Would you guys be buying SOL on a 1 year outlook?? I am mainly in for capital appreciation,Do you guys see SOL at 20-30% Higher in a 1 Years time?? that would = SOL - 400?? Comments will be much appreciated,thanx
Based on my experience I think its best to trade in the direction of the market. When the market is rallying, like right now, and you think a particular stock is going to correct it's best to just leave it alone and buy stocks that are rising. To try and swim against the R12 billion/day tide is simply suidical, ask me I have made tons of losses doing just that.
My only fear is the strong rand/weaker dollar,If the dollar can strenghten to around the 8.50 - 9.00 and the Oil price stays around the 70 - 85 dollar range, it will be v.good for SOL.And who knows we myt see 400 on SOL in the 2009-2010 year..
Well based on the discussion SOL under 310 so we should look at a short and TA says GOOD for it but its Friday and I dont like opening positions without really good cause on a friday. Silly things like wars, banks filing for chapter 11 protection (hey it happened last year without warning) and other events happen over week-ends. I am gonna be a bear and snooze this one out till monday thanks. I will keep my already open positions but opening new ones....not for me today thanks.
I would be careful shorting this one and if you do keep your stops very tight, rand is weakening with strong oil price. Perhaps we can expect some short term weakness but will have strong support at 300 rand level. Excellent share to buy for the long haul.