For many weeks I was doubting my thoughts on Sasol, but a little wile ago I actually bought some CFD's because I thought it was quite low and believe that oil will recover during the year... In the last 2 days it made me quite happy, lets see where it goes now. Who of you made money off this one?
SOL is my biggest holding in my long term portfolios, so if anything I should have gone short to hedge my investment, but you know what they they say about hind sight. Went long on BIL, KIO and NED, so far this year and are all presently dark green. Also long on PPC however one is pink and the other contract bright red. Overall very good start to the year.
Bought CFDs at R360, sold at just below R470 - Awesome! I believe the Oil price rise is an overreaction by a market that really wants to believe that the oil over production is going to reduce very soon... My guess, Oil will slowly go down again... I will be buying back into Sasol at that time - the market seems to value Sasol directly against the oil price which allows for a couple of seconds warning :-). I believe this valuation to be flawed, but we'll only know more about the real situation when they declare interim on March 9th. In the mean-time: Smile and Wave boys, Smile and Wave!