I have decided to take a R2 loss per share on two thirds of my holdings, selling at R63.30. This is contrary to my normal investment philosophy of being patient, especially with quality.
Reason 1 is I am worried about the apparel market, think it must be incredibly tough, and Woolworths still earns majority income from this, not food.
Reason 2, it is a small loss for me and there are some incredibly cheap small and mid cap shares I could allocate the capital to rather than leave it in Woolies which I feel may tread water for a long time.
Anyway, it is a gamble, Woolies will release update soon and if better than expected, share will likely rocket. So best look at your own portfolio before making decisions. Personally I am happy to have a bit of cash in the current market rather than Woolies.