Investors back Barloworld buy-back

Diversified industrial conglomerate Barloworld has won backing to buy back as much as a fifth of its shares from investors.

Read Full Article at Business Report

Dead cat bounce?

The JSE ended up 0.8% on the back of better commodity prices. Platinum lead the way up 2.59% while gold was basically unchanged at 0.01%. Banks where up 2.2%, financials 1.07% and industials 0.77%. Gold was trading at US$634.50/oz while the rand remained strong at 7.12 to the greenback.

Other Stats

Rand-Sterling 14.0088 -0.59%
Rand-Dollar 7.0963 -0.61%
Rand-Euro 9.1666 -1.05%

Gold 638.70 0.54%
Platinum 1166.00 0.65%
Brent Oil 54.09 1.22%

Current Trades

Sold my BAW instalment making 14.8% including the dividend. The market opened yesterday way below my stop loss which was subsequently not triggered. This was not totally unexpected.

Watch List
1)JSE CODE:NHM 5000 -0.6%
SECTOR: Platinum & Precious Metals
Comment: Has came down about 3% in the past 2 trading sessions. Would prefer to get in at well under 5000.
2)JSE CODE:HVL 7385 1.16%
SECTOR: Steel
Comment: No instalment available that would fit into my strategy. The one with the longest expiry date is in May which is way to risky especially with the share being so thinly traded.

3)JSE CODE:SOL 23080 1.67%
SECTOR: Integrated Oil & Gas
Comment: Was up today at 2% plus but ended down. Depending on what happens tomorrow I might be in with an instalment. Oil also firm over the weekend on cold weather fears.

Tomorrow

I would still be short of the market as Friday proofed me right. Essentially gold since even after a rally on Friday in New York it basically did not move.

JSE All Share end up 1% on commodity bounce

But it was held back by the firm rand. The Alsi ended at 25231.500 with the gold mining index the star performer 1.68%.The platinum mining index picked up 0.98% to help resources rally 1.45%.Industrials and financials firmed 0.54% and 0.44% respectively, while the banks index was 0.62% better. Industrials and financials firmed 0.54% and 0.44% respectively, while the banks index was 0.62% better.
The Rand firmed against the greenback to 7.16 while ended up to $626.90/oz. The market was watching out for the US CPI data.

Other Stats

Rand-Sterling 14.1337 0.34%
Rand-Dollar 7.1638 0.10%
Rand-Euro 9.2836 0.24%

Gold 632.45 0.02%
Platinum 1165.00 2.01%
Brent Oil 51.51 2.41%

Current Trades

Quite an boring day with BAW which ended basically flat. Well after its past run a small pause would be a good thing. My stop loss was not reached as I though it would do in the morning volatility, so I moved it up again.

JSE CODE:BAW 17770 -0.17%

SECTOR:Diversified Industrials

Watch List

1)JSE CODE:NHM 5170 0.0%

SECTOR: Platinum & Precious Metals

Comment: May be to late but will keep an eye out for dividend

2)JSE CODE:HVL 7300 0.65%

SECTOR: Steel

Comment: If I can find a share instalment with a later expiry date I am in under 7250

3)JSE CODE:SOL 23185 3.55%

SECTOR: Integrated Oil & Gas

Comment: I am in under 23000

Tomorrow

If one looks at what I said yesterday don't listen to me. However for those that just don't listen I still feel bearish.

JSE Alsi ends down the second day in a row

The JSE All Share ended today down 0.70% to 24980.440. Resources moved down 2.22%, the platinum mining index fell 1.01% and the gold mining index lowered by 0.24%.
Financials lost 0.27%, with the banks index fell only 0.05%. Industrials ended up 0.57% . The dollar was trading at R7.21 per dollar and Gold improved slightly from $626.60/oz to $626.90/oz.

Other Stats

Rand-Sterling 14.1445 +0.07%
Rand-Dollar 7.1712 -0.40%
Rand-Euro 9.2857 -0.52%
Gold $629.10 +0.67%
Platinum $1139.50 +0.35%
Brent Oil $51.28 -0.66%

Current Trades

Sold PPC today and made 12%. BAW is still in a strong upward trend and I am currently up 20%. I have moved my stop loss higher as to preserve more profits but I expect it to be hit tomorrow with it only being 3.9% away from being hit.

JSE CODE:BAW 17932 +3.02%
SECTOR:Diversified Industrials









Watch List

1)JSE CODE:NHM 5190 0.58%
SECTOR: Platinum & Precious Metals
Comment: May be to late but will keep an eye out for dividend

2)JSE CODE:HVL 6977 -3.1%
SECTOR: Steel
Comment: Still feeling good about it waiting for upturn.

3)JSE CODE:SOL 22750 -0.46%
SECTOR: Integrated Oil & Gas
Comment: Earning are hedge so falling oil price not a factor but the market is pricing it in.

Tomorrow

I expect the downward trend to continue in resources while local shares could offer buying opportunities. A warrant trade that is short of resources looking better while oil is falling.

JSE ends down 0.16% due to Resource Heavyweights

The all share indeed ended 0.16% weaker at 25,155.450. Resources retreated 1.21% but the platinum mining index perked up 1.18%. Industrials and financials firmed 0.43% and 0.69% respectively.




Other Stats
Rand-Sterling 14.1810 +0.33%
Rand-Dollar 7.2108 +0.17%
Rand-Euro 9.3500 +0.39%
Gold 624.12 -0.38%
Platinum 1143.00 -0.09%
Brent Oil 52.18 -2.38%

Current Trades
I am still busy with both the PPC and BAW trades. Things are going well with only 2% to go for PPC before I reach my target while BAW exceeded my target already and is about 15% up. I placed a stop loss on the BAW of around 7% so a nice profit is in the bag.

JSE CODE:PPC 39065 +0.22%
SECTOR:Building Materials & Fixtures

JSE CODE:BAW 17300 +1.17%
SECTOR:Diversified Industrials

Watch List
I have 3 shares on my watch list at the moment and depending on PPC and on how they are doing we might just buy.
1) JSE CODE:NHM SECTOR:Platinum & Precious Metals
Pros
Platinum's average price for 2006 was $1142/oz
Earning up around 100%

Cons
A high PE of 17 may mean the good news is priced in
Price has moved 5% already this week

2) JSE CODE:HVL SECTOR:Steel
Pros
Steel price has moved up the past month
Local demand still high
Chinese demand
Historic PE of 6.6

Cons
Price has moved down
thinly traded so big positions moves market

3) JSE CODE:SOL SECTOR:Integrated Oil & Gas
Pros
Has an hedge in place at $63 so with oil trading $52 well in the money
Technology
Big Dividends

Cons
Windfall tax issue
PE of 10 (so its fairly priced)

Well let see what happen tomorrow. I however expect the market to continue moving down on US news. Enjoy the trading :-)

JSE higher on resources

JSE higher on resources
The all share index closed 0.62% stronger. The all share industrial index inched 0.11% higher.

There are 2 trades I am busy with. PPC and BAW. Mostly because of the big dividends and support for BAW with the unbundled of PPC out of BAW. However I think a better strategy of shorting PPC while going long on BAW would have been better.

PPC ended the day up 0.01% while BAW ended down by 1.62% (going ex dividend)

PPC

BAW

Had some problems with the moving of my PPC and BAW share instalments from my normal trading portfolio to my Warrant portfolio. This is to reduce trading cost. I also need to make sure I get the full dividend as the only payed me the special of PPC and not the normal dividend as well.