Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
George,
So far so good. Sold my Glen and quite a few others I bought this morning. Kicking myself for not buying Shell in 990s. Hovered over the button and then cancelled.
There could be more upside in US but not convinced it will get much north of 20000. Still think any upside over next few days will be undone on Thursday.
Back in cash waiting for next opportunity.
Just looked back at FTSE and whilst it has been lower (eg 2002/3 & 2008/9) we are now trading at where is was in Nov 1997. So much for progress over 23 years.
Contrast the Dow which was 7600 in Nov 1997 and is now 19000 coming off nearly 30000.
I think my 'drift lower on Monday' comment is an under estimate. It will probably open down 5%+ unfortunately. But timing of US stimulus announcement could change things if it comes out today rather than late on Monday.
Hi Guys,
From my review of the markets there are 2 major events this week which could/will influence the markets in a significant way:
1) The US Senate is negotiating a huge financial stimulus. When I say huge, I mean huge. Rumours are that it could amount to 2 trillion dollars. This is unbelievably large if true. This could give the markets a significant pick-up albeit it might be yet another short term upward blip.
2) Weekly US unemployment numbers on Thursday. last week it surged to 281k which is a huge increase in ordinary times. But this Thursday the weekly number could possibly be 2,250,000+. This is an unprecedented amount and will shock the market.
My strategy is that Monday will drift lower in UK. Senate announce stimulus late on Monday which will trigger a surge in UK stocks on Tuesday. These gains will drift back a bit over Wednesday and then the reality of millions of new unemployed on Thursday will hit the markets big. I still think the Dow will fall towards 15000 and the S&P to 2000. So another volatile week ahead.
All in my humble and honest opinion.
Tom
In hindsight a lot of companies (and especially Glenda) should have reduced debt rather than buy backs at relatively high SPs. There are a lot of companies with not a lot of cash reserves out there that could struggle but their shareholders wanted prior cash surpluses paid out to them via enhanced divis or buy backs. Cash rich companies like Apple are in an incredibly strong position re surviving this difficult period. Even if they have no sales for a few months they will be fine. Like you guys have said, I hope their debt renewal goes well.
Glen has been one of my favourite shares for years but I just can't work out where it is going. On one hand it looks incredibly cheap based on future demand (EVetc) but on the flip side current commodity demand (eg China) has fallen and the debt pile is huge.
To buy or not to buy...….
Ken, I totally agree. I too am in the fortunate position that I'm financially sound. Whilst I 'retired' last year, I have been working again since Xmas but I just lost my job earlier in the week as they cut all contractors. I'm fine with it but if I had a huge mortgage or rent with a young family, I would be ****ting it.
The real positive coming out of this is community spirit that is sprouting up all around the country. I now have time on my hands so I've joined a local group to deliver shopping. Its not a big deal but a lot of people doing a little adds up to a lot.
And our daughter (who is an inner London teacher) has just gone down with Covid 19 and is in isolation.
George,
I sold all of my RDSB this morning between 1048p and 1063p. Needed to do it in 9 or 10 tranches but now gone. Too good a profit in a short time to turn down. I may well have gone too early but my gut said take a profit in this climate and wait for the next opportunity.
Pete, re GVC I bought some at 373p thinking I was clever. I bought the same amount yesterday at 305p so I'm averaging around 340p at the moment. I thought 373p looked such a bargain and didn't expect it to hit 300p yesterday. Whilst I'm still a little under water, I think this will recover soon. Given where this was only a month or two ago, this is crazy. We shall see.
George,
My average is low as this is a very recent investment not an averaging down of a long hold. I bought 80% this afternoon around 920p with the 10,000 a few days ago. But disappointed to be £20k down already. Tomorrow could be another bad day for oilers but I hope not.