I think we are taking after the markets in Europe, most of them are down today. I think the guys are just taking profits on banks because there's still good news especially with credit demand figures this morning.
More Quotes from Ferdi Heyneke:
A lot of factors are positive for the sector, there's Christmas turnover, a stronger rand which means interest rates will remain as they are or even another cut as some people are suggesting.Ferdi Heyneke
Gold has pulled back from its recent spike to around 505 an ounce while the rand has strengthened to 6.34 against the US dollar.
Ferdi Heyneke
The market's volatility has been huge and we've become oversold so the market was poised for a rally and needed some news and some trigger.
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
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 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
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