Market Wrap - Stock Pick - cash
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Viv Govender from Rand Swiss Offshore chose cash as his stock pick of the day.
"I'm going to be a coward this week and I'm going for cash. The reason being is the election next week, trading volumes are very low at the moment and I don't see opportunity, and going offshore at around R14,56 at the moment doesn't really make sense, so to me I would say rather hold onto your cash, if we do see the currency strengthens to below or better than 14, maybe then look at going offshore."
"I'm going to be a coward this week and I'm going for cash. The reason being is the election next week, trading volumes are very low at the moment and I don't see opportunity, and going offshore at around R14,56 at the moment doesn't really make sense, so to me I would say rather hold onto your cash, if we do see the currency strengthens to below or better than 14, maybe then look at going offshore."
