Interesting that banks continue to rally in spite of Gill Marcus' comments indicating that interest rates will be going up. S'pose the current rand strength helps, but if and when it weakens, they are likely to give some of this back. Same with Retailers. Time to exit the longs?
Had a fair amount of SBK cfds which I may have exited a little too early, but then again more than made that up by switching to CPI as I felt it was lagging the rest. I don't see much upside with the big boys at this stage. Even though at a slower pace than the past CPI still continues to produce the goods.
I liek banks right now (hold SBK and CPI as long term) .. they have massive cash balances, debt ratios looking fine for now and well positioned for expansion (BGA and SBK more than NED and FSR as the former has good African footprint)