A good time to buy banks stocks?

This is a discussion on A good time to buy banks stocks? within the General Trading Chat forums, part of the Reception category; Originally Posted by platnum525 bought them with sharebuilder came out to 8.13 with all the fees and bull**** $1640.00 for ...

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Old Mar 18, 2008, 7:32pm   #21
Joined May 2004
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Originally Posted by platnum525 View Post
bought them with sharebuilder came out to 8.13 with all the fees and bull**** $1640.00 for 200 shares. im new to this
platnum525
you have just bought Bear Sterns at the high of the day.
If JP Morgan Chase do buy Bear Sterns and noone else offers a higher price, you will get $2 for your shares which will mean you lose $6 .13 per share, about $1226 dollars plus dealing fees.
This will not be a good start to your trading.

Last edited by breadman; Mar 18, 2008 at 8:50pm.
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Old Mar 18, 2008, 7:33pm   #22
 
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Its a risk I grant you.... I have a few thousand personal shares in HSBC... these are a long term Tax protected investment... and I will not be selling them "until retirement"... (or until my kids discover them if i dont make it that far ;-] )

I am not a true "value" investor , and I do not "trade" shares... Its my "Guess" in 20 / 30 years they will still be around in some shape or form... and worth more than I bought them for, dividends etc on the top...

Banking is like - death, Tax, and Nurses.... and if banks the size of HSBC / Citi etc,, cease to exist then you wont be worried about share price's as you hide in your basement
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Old Mar 18, 2008, 7:33pm   #23
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bought them with sharebuilder came out to 8.13 with all the fees and bull**** $1640.00 for 200 shares. im new to this

or should i hold onto them
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Old Mar 18, 2008, 7:38pm   #24
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Originally Posted by normbeef View Post
Its a risk I grant you.... I have a few thousand personal shares in HSBC... these are a long term Tax protected investment... and I will not be selling them "until retirement"... (or until my kids discover them if i dont make it that far ;-] )

I am not a true "value" investor , and I do not "trade" shares... Its my "Guess" in 20 / 30 years they will still be around in some shape or form... and worth more than I bought them for, dividends etc on the top...

Banking is like - death, Tax, and Nurses.... and if banks the size of HSBC / Citi etc,, cease to exist then you wont be worried about share price's as you hide in your basement

so what are some sure bets as far as investment if i have 50k to work with
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Old Mar 18, 2008, 7:41pm   #25
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or should i hold onto them
I don't know, I would not have bought them. I do not know if another bank will offer more.I am sorry i cannot give you better advice, you are taking a big risk.
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Old Mar 18, 2008, 8:06pm   #26
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well i pulled out down $350 no biggy need something a little more secure
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Old Mar 18, 2008, 8:22pm   #27
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so what are some sure bets as far as investment if i have 50k to work with
platnum525,

their is no such think as a sure bet. If you have 50k to invest i suggest you are alot more careful where you invest. My opinion is that the market is heading down for the next 3 to 4 years so short bets might be a easier way to make money.As you seem to be new to trading I suggest you put your money in a high interest account and do some research before placing your next trade. Their are alot of good articles on trade2win which should help you with your trading.

Last edited by breadman; Mar 18, 2008 at 9:50pm.
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Old Mar 18, 2008, 9:30pm   #28
 
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Indeed. One never knows when those Black Swans will come out of the woodwork. I mean $2 a share for BSC? Almost inconceivable a year back...
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Old Mar 18, 2008, 9:55pm   #29
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breadman any suggestions on the high interest accounts
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Old Mar 18, 2008, 10:34pm   #30
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breadman any suggestions on the high interest accounts
platnum525,

Do you live in America, if so I don't know anything about American banks and the interest rates they pay. As the base rate in America is now 2.25% I guess the rates are low.
Do you hold the money in US dollars, if so you may want to think about transferring it into another currency. The Euro, Australian Dollar or Gold come to mind although I would not do it now as the US Dollar could have a bit of a bounce.
Do you want to invest for 6 months 1 year 2 years or longer.
It's very hard to give someone advise without knowing their financial position, and even then what I tell you could be wrong.
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