The Lull before the gradual ascent?24 Jun 2021 10:21
Good morning all.
Virtually no volume this morning after the frenetic activity over the past few days. I guess we are all waiting to see what will happen when the LFT test is announced (general consensus appears to be that Mandy's reply was indicative of this happening in the next few days).
Also good news that the DHSC liability is indicated to be sub £20m and that we have cash in the bank and a whole raft of news and potential.
My own personal belief is that we should see a gradual rise back up to where we should be over the next few months and that patience will be required, as in the meantime, there will be small swings as day-traders and shorts play out. This may not be helpful if you are sitting on a loss (as I am overall although I have averaged down several times in the 3's and 4's), particularly if you entered and/or topped up in double figures.
The question I keep asking myself is will this come right? And the answer is always yes! I could go on and list out specifically why but I (and many others) have done this in detail many times.
The main question however (which I will repeat), is 'Do I trust the management?'
The answer is absolutely! Some of the vitriol on here over the past few days and weeks about GM in particular has been nasty and uncalled for. I actually take my hat off to him and his team for what they have achieved over the past year or so, and the quality of some of the people added to the management team is stunning.
These newer people are no mugs and would not join something they did not believe was sustainable and scalable in non-Covid related markets, and I expect to see the cash pile used to achieve this.
I think the future is very bright and rosy but a few drizzly days on the way! Good luck all.