Summit TV

Transcript:

I don’t have a specific stock that I’m looking at. If you take a look at the JSE top 40 over the last few weeks we’ve started reaching very critical support levels - that support level held over the weekend. Friday was very close - we saw the market collapsing on bad economic data - and we’ve seen support levels not just on the top 40 but across the board. On the Brazilian market, the emerging markets, some of the numbers on the Dow Jones and S&P and all of these support numbers have held so a very positive sign in the markets. We are going to have to give it a week or two to see if these levels can sustain - I think if they can sustain we probably can go up on the top 40 to about 25,000. I think we finished off at about 24,200 to 24,300 on Thursday and we’ve still got about 500 to 600 points to go. I think you can take a look at a broad Satrix maybe for the short term until we see if this growth story coming out from the US and the earnings that are coming out of the US in the next two weeks are going to be good…

Broker:
Rob Towell, Nedbank Capital

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