35854 replies to this topic

[Shortboy]

Take NPN for example...was down 4 percent in SA today so I would expect US ADR to also be down 4 percent thereby tracking JSE move. JSE is where the liquidity is so the JSE is where the NPN is set even for NY ADR.

Great thanks. Makes sense and got it. 

[Zero Hedge]

Take NPN for example...was down 4 percent in SA today so I would expect US ADR to also be down 4 percent thereby tracking JSE move. JSE is where the liquidity is so the JSE is where the NPN is set even for NY ADR.

[Zero Hedge]

Can't speak for what BOE does but what you should do is to take the USD price convert to spot and then compare to JSE or FTSE closing prices.You should find that it will approximate the ZAR closing prices for NPN and SOL (as price made in SA) and GBP closes for AGL,SAB,BIL (prices made in London) unless there was a major market moving event after close of these markets. The only ADR prices that I pay attention to are the golds as those prices are made in US and because there are always events that can cause gold price to move materially after our close.

[Shortboy]

The ADRs in NY are just mirroring/playing catch up to the price action on JSE and FTSE earlier today adjusted for ccy moves.Prices for these stocks are not made in NY.

Thanks ZH. Always happy to learn. Why then does BoEStockbrokers make an issue out of the ADR overnight performance overnight in gauging how our new day in SA market will start off?

[Shortboy]

Only got Richemont now, which is up 0.1%

Waiting for an end of day "BOO"! to the short sellers, that will be at 23h00 our time....

[Zero Hedge]

The ADRs in NY are just mirroring/playing catch up to the price action on JSE and FTSE earlier today adjusted for ccy moves.Prices for these stocks are not made in NY.

[Shortboy]

Our ADR's not looking too good in NY tonight. NPN, Anglo, SAB, BHP and SOl down 4%, 2.5%, 2%. 0.9%, 0.64% respectively.

 

Rand at 10.13 / 1 USD (Bloomberg).

 

Still 45 min to the close....

Only got Richemont now, which is up 0.1%

[Shortboy]

Our ADR's not looking too good in NY tonight. NPN, Anglo, SAB, BHP and SOl down 4%, 2.5%, 2%. 0.9%, 0.64% respectively.

 

Rand at 10.13 / 1 USD (Bloomberg).

 

Still 45 min to the close....

[massimo]

End of day alsi long at 39300. Lets see what happens tommorow morning.

[Zero Hedge]

Must admit today was messy and closing auction even more so for example FSR got hit in auction and RMH was ramped...a 2 percent swing just in closing auction between the 2. Go and take a look at the price relative and you can see the hand of the large foreign seller in FSR who has been leaning on it from the beginning of the month. SHP, BVT and NPN also got hit in closing auction today whilst they ramped VOD and MPC. Some foreign investors taking advantage of the liquidity in Nov to rebalance their SA holdings before we enter the quiet month of Dec? Should be interesting to see if this carries on tomorrow or whether they finished today?

[bear catcher]

Thanx Chubby, Ok now i am contemplating a small long if US keeps up.Will keep a tight stop.I think we can go up a bit tomorrow through to thursday and then drop if US start to drop. IF US dont drop this could be the start of another long.QE ECB Draghi etc still in play so i dont believe this will go down much lower we need the US to drop and take us down with it.Well just my view.The first time in a while made something on a short did feel good.

[davidp13]

Dont let this fool you...we've been here before.

Dejava?

The feeling like you've had this cup of coffee before?

Yip and i burnt my mouth that time

[Sunesis]

Long @ 39210

 

The bull in me is still alive

[gringots]

Dont let this fool you...we've been here before.

Dejava?

The feeling like you've had this cup of coffee before?

Edited by gringots, 26 November 2013 - 09:19 PM.

[Shortboy]

Lol..Its just gonna take one green "boo" and we'll see them scatter ..I hope...alot

Today, the bears have just been downright gluttons after today's 600 pt win. They need to learn a financial lesson.....  

Somebody with deep pockets and a hunger for consuming short stop losses is lurking out there....

[davidp13]

Is this the best the bears can do???

Dont let this fool you...we've been here before.

[Shortboy]

Is this the best the bears can do???

There must be a mountain of short stop losses up there...where have all those greedy short stop loss eating traders gone to? Bit worrying.

[Magic_Matt]

Would I be correct in saying that we're not dealing with American Bears, just South African Bears. So wouldn't expect too much after hours selling while SA is closed and America is up?

 

 

Is this the best the bears can do???

[Shortboy]

If the FED keep rates low for sometime, our stocks are still best when it comes to African exposure.

At the moment they just have a high PE.

 

The US stock markets is stuck now.  Many ask will investors play it safe by selling in Dec. In order to lock in their YTD gains, or will they let their winners ride?

100% in agreement S. We have a lot of stuff to sort out down here....but compared to the rest..we are, by far, still the safest but maybe not the highest paying bet relatively speaking.

 

Hope that lonely long of yours gets some legs soon my man.

 

I bought your %*#? dip this afternoon at 39 261 - purely in expectation of scalping the short covering scenario that usually plays out so often lately.... lot tougher making a buck out of it the last few days...still holding.

[Sunesis]

Yip, Africa north of SA is where the world and SA wants to be....provided they can take risk, big risk. 

 

What companies first need to understand is whether they can do business in countries that have no or little room for western compliance or apply local regulations to the extreme.

 

Ask Tiger Brands how its going in Nigeria, or Altech who ventured into Kenya and got wiped out, even SAB couldn't make things happen in Nairobi when they first went in a few years back but they got it right in Eastern Europe and China. Then have a look at Shoprite's, FNB's and Konkola Mining's recent escapades with the Zambian government....

 

Huge risk, huge margin....if you can stomach it.

If the FED keep rates low for sometime, our stocks are still best when it comes to African exposure.

At the moment they just have a high PE.

 

The US stock markets is stuck now.  Many ask will investors play it safe by selling in Dec. In order to lock in their YTD gains, or will they let their winners ride?