Day Trading & Forex Forum

wallstreet1928

i was thinking of going long on barclays again but have noticed a sharp drop after

"Barclays raises £7bn from Middle East

MoneyAM

Barclays said today it is to raise £7.3bn from investors from Qatar and Abu Dhabi to allow it to avoid taking government rescue cash.

The bank said it is raising up to £3.5bn from Sheikh Mansour Bin Zayed Al Nahyan, a member of Abu Dhabi's royal family, giving him a 16.3% stake.

It is raising up to £2bn from Qatar Holding and £300m from Challenger, an investment vehicle of a member of Qatar's royal family. That could leave Qatar Holding with a 12.7%stake and Challenger with 2.8%.

Barclays also issued a trading update saying group profit in the first nine months of this year was 'slightly ahead' of the same level a year earlier"

that should be positive for the company, why the excessive selling from 225 - 185?

96pills

i also want to kno the answer to this. i smell an opportunity...

BlueIndex

BUY BARCLAYS

Technicals

Shares in Barclays retraced sharply from the 20 day moving average area of 225p this morning, taking the stock to back to prices of a few days ago. This should be a cue for a new rebound in the sense that the stock has recently put in support in the 170p – 175p zone

Latest significant fundamentals

Barclays has raised $11.8bn from various Middle Eastern sources, effectively sidestepping the Government facility that it could have

gc1

It's been reported that they are paying a 16% interest rate for those funds and it is suspected that they are putting director's interests before shareholders interests (as the cost of funds is greater than that offered by the UK government, and they went to the middle east investors because that would avoid curbs on pay and bonuses).

96pills

thanks gc1

wallstreet1928

interesting............but i went long at 183 and got out at 187 making a little £50? ? i panicked and couldn't hold on......in this market any profit should be latched onto as its so volatile??? and it proved a good thing to do as its at 170 now...........

I'm thinking of buying long 5000 shares long this time rather than 2000 previously?

but have to put tight stop loss or should I buy in increments of 2000 shares, 170 is a good support level and worth going long with 5p stop loss .......

what do you reckon guys?

wallstreet1928

225 to 170 ........... 55 pence drop reflects the bad news surely!!!!!!!!!!

any views appreciated ???

96pills

get 20000 on a cfd i wud go for it