Is the Time to Invest in Banks approaching?

SouthCoast

An amazing volume traded.

BARCLAYS ORD 25P (BARC) 69.76</SPAN> +18.56 (+36.25%)</SPAN> British Pence as of 05:13 PM GMT on 26/01/2009 (London Delay: 15 mins.) Previous Close Open Volume Day Low Day High 51.20 63.00 241,980,651 60.10 91.10 on 23/01/2009 on 08:05 AM on London on 08:06 AM on 03:24 PM

sabretoothtigger

Yep 4 times average however the price is 6 times below a year ago so overall cash traded or confidence shown ? is still not great even on a turn around day

Kinda similar to 100/1 odds on a horse, lots of people having a punt doesnt mean its going to win, so be wary of speculative volatility long termer peoples


I wonder about investing 10 dollars a month starting from the 1929 crash upto FDR taking office, basically the entire bear market.
How bad an investment would that have been, how long till it showed a profit, a decade?


The big shorters will be fine because they took their positions when the price was double was it is today. A 75% rise from the low doesnt counter the 50% fall from the peak, funny business.

Paulsons hedge fund has been shorting since before last summer and hasnt been forced to close that afaik, would be interesting to know when he does



I dont track Barclays but Lloyds:

TR-4 :
Disclosure of Short Position relating to UK Financial Sector Company


1. Full name of person(s) holding the disclosable short position :


Paulson & Co. Inc.
2: Name of the issuer of the relevant securities


LLOYDS BANKING GROUP PLC
3: Disclosable short position


0.79%
(*NOTE: change is due to acquisition of HBOS by LLOYDS)
4. Date that disclosable short position was held


19 January 2009

After a 36% rise today its 65 but he took a short above 100 afaik and probably will hold for a long while yet (He was transferring his hbos short afaik)

I,_Brian

Banks are roaring away today - all falls over the past week have been wiped out for Barclays and Lloyds, and RBS is up to 16.5p now.

A clear indicator that the past week's pricing was due to panic, not fundamentals, and normality is returning to the banking sector share prices.

Those who jumped in - well done.

gozomark

congrats from me as well :-)

interesting that the overall market isn't going up with the banks, suggesting its switching out of other sectors into banks, rather than cash being committed to the market, so investors still nervous. £ has risen from 1.38 to 1.42 v $ since Friday, presumably as investors less concerned tha banks to be nationalised

Reaper

Decadent_Fool wrote: »

Very nice Reaper!

What's your upside target? I'm aiming for 1.50...just not sure when that's going to happen Not too long though I feel; lets see what the results bring in early Feb

I'm agonising over it. My feeling is there is more (much slower) growth to come but a profit's a profit and I'm severely tempted to take it, particularly as it pays for the loss I made on my other rather unwise speculative bank stock - HBOS (shudder).

I'll probably hang on to it for a few days more before my nerve breaks and I cash it in. The Lloyds shares I'll keep for the long term. When the recession ends the benefits of such a large banking group will become apparent.

[Deleted User]

I sold lloy yesterday to wrap up a 60% profit. I am hanging onto barc

edit: sold barc too

welshmoneylover

Woohoo

I've taken a gamble this morning and bought:

LLoyds x 300 @ 0.72p
RBS x 250 @ 16p

Am going to keep these for the long term so done it via certified dealing. I know it's dearer but I thought a nominee account would chage me £ for inacitivity!

Hope I've done the right thing as I'm going back to being a novice trader, its been over 20 years since I bought & sold shares.

Sue

[Deleted User]

I sold barc at 67% profit. May buy back in time

gozomark

well done :-)

don't fall in love with barc - just because it worked once doesn't mean it will work a second time, and even if it does, it maybe better to buy a different bank next time round.

SouthCoast

Should this discussion be on the Gambling Board?