TON
JSE:TON Tongaat Hulette Buying below R5Tongaat has been having their troubles but someone is buying aggressively below R5. We have seen a volume spike on the selling climax and now again on a spring from the lows. After a very week backup attempt to the downward sloping trading range, we could see some rally back to the upper boundary of the downward sloping stride. Buying weak stocks in a weak market is high risk but it seems someone is interested in Tongaat.
FRED Trucking Tonnage Index (QUANDL:FRED/TRUCKD11)Notice the long periods of high correlation between tonnage trucked and the major indexes (spx500 shown here)
Another set of FRED data that I think many are unaware of, so I thought I would bring it to their attention.
Enjoy and share your thoughts.
Much love and manage your own risk
GL HF
xoxo
snoop