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  • Lester Davids

Updates: Capitalizing On Active Trading Opportunities - Monday, 15 April 2024

Updated: Apr 14

  • My number 1 goal is to help clients make money.

  • This is done by providing high quality research insights.

  • Well done to all who have taken advantage of the opportunities to trade.

  • Clients have benefitted by having had access to the following views.

  • To be become a client of Unum Capital, contact the Trading Desk: E-mail: | Call: 011 384 2923

Note: All original (time-stamped) charts are shown.

SECTOR ROTATION: Resources In, Financials Out. The most important theme on the JSE has been the rotation out of financial shares, into resource shares. On 26 February, I published a note + chart highlighting the STXRES/STXFIN ratio trading at an important level on a multi-year basis. This was the bottom in the ratio and the lowest level since March 2020. In the 6 weeks since then, Resources (STXRES) has since outperformed Financials (STXFIN) by 42%. The original comment + time-stamped charts are shown below. 

On a absolute basis, clients were presented with the following view: STXRES Bullish Reversal. This was the bottom in the ETF, which, over the 8 weeks, is higher by 32% (ungeared).

Lester Davids

Analyst: Unum Capital

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