I think that we all believe the stock will come back so its just a matter of time (given that the general market behaves itself). Sorry if anyones getting margin calls.
As for the India situation, it makes no sense for the USA to impose sanctions if they get the right response from India. For their part, India cannot afford sanctions and aid cut-offs.
Fortunately, Bill Clinton recognises how important the thriving economy and market is to the US budget deficit, so, now that India made their point, and Bill Clinton made his, I fully expect a diplomatic solution to be quickly forthcoming. Given that Britain has a soft spot for the old Commonwealth countries, and particulary Mountbatten's India, I doubt they will go with the USA on this one and will no doubt be mediating somewhat to make sure India makes the right noises so that the Birmingham meet doesn't get sidetracked too much. Given that no-one seems to know what the sanctions actually mean and how far or little reaching they will go, its difficult to envisage what the company could say to tell shareholders they won't be affected !. Course, I could be wrong but believe I'm playing the odds here.
As for the stock price, it may gap down tomorrow ... and I will be buying more, but I expect it to finish positive for the day. We'll see. When it moves, the short covering should help the price move very quickly, with a large spread, so catching the bottom would be kinda difficult anyway.
Good luck to everyone !
Stephen |
