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Sasol

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Contributor

That's a serious Monday morning kick in the ol SOL goolies...!!! 

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Regular Contributor

Well - its got worse - and this is what I love about markets - this is approaching oversold to the power of 10 - so even though you ar egoing to have to stump up for a rights issue - its looking cheap?  

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Contributor

Problem is do you buy as a contrarian investor with the "knowledge" that oil will recover above 50 and that Lake Charles will be ok.......or do you think its still going to halve.  SOL is much more attractive at 20 than 34.   Same thought processes when AGL hit 50 a year or two back.  I didnt buy AGL then....So yip, SOL is oversold, but it can stay oversold for a bit longer.   Just curious - when does the JSE suspend trading?  More than an 8% drop in a day it seems

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Super Contributor

Sasol has been in the Index since 2003 (i stand corrected). Downward pressure on share price is possibly exaggerated by EFT holders dumping this share on assumption that it might exist the Index.

Buought a smallish yet respectful number of shares @ R29.99.


@Blik2 wrote:

Problem is do you buy as a contrarian investor with the "knowledge" that oil will recover above 50 and that Lake Charles will be ok.......or do you think its still going to halve.  SOL is much more attractive at 20 than 34.   Same thought processes when AGL hit 50 a year or two back.  I didnt buy AGL then....So yip, SOL is oversold, but it can stay oversold for a bit longer.   Just curious - when does the JSE suspend trading?  More than an 8% drop in a day it seems


 

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Occasional Contributor

You are brave.  I could not buy a stock ttat has lost so much value and has stopped paying dividends.

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