HSBC prognosis

hey everyone, i need some all round advice, got HSBC (CJD) shares today at 735.5, i did so because they had already dropped nearly 5 percent and i figured it was up from there. Thinking about cutting losses, but they may well go up past original buy price early next week. What do you all think??

sebantvale said:

hey everyone, i need some all round advice, got HSBC (CJD) shares today at 735.5, i did so because they had already dropped nearly 5 percent and i figured it was up from there. Thinking about cutting losses, but they may well go up past original buy price early next week. What do you all think??

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HSBC have got massive derivative exposure.

I have banked with them for 15 years - I am almost out of there with the exception of about $10K. My salary still goes in there but I'm looking at Lloyds offshore now.

HSBC could go down.

looks like they're rallying, if i were you i'd keep a stop not too far away from your entry, they've been hit in the last few days on ASIA and also today as Barclays sold off 15%, just cos they're off 5% doesn't mean they will go back up. If you get into a profit, let it run but look to get out if they start pulling back

Thanks for reply, i'm not exactly sure what you mean by 'HSBC could go down', shares for the near future, or the bank generally. I looking very short term to make a profit on my shares. Basicaaly if it goes up again past 800 i make a good profit, even if long term its on a down trend, do you think i should hang in there to see what happens on monday or tuesday, or do you think HSBC share are downhill from now on, and to cut my losses?

hey Foredog, thanks for advice, i did hang on and jumped ship at pretty much the top of that rally, i haven't checked back to see if there was another last minute rally and it went up much further, as i don't see the point in opportunities for regret, i'm happy enough with my profit, which i didn't expect today. happy! Have a great weekend.