Two to Buy
Platinum – Oversold and trading at support…
US Dollar strength since early September has resulted in a pull-back in precious metal prices. Platinum pulled back to $910, or almost 10% and it should find support at these levels.
It has been trading in a range for 18 months and is now significantly oversold. There are questions about the sustainability of the US Dollar’s recent rally. Levels of $900 look attractive to start picking up exposure.
Prodigy Global Portfolio: Simple, Efficient and Effective.
The performance of our offshore investment portfolio for the year to date is pleasing with a return of 17,8% in USD (outperforming the MSCI world index by 6,4%).
Providing a simple solution with stable performance has been our goal and we are pleased it has delivered.
You can get direct exposure to Platinum on www.protrade.co.za
or through Commodity Futures on Safex.
Access to our Global Portfolio has required direct offshore investment. Contact Prodigy for assistance.
One to Sell
With the JSE hitting record highs and the Rand sliding daily, it is difficult to identify obvious sells.
Anglo’s has rallied 40% since our long-term buy call in March at R185 and although resources are still rallying strongly, at R260 it looks stretched.
Take some profit and consider Implats or Northam for more direct commodity exposure.
Shorter Term Ideas
PSG: In the money, Buy dips below R235.
Tigerbrands: Headed to our R400 target. Place stop loss at R375 (entry). Hold
Aspen: Price consolidating, maintain short, stop loss R315 and target R285.
Long Term Ideas
Merafe: Buy below R1.55
Steinhoff: Back at support. Buy.
Jubilee: Nicely in the money. Hold.
African Rainbow: Up over 12.5% after banking a R6.50 dividend. Hold.
AECI: Price consolidation at support. Buy below R105.00
MTN: Consolidating at support. Buy below R122.50.
Glencore: Building support for a move higher. Hold
Wescoal: Long term buy. Add below R2.15
Naspers: Boost through R3,000. Hold
Richemont: up almost 20%, maintain position. Move Stop loss up to R120. Hold
Protected Offshore Investments:
We have three attractive Structured Products closing this year. Typically, you get protection through a 100% capital guarantee and geared upside to developed markets over 3 to 5 years. Please contact my colleague Gavin McCarter without delay as deadlines are applied. firstname.lastname@example.org