Barclays

Bristolguy · May 14, 2011

Hey,

Not sure if anyone else is following this stock but it has reached a support area at the moment. Will be watching it closely Monday to see if she starts to bounce back up. Candles are looking promising.

Atilla · May 14, 2011

Bristolguy said:
Hey,

Not sure if anyone else is following this stock but it has reached a support area at the moment. Will be watching it closely Monday to see if she starts to bounce back up. Candles are looking promising.

Last time I looked at Barclays - I would say 250-260 is resistance and it may well touch 240 before reaction kicks in.

My guess would be after failing 280 it will continue downwards...

Don't be too hasty...

Bristolguy · May 14, 2011

Certainly not would defo wait for confirmation first before entering.

Trader 1 · May 14, 2011

Id be a bit wary of banks at the moment

If anything id look at lloyds which is oversold not only technically but fundamentally too and has less exposure to euro debt than the other banks

Atilla · May 14, 2011

Trader 1 said:
Id be a bit wary of banks at the moment

If anything id look at lloyds which is oversold not only technically but fundamentally too and has less exposure to euro debt than the other banks

They've got toxic HBOS in their books with unknown exposure to bad debt...

They are on a long road to recovery imo...

I'd hold off buying them until full recovery is in sight...

Trader 1 · May 15, 2011

Atilla said:
They've got toxic HBOS in their books with unknown exposure to bad debt...

They are on a long road to recovery imo...

I'd hold off buying them until full recovery is in sight...

the whole of hbos is an unkown entity. a full recover wont occur for years imo but if your after a 15% - 20% return in the next couple of months lloyds is a better bet

Atilla · Jun 16, 2011

Atilla said:
Last time I looked at Barclays - I would say 250-260 is resistance and it may well touch 240 before reaction kicks in.

My guess would be after failing 280 it will continue downwards...

Don't be too hasty...

Barclays currently @ 254... (Better than buying at 274 in May. Also note it failed on 280. From yours truly :smart: )

Now may be worth a punt if other banks look shaky. However, in the current climate may still test 240.

I'd recommend waiting until Euro/Greece fiasco plays out a little more. I'd guestimate start of August be a good time to review...

BeginnerJoe · Jun 16, 2011

If it can't hold the current level, it will sink like a rock. The financial sector is being dumped like there's no tomorrow.. Any bounce is likely to be a false dawn and a dead cat bounce. The macro economic crap is not going to disappear in the short term.

Atilla · Jun 17, 2011

BeginnerJoe said:
If it can't hold the current level, it will sink like a rock. The financial sector is being dumped like there's no tomorrow.. Any bounce is likely to be a false dawn and a dead cat bounce. The macro economic crap is not going to disappear in the short term.

True but there will be selection of Banks deemed to be strong.

It's like you don't have to out run the grizzly bear - just run faster than the last two slowest runners. There could be an upside during the turmoil.

I would favour Barclays based on them not requiring gov help before.

But concur better let dust settle first.

Bristolguy · Jun 25, 2011

Id watch this current level very closely, Barclays at lowest point since May 2009. Watch for reversal or potential downside from this point ?

Has not broken this point and has support thus far. Next week will determine where we go i think.

barjon · Jun 25, 2011

Aye, sitting right at the bottom of longer term support zone (monthly chart). The money's been on the short side for the last month or so and I'll still be favouring short (even though I've covered already

) unless barc recovers beyond 260.

As beginner joe says, the background stuff is still very uncertain and I dare say news and rumour will trigger a lot of volatility either way.

good trading

jon

Atilla · Jul 19, 2011

barjon said:
Aye, sitting right at the bottom of longer term support zone (monthly chart). The money's been on the short side for the last month or so and I'll still be favouring short (even though I've covered already ) unless barc recovers beyond 260.

As beginner joe says, the background stuff is still very uncertain and I dare say news and rumour will trigger a lot of volatility either way.

good trading

jon

There may still be downside but I've gone long this afternoon.

Long on Barclays @ 210.9, SL @ 200.9, Target @ 230.9

Long on Lloyds @ 43.2, SL @ 33.2, Target @ 63.2

barjon · Jul 20, 2011

Atilla said:
There may still be downside but I've gone long this afternoon.

Long on Barclays @ 210.9, SL @ 200.9, Target @ 230.9

Long on Lloyds @ 43.2, SL @ 33.2, Target @ 63.2

You're a bold fella, atilla

and that's a hell of a stoploss on LLOY. I think I'd be protecting it (at least in part) with a pro-rata FTSE short if it closes to a new low (below 41)

jon

Atilla · Jul 20, 2011

barjon said:
You're a bold fella, atilla and that's a hell of a stoploss on LLOY. I think I'd be protecting it (at least in part) with a pro-rata FTSE short if it closes to a new low (below 41)

jon

You know the saying - time to buy when there is blood on the streets and panic grips the nation... I originally bought these around 20 / 60 something once upon a moon. Got out way too early though.

However, Lloyds I always had 40-50 as a target zone. You may be right about a drop below 40 - but I do think Barclays and Lloyds will be two that survive. Government owes and owns Lloyds TSB so I reckon good long term bets. We'll see.

Atilla · Jul 20, 2011

Barclays - 218.6
LloydsTSB - 43.8

In profit zone on both... Markets always over react.

My sentiments were that the disastrous bank stress tests were well received. Always hype but so are the markets. Hype and fear. Will move to break-even SL soon and then just watch what happens.

Atilla · Jul 21, 2011

Atilla said:
There may still be downside but I've gone long this afternoon.

Long on Barclays @ 210.9, SL @ 200.9, Target @ 230.9

Long on Lloyds @ 43.2, SL @ 33.2, Target @ 63.2

Closed Barclays @ 223.9

Closed Lloyds @ 44.7

That'll do me... To much uncertainty...

Bird in the hand is worth two in the bush eh?

counter_violent · Jul 21, 2011

Atilla said:
Bird in the hand is worth two in the bush eh?

I thought it was :- Bird in the hand does it on the wrist !

WD btw

Atilla · Jul 22, 2011

counter_violent said:
I thought it was :- Bird in the hand does it on the wrist !

WD btw

Cheers CV, but seems like I pulled back too soon.

Story of my life.

Must not let brain interfere with targets
Must not let brain interfere with targets
..
..
Must not let brain interfere with targets

I really must stop listening to the news but at work we have 42" screens all over the floor. I have 13 pointing at me. I'm not superstitious but I may switch one of them off.

Bristolguy · Jul 22, 2011

Big ouch Barclays now at 248p and Lloyds 48p.

Atilla · Jul 22, 2011

Bristolguy said:
Big ouch Barclays now at 248p and Lloyds 48p.

Yep - that's the sigh of relief effect after the fear. I see this a little like getting a mortgage and then realising for the next 25 years you've got to serve your sentence. Getting debt is easy. Hard part is paying back...

Greece being one of the smaller economies/countries/popullation size with the biggest debt.

Market trading conditions so much harder than ever before too.

Does anybody watch the Keiser Report on www.rt.com

I thought this was interesting. http://rt.com/programs/keiser-report/episode-166-keiser-occupywallstreet/

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