I think it got ahead of itself especially gold and platinum stocks and profit taking was not unexpected.
More Quotes from Ferdi Heyneke:
With this gold price heading towards 600, positive sentiment is driving the sector.Ferdi Heyneke
We had a dip initially but those are not that much of a concern, we'll see some volatility and profit-taking but I think the trend is still rising.
Ferdi Heyneke
The JSE is strong again, but it will stay volatile for the foreseeable future. The Dow was steady overnight, while the gold price moved back to 530oz. The market should pick up from next week as more people are at their desks.
Ferdi Heyneke
Impala is higher ahead of expected good results due in February, gains in other platinum stocks and the higher platinum price, coupled with the weaker rand.
Ferdi Heyneke
The JSE was lower today on profit taking and the pull back in markets overseas, especially the East. There is no change in the fundamentals.
Ferdi Heyneke
The fundamentals for these kind of stocks are very promising with the healthy economic growth prospects.
Ferdi Heyneke
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