I have shares in the banks

elizw

I have shares in the banks, Barclays, Halifax, and Lloyds, and have waited in the hope that they will all rise again when some miracle happens. Does anyone have anything positive to say? or has everyone else sold theirs. I dont know what to do and have seen my savings disappear.

ExBanker_2

What price are you in at?

elizw

I have had them for years and all on accumulation shares.

An ifa once said to me - if the banks go we will all go.

KorkyKat

Wait until Tuesday. My gut feeling would be to hold.

Some clever insider posted a few weeks ago that the best time to buy would be the second or third week of October. Lo and behold, last Friday after the Lehman auction the stock shot down. Time to buy.

It's your money but ask yourself are they really going to vanish?

If you are awake late see what is happening in the Far East Markets and the Dow, that should give you an idea of how all the markets have responded to the various initiatives.

Good Luck

ExBanker_2

You could buy more while they are low, in order to average your price down. Depends how you feel about this though. I foree RBS hitting 50p tomorrow- fortunately your not holding them.

What price are you in at on Lloyds, Barclays and HBOS? .

elizw

thank you so much for replying - I have always felt it is best to hold as to sell crysalises the loss - but if the Government nationalises them all - then what - Northern Rock shareholders lost all their money.

ExBanker_2

Full nationalisation is extremely unlikely, but yes, you would lose all your money in the event this happened.

elizw

I received them when the Halifax gave shares to customers and have kept them ever since so I suppose I cannot complain. but I have got a lot now. The others I inherited from my dad years ago.

gozomark

ExBanker wrote: »

What price are you in at?

irrelevant - whats happened has happened. It you think they are going up, buy more, if not sell. your in price has nothing to do with any rational decision regarding what to do now

KorkyKat

I'm listening to the radio as I write. I'm not sure they are going to nationalise them all. It seems like they are going to pour the money in e.g. RBS et al and then get profit from the issue of preference shares. Not sure about Lloyds/Hbos.

It would appear they are workig overnight to resolve some of the other banks. No doubt, like last time, they will get it resolved before the markets open.

ExBanker_2

Incorrect IMO- I was in at RBS at £1.50.. but managed to average down to just 90p. Then they hit £1.15 and a i sold at a profit. Had i not averaged down i could be waiting a long time for them to hit £1.50 and break even!

gozomark wrote: »

irrelevant - whats happened has happened. It you think they are going up, buy more, if not sell. your in price has nothing to do with any rational decision regarding what to do now