RE: How low will the FTSE go on monday?21 Mar 2020 09:10
Yes, that is interesting and very worrying at the same time, it has been reported in the Times that in America Wall Street has suffered as large a sell-off as seen in the great crash of 1929, that was stated on Thursday, on Friday it closed down another -659 points or -3.28%, bankers are urging a halt in trading to limit the turmoil in the markets, so what we can take from all this is we are now all screwed financially in order to save lives in the general population, which is, of course, is the correct policy, unfortunately, economies will be devastated and take years to fully recover, the printing of money or quantitive easing only ever partially works and causes the odd bubble in certain stocks, and with interest rates starting off at virtually zero a double whammy for everyone involved. What can we do now, nothing, cash is king and if you had the foresight to get out of stocks before they fell, well done to you and a good move, we all invested in EUA in good faith and could not have even remotely foreseen that this suspension would have been triggered by a social media tweet out of the blue, expecting it at some point due to the ongoing sales negotiations, not from a tweet by an individual who should have known better.
So, here we are now, locked into this stock that we were all very happy to invest in and trusted the management originally, I still do trust the management, as this suspension is not of their making, and I do sympathise with investors angst in these very troubling times and feel that if ever I had to be trapped into a stock I'm grateful that it is a PGM miner that mines a valuable commodity, I chose to invest in this company no one forced me to, had I a crystal ball I would have invested in supermarkets or pharmaceutical companies, I don't so I didn't, we are where we are on this with the worldwide economy halfway down a cliff resting on a ledge, these are unprecedented times that we are living in now and no one knows the floor.
Hopefully, a cure will be forthcoming and save us from Armageddon, this virus needs human cells to infect and propagate,
unlike a bacteria or germ it does not survive for long outside of its host, unfortunately, it is much smaller than bacteria or germs, they are simply genetic material (DNA or RNA) packaged inside of a protein coating and can be much smaller than germs, as an example of size if you took the human body to represent the size of a single human cell, a germ would be represented by the size of a football, a virus similar to Polio would be represented by the size of an aspirin tablet, a vast difference in size and you can see that using a dust mask to try and protect your self is probably as much use as a chocolate teapot, you really do need a full hazmat suit style outfit, so as the government are suggesting frequent washing of hands is the way to go, criminals apparently use petrol at crime scenes to remove any traces of their DNA or incriminating evidence.
Stay safe everyone
Ian
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