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When Zambia go into lockdown and unemployment rises and revenues decline do you think the ZG will raise taxes on the mining companies. As in the UK this Govt will raise taxes the ZG will penalise mining companies as that is there main income streams as we seen after 2008
Hi Kalan,
Thanks for your post and well done on the electrical work. I'm sure you saved your step daughter a fortune !
Good to get a second opinion on the indices - Appreciate it. Looking at Oil and gas & gold charts too in conjunction with various associated companies. As you say it looks like sitting on ones hands might be the best option for next week. The only share on my radar would be CEY as I want exposure to gold, but gold looks like it might be topping out and CEY would have to retrace to around 110-112 before I get interested anyway and that would be a tentative in and out trade. Have a good evening. A choppy week on the cards
Hi TC - excellent work and good to see some profits banked. Been too busy to do any trading myself. Looking after family and doing some electrical work for my step daughter. had a break from the news as well so a bit out of touch. I have had a brief look at the charts and the FTSE, JLP, etc etc are all almost identical in shape. The MacD stands out as you say as the one bullish looking signal and also a couple of weak days could destroy this as you also say. Unless we get some sort of breakthrough (e.g. the home testing kits reveal that 50% of us have already had the virus) then I still anticipate another big leg down or a long winding up and down fall to the bottom over many months. It would not surprise me to see markets lower by up to 30% from where we are now. Below 4,000 on FTSE and about 1600 on S and P 500. I know it looks a long shot but it is in line with historical falls. Didn't make any money out of the rally - just glad not to lose any. Trading looks tricky for the coming week IMO.
Yes Rosewall. Bit macabre but they can't but benefit out of this, unless staying in actually results in a 'net' reduction in the death toll. Unlikely but you never know in this upside down world. The WHO estimates that between 290,000 and 650,000 respiratory deaths globally each year are associated with seasonal influenza. That's a staggering number of deaths but get your drift. There will always be niche companies that benefit in situations such as we find ourselves. Good luck with your trading. This is a time to be active with plenty of dry powder for sure.
Hi TopCatz
I suppose the likes of Dignity will get a one off boost from this but I don't like their debt and I certainly don't like their working practices.
Hi Rosewell, I'm in agreement with you regarding the aftermath coming. It's going to be immense in my opinion and very few stocks will remain unaffected. I've had a bit of time to check out where I think the FTSE is heading on the charts and they appear to be pointing to 4500 even though we've just been through a relief rally on the way there. The bollinger bands alone speak volumes and the lower band that's been hit regularly over the last 6 months are around the 4500 mark so no reason at all why that point shouldn't be revisited and it's not yet oversold on the RSI. The MACD is still suggesting a buy signal but a couple of down days and this could turn negative fuelling a sell off. I'm probably a million miles off the mark as usual but I'm smelling a sell off and will be looking for bargains on the bounce. I could be tempted to buy CEY or supermarkets before we hit the lows on the FTSE but It would be a 'weary' buy. Good day to you.
I am being very selective with specific trades. Out of JLP at the moment but will be back when I get an idea how Covid-19 is affecting South Africa and Zambia. Frankly, I do not believe a word of the infection figures. We saw the lies with HIV and Ebola throughout Africa. So I am not expecting massive gains here, just the odd pump and dump.
I am looking closer to home and looking at consumer finance. Will the increase in small loans be offfset by late repayments and bad debt.
Hi Kalan, Hope you are well
Closed out my WG trade today (£900+). Happy with that but could have had a bit more if I'd closed last night. If today had been a buying day it would have hit the 180's but there you go. Just about every share on my hit list made good gains over the last couple of days so it wasn't particularly share specific, more macro.
Had a look at the FTSE and though there may have been a case for the rally to continue to almost 6000 but definitely looks like its reversing and I was never going to be in anything this weekend.
May I ask your views on the FTSE and Dow as you seem to be on top of the indices chartwise. I don't want to trade against the tide and my gut instict tells me we're shaping up for another leg down. Whether it will breach the key resistance points is anyone's guess but we'll probably have a better idea when we get there. The rising virus count in New York will not help the Dow one jot and we're be hitting our peak here too over the next couple of weeks so the news will be pretty black.
Anyhows no rush but your views on where you think the indices look like they're heading short term would be appreciated. Added GLEN & DGE to the trading list. So many strong companies that make good gains on buying days !
All the best