Long term short. The idea is not only selling from the top, but rather getting a positive swap. South Africa is due to have a big fundamental event that will most likely strengthen their currency a bit (of maybe Trump will do the work for us^_^)
A key point will be the Nov 24 ratings agencies review. The agencies are either going to downgrade, of which the rand will go long.....however, if the agencies hold until the ruling party elective conference in Dec then a short would be advisable.
At the conference this can go three ways: 1. the ruling party ousts no.1, 1.1 elects current deputy - rand strengthens, 1.2 should his ex-wife be elected then the rand will fall. 1.3 ruling party retains No.1, in which case the rand fall will be extreme
tom.baor
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@Ltd, Thanks for the Info.
Could you post a link to the source, so other Traders (such as myself) may see the data and share it.
josedaniel18
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Tom, can you share your update view of this chart! I know you are interest on selling this one Big time, right?
tom.baor
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We are almost at our target, A buy will come soon, but not just yet.
At the conference this can go three ways: 1. the ruling party ousts no.1, 1.1 elects current deputy - rand strengthens, 1.2 should his ex-wife be elected then the rand will fall. 1.3 ruling party retains No.1, in which case the rand fall will be extreme