many investors I guess. It always seems to do exactly opposite to what you expect!

[#3]

The rand / dollar exchange has an impact on this as well as yesterday we went down 6%. Good support at 26 - yes, but we need to make new highs....

[eddy66]

What a crises!! Someone just hit me with a wet fish!! Would have been even stevens by now,almost a profit.Nothing like the present.Lets look on the bright side,I went short on AGL yesterday at 203 and we all know where it's trading.(Little tap on the shoulder).I didn't have the guts to go as big as last time,but still went big for me.I'm up 4.5% = 45k.Still a 100 to go to get to square.I'm just glad I'm away from sappi,it's the demon share ;)

[Russ]

Ja,that proved to be a false breakout above 26.50 two days ago.Impossible to know at the time.

[#6]

Eddie, looks like you are right should have held but ahhh wellllll, massive support at 25 now so you might have just broken even and then a few rands if you were lucky, but glad to see you making it up elsewhere.

[#7]

Jack, looks like you might make more than your school fees back here... Still some sticky support at 25 but next level you say will be 24? I am loving this learning curve, man what a rush. Paper trades are up quite nicely on this one.

[eddy66]

CPS,that's the beauty of hindsight :) At least I'm getting something back for my schoolfees payd.

[#9]

Lets see if it bounces off support..

[jack12]

Your existence is a "work in process" and will always reflect your minute-by-minute ACTIONS!

[#11]

Back on the old boring topic I guess, It bounced with little conviction, then swan dived and settled back into supprt levels. I guess we will only really see what to do next week. I really expected it to dive with a big drop on NYSE last night, but alas the JSE dipped and bounced again....