Griffin Mining Share Discussion Threads

[rose_by_another_name] 29/2/2020 08:52

The US market rallied intra-day on Friday.
Maybe an indication of recovery next week?

"The Dow Jones Industrial Average dropped
357.28 points, or more than 1%, to 25,409.36.
The 30-stock Dow briefly fell more than 1,000
points then rallied into the close in a wild
trading session characteristic of the week."

[alangriffbang] 29/2/2020 08:30

Morning zoo/sage /up , very interesting posts as usual , the only share I am concerned about is HSBC , I cannot work out if the price now is near the bottom or whether they should be moved to something safer, remembering the huge mistake when I move it from national grid ,as you say wall street was a bit calmer as as I’ve said before I think the recovery will be Wall Street led , I am financially very lucky and don’t have to look at the markets for the next couple of years ,( but of course I will ) , going back to hsbc I really wouldn’t know what to move it into to make the losses up , it’s all ISAs and tessa’s ,off out soon back at lunchtime ,have a good morning all ,

[rose_by_another_name] 29/2/2020 08:28

Telegraph:

"However, there is growing concern from health
experts that, elsewhere in Southeast Asia, cases
are going unreported, raising the prospect of a
silent spread."

"Officials are particularly worried about Indonesia,
Cambodia, Laos and Myanmar which, despite close
connections with China, have reported only one
confirmed case between them."

[zooman] 29/2/2020 08:12

Interesting comments, it does go to show how fragile things are in reality. The fact we have the weekend will allow people to take stock and maybe next week will be a little calmer. Its good to read rational comments and views. Have a good weekend.Zoo

[rose_by_another_name] 29/2/2020 08:11

There is a difference between not having had
any cases and not having reported any.

As for Venezuela, they have a lot of low quality oil
that is not much in demand, but aren't any good at
getting it out of the ground. They are already an
economic basket case and an epidemic wouldn't make
much impact on their footprint in world markets. The
USA is no longer a buyer either, since fracking made
the US self-sufficient in oil.

[sageman] 29/2/2020 06:55

Standing back the question is how much should the share price of a strong company be reduced if it has 2 bad quarters due to events outside of its control with business back to normal after 12 months? There are lots of companies who have rightly been hit hard due to the savage nature of the impact eg transport. Also companies with weak balance sheets are very vulnerable. However, strong companies that will emerge relatively unscathed are also being impacted, people will still need utilities and groceries but these companies are being hit too. China seems to be getting past the worst, we will see a vaccine and treatments for the infected are emerging. Wall Street was calmer last night and I expect stimulus . I am unsure if the maximum point of pessimism has passed but I think markets have already discounted the current impact. What has not been discounted is an uncontrolled global pandemic and this is why I am avoiding trackers and just buying targeted quality companies. Good luck all.

[up just a little bit] 29/2/2020 02:37

What a economic weapon COVID19 is........

[up just a little bit] 29/2/2020 02:35

Alan, There is a unknown massive issue here. South America, North America, Africa have not had but a very few any cases OF COVID19. Airlines reaping the cost so far have in my opinion not even started to see the cost of the outbreak. Venezuela the largest of all the world oil reserves has not reported 1 single case. Russia unsurprisingly has apparently not been touched at all. Whilst the mortality rate seems to be under 2.5% the "industrial" incinerators are working at full capacity in China..... News organisations are "creating" news instead of reporting facts. The BBC are leading the field which is a crying shame. Maybe the weekend will bring a sense of balance to the madness of human weakness?

[trawl] 28/2/2020 23:38

when people start saying its got nothing going for it and there is panic everywhere
but there is a solid resource thats buying opp to tuck away

[alangriffbang] 28/2/2020 22:01

I think the turn will be Wall Street led ,it will be very difficult because everything will seem so cheap and it’s whether it’s right to take the plunge or not ,one thing for certain is we won’t get in at the bottom , GFM is not buyable at all at the moment it’s got nothing going for it ,GGP I don’t know what to make if it , it certainly needs some news to stop the drift ,Lloyd’s looks pretty steady and should trade in a narrow range ,Taylor Wimpey pays such a good dividend which should keep people investing in it ,tullow looks completely bombed out ,good luck zoo we may need it ,

[zooman] 28/2/2020 21:47

Alan, what do you think Monday and we could be slipping into the forties? I'm starting to think given the markets we could even see the thirties.Zoo

[phillis] 28/2/2020 21:38

Decent irrelevance

[alangriffbang] 28/2/2020 19:51

Hi CD don’t know what your problem is here but there have been lots of decent posts for days now ,put a shilling in the meter ,

[zooman] 28/2/2020 18:34

Alan, we could be in clink. :-))Zoo

[zooman] 28/2/2020 18:33

Hi CD, because you're the special one. :-) No idea, unless you need to update ADVFN?Although as you say bloodbath, looking at the share heat maps there are some shares heading north. I'm hoping that next week the markets will settle down but looking at GFM people are leaving in droves so not holding my breath.Zoo

[alangriffbang] 28/2/2020 17:50

At least we are not on bread and water zoo ,

[neville1940] 28/2/2020 17:21

Hi Everyone
What a blood bath out there can anyone explain when I try to open up last posts the latest one I could get today was dated 21st February
Cheers
CD

[rose_by_another_name] 28/2/2020 16:41

Lloyds got back to par at the close.

[zooman] 28/2/2020 16:35

Alan, like you I was also tempted with BGO as with Sunrise as well. I've put 50 percent back into GGP and basically treaded water today. I know they've said about an update around the begining of March so this could account for the trading today and it not going below the 4p a horrible day though.Zoo

[alangriffbang] 28/2/2020 16:09

Zoo I noticed bango was up lunchtime ,I was very tempted but very scared ,sage has bought into some good companies lets hope they don’t drop any further , it’s such a gamble , I think Wall Street will turn before we do ,going back to bango it was the only company I forgot to ask invest direct about ,

[sageman] 28/2/2020 15:32

I have bought Aviva, Standard Life, Lloyds and Barclays today at prices I did not believe possible with both Aviva and lloyds at multi year lows and Lloyds circa 30% off this years highs. I will pick up healthy divi's and expect to be sitting pretty in 12 months whatever happens now. I continue to drip money in with 85% of cash still sitting on the sidelines. GFM is back to 2016 levels but we have no debt and Zinc is higher than in 2016. The price is thus not justified but may fall lower. It is just a question of how greedy do you want to be?

[zooman] 28/2/2020 15:06

Alan have to smile, BGO is up if you can believe it. Zoo

[zooman] 28/2/2020 15:04

Alan, the markets are all over the place people buying people selling. Some good money can be made on the rebound just a case of when. Zoo

[alangriffbang] 28/2/2020 14:30

Hi sage and zoo ,just scanned through my IC, articles on Lloyd’s and Taylor wimpy both rated as a hold ,reading hem I wasn’t that fired up about either but there it is ,

[rose_by_another_name] 28/2/2020 14:11

Plus500 is up 11% on the day.