09/03/2010 | Contact: Trading Desk Spread Trading: +27 11 214 8101 - CFD Trading: +27 11 214 8102 - Email: info@gt247.com

FTSE/JSE TOP40 future: limited upside.

Pivot: 24834

Our preference: Long @ 25110 with targets @ 25670 & 25875 in extension.

Alternative scenario: Below 24834 look for further downside with 24570 & 23810 as targets.

Comment: the RSI is well directed.
Trade Idea

We BUY Mondi Ltd.
Isin: ZAE000097051
Sector: Basic Resources

# TECHNICAL VIEW #
Global equity indices ended the week on a bullish note, benefiting from surge in risk appetite following better than expected US jobs report on Friday. In the US, the upside breakout of key resistance thresholds (1130 on S&P500 and 1860 on Nasdaq 100) advocates for further advance. Therefore, we prefer to continue to enter long a position on the SA stocks. As for Mondi, the stock hold well above the ascending 20D & 50D MAs. Last week, the price has been able to cross over its yearly high @ 4750. Furthermore, both the RSI and MACD are strongly on the upside without posting any bearsih divergence on daily baisis as well as on the weekly basis. Last but not least, the higher volume during the recent rallies confirmed the bullish sentiment and should eventually push the stock price up to 5325 and to 5620. We expect an up move with targets @ 5350 & 5620. A LONG position can be considered between 4969 & 4800.
Our stop loss is set @ 4750 (blue horizontal line).

# STRATEGY #
LAST: 4969.00
BEST ENTRY: 4800.00 (-3.4%)
STOP: 4750.00 (-2.75%)
TARGET 1: 5350.00 (9.53%)
TARGET 2: 5620.00 (15.06%)
Entry price used for calculation: (last+best entry)/2





The tablesheet displays the latest fourteen trade ideas
OPEN
DATE		 TICKER COMPANY TYPE ENTRY PRICE CLOSE PRICE TARGET PRICE RETURN
%		 CLOSED
DATE		 COMMENT
14/01/2010 ASA Absa Bank Ltd. L 13050   14250     On-going Trade
20/01/2010 NPN Naspers Ltd S 28680 26500 25000 7.60% 05/02/2010 Profit taking before Target 2
21/01/2010 SAB SABMiller Plc S 21300 20070 19250 5.77% 08/02/2010 Profit taking before Target 2
26/01/2010 AMS Anglo Platinum Ltd S 75300 70600 66500 6.24% 01/02/2010 Closing at Target 1
27/01/2010 OML Old Mutual Plc S 1275 1190 1115 6.67% 05/02/2010 Closing at Target 1
28/01/2010 KIO Kumba Iron Ore Ltd S 32565 30250 28000 7.11% 05/02/2010 Closing at Target 1
03/02/2010 ACL ArcelorMittal SA Ltd L 10950 10340 12500 -5.57% 10/02/2010 Stopped out
09/02/2010 SLM Sanlam Ltd S 2265 2344 12500 -3.49% 17/02/2010 Stopped out
11/02/2010 NTC Netcare Ltd S 1270 1311 1175 -3.23% 18/02/2010 Stopped out
16/02/2010 AGL Anglo American PLC L 29200 28060 31800 -3.90% 25/02/2010 Stopped out
22/02/2010 SLM Sanlam Ltd L 2409 2505 2511 3.99% 03/03/2010 Closing at Target 1
23/02/2010 CFR Compagnie Financiere Richemont L 2623   2830     On-going Trade
25/02/2010 MUR Murray & Roberts Holdings S 3775   3360     On-going Trade
05/03/2010 SHF Steinhoff International L 2035   2200     On-going Trade

Contact: Trading Desk Spread Trading: +27 11 214 8101 - CFD Trading: +27 11 214 8102 - Email: info@gt247.com

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