BROKERS’ NOTES: Buy ProShares Short S&P 500 ETF, sell BAT

2022/04/28 22:25:00

Petri Redelinghuys, trader and founder of Herenya Capital Advisors, on what to buy and sell

Petri Redelinghuys, trader and founder of Herenya Capital Advisors, on what to buy and sell.

Petri Redelinghuys, trader and founder of Herenya Capital Advisors, on what to buy and sell

28 April 2022 - 05:00 The British American Tobacco offices in London, Britain.” ( Editor’s Note , April 21-27), about Oceana and the shenanigans going on at that company, would indicate that PwC should take a bow.published on April 28, 2022 With fewer than 500 days to go until the Springboks begin their World Cup title defence, take a look back at some of South Africa’s greatest moments at the global showpiece.Independent Analyst, Jimmy Moyaha talks markets after the breather the JSE was able to take yesterday.

Picture: REUTERS/STEFAN WERMUTH Petri Redelinghuys, trader and founder of Herenya Capital Advisors: BUY: ProShares Short S&P 500 ETF We’re shorting the US market.And we’re opting to use a leveraged instrument such as the Short S&P 500 ETF, listed on the New York Stock Exchange.Also interesting is that the company has a value of R7.The outlook for the US economy is bad.The interest rate hikes are likely going to be far bigger than the market expects as the US Federal Reserve tries to get a grip on inflation.Its main asset, arguably, is the Lucky Star brand, valued in the latest Brand Finance SA Top Brands survey at R1.The hikes are going to crush American consumers.

In addition, if the Russians are really going to start selling oil in roubles, other oil producers may just as well start to sell their products in their own currencies.That’s a chunky portion of the total value of the company — a reason the value of brands should be taken more seriously.That will mean the whole demand base for dollars is gone.I’m very bearish on the US economy.Jeremy Sampson The FM welcomes concise letters from readers.But just be careful when you buy these leveraged ETFs.The one proposed here seeks an inverse return of once the underlying benchmark (the S&P 500), whereas its sister ETFs seek twice or even three times the inverse return.

Keep a tight stop loss on these.SELL: British American Tobacco (BAT) BAT rose sharply over the past week as the rand tanked from about R14.65/$ to R15.56/$.BAT ran 5.

5% during the week to April 22.Selling BAT now is a short-term speculative trade, and investors who have been holding the stock for a while should keep it.Clearly the gain in BAT’s share price is due to its rand hedge characteristic.But its move upward was too far, and technical indicators show it is trading in overbought terrain.This may indicate that a correction is on the cards in the short term.

Specifically, the share looks to have formed a shooting star candlestick formation on the daily chart, and thus it presents a high-probability short trade with a decent risk-to-reward ratio.From a fundamental perspective, the financials look a little inconsistent.Even so, it has recently had its “overweight” recommendation reaffirmed by some analysts, which has likely added to the weakening rand tailwind that drove the stock higher over the past week.I think it’s overdone, and it’s time to give back the gains it made over the past week.read more:.

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