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| By
bluejay |
03/12/2020 10:37AM |
The fear factor in the stock market is overwhelming. The unknown factor is how much of it is justified? There are really too many unknowns and no one has the experience in dealing with how people will exactly react to the recent news of a pandemic gripping the world.
There is good news. To my knowledge, my OAU holdings are safe and Alleghany may turn out to be the best place to live, especially if you are older.
Just heard a lady who has contracted Coronavirus in NYC was here last week in Las Vegas at the Mirage Hotel and Casino Resort. So, it will just be a matter of time until this virus spreads here.
It's known the virus does not like heat. Well, with temperatures expected in the 100's starting possibly as early as June, we may have to wait until then for it to pack up and leave.
I'm stocked with colloidal silver, natural vitamin "C" powder and elderberry tincture. I'm taking a little bit each day as a preventive and staying at home with my wife and our dog. We are having most everything brought to the house. Thank goodness for Amazon, FEDEX, UPS and the Post Office.
It was heard that a branch of Bank of America here had a $10,000 limit on cash withdrawals and if you want more, you would have to order it ahead of time.
The stores apparently are seeing a buying stampede here with people looking for first, bottled water and toilet paper. |
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| By
bluejay |
03/09/2020 11:39PM |
The Dow today was off 2000 points sinking below suspected support from a 500 day average at around 26,000, closing at 23,851.02.
Fear is grabbing the public as this new Coronavirus has been identified by Francis Boyle as an escaped weaponized virus from a lab in China. This event of indirectly reported news has stirred up the investing public. Also, over the weekend talks between Russia and Saudi Arabia broke down in an attempt to cut back oil production to lessen crude oils recent weakness.
Most disturbing to the public is remarks by a few respected people that the world infection rate may reach 83% with a combined 15% mortality rate. This would appear that the media is not reporting the real news.
So, the Dow will most likely remain unstable as this apparently correct new information sinks in.
Martin Armstrong states that this market is just testing support and infers that the bull trend is still in place, agreed here.
Next support is in place from the 1000 day average on the Dow at about 23,450.
On a personal note, I keep elderberry tincture in my medicine cabinet. This is a known flu killer.
If the flu bug enters your mouth, drinking some water every 15 minutes will wash it down to your stomach where stomach acid will kill it. Do not drink cold water. Room temperature to warm water does a better job in getting it down to your stomach.
Good luck in taking care of yourselves. |
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| By
fredmcain |
03/05/2020 10:15AM |
Blue Jay,
I largely agree. I try to turn out market turmoil like this because I've lived through so many bad stock markets that I've grown numb. Long term, stocks always bounce back and the old "ceiling" eventually becomes the new "floor". This too shall pass !
Sadly, the news for investors trying to buy OUR stock, is not so good. (See my latest post below in our "stock" thread).
Regards,
Fred M. Cain |
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