Jaydee
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:!:
Winmoney, just to warn you, this is known as averaging down and is one of the major trading 'no-nos'
:!:
Winmoney, just to warn you, this is known as averaging down and is one of the major trading 'no-nos'
£3.11
Yes, I've been stung a few times doing it. It's OK if you're buying shares outright, but when you're using leverage it's very difficult to succesfully do.
I just wish I'd bought more at £3 ! It's up to £3.11 now - I bought and sold a small amount at £3/£3.06. I've put in a new limit order at £3, as we may see that price again before the summer is out.
Yes, I've been stung a few times doing it. It's OK if you're buying shares outright, but when you're using leverage it's very difficult to succesfully do.
I just wish I'd bought more at £3 ! It's up to £3.11 now - I bought and sold a small amount at £3/£3.06. I've put in a new limit order at £3, as we may see that price again before the summer is out.
Jaydee
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Yes, it's a bit like picking last Saturday's Lotto numbers today...hindsight is the best trader.
Buying on the bounces?!!
I have been, practically, telling you to sell banks for a couple of weeks. Was that hindsight? That is where the money has been made, not buying against the trend. What are you guys doing? You are looking for a reversal.
What you have to do is wait for the reversal to happen and be confirmed. Then buy the pullbacks.
Until then it's, still, a sellers market. It's all about probable direction. Get that right and you are in business.
Split
I have been, practically, telling you to sell banks for a couple of weeks. Was that hindsight? That is where the money has been made, not buying against the trend. What are you guys doing? You are looking for a reversal.
What you have to do is wait for the reversal to happen and be confirmed. Then buy the pullbacks.
Until then it's, still, a sellers market. It's all about probable direction. Get that right and you are in business.
Split
Hi Jaydee,
Thanks for the rec. That was a nice kneejerk up on Friday. A great selling opportunity. I hope the long traders. that day, took profits and reversed. I did not see that coming but, no matter, I was short and still am.
I do realise that this, probably, will not last and I will get caught in the end, but my rules still tell me that this trend is down and am going to sell into any strength that I find.
Split
Thanks for the rec. That was a nice kneejerk up on Friday. A great selling opportunity. I hope the long traders. that day, took profits and reversed. I did not see that coming but, no matter, I was short and still am.
I do realise that this, probably, will not last and I will get caught in the end, but my rules still tell me that this trend is down and am going to sell into any strength that I find.
Split
Jaydee
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Split, I completely agree.
From an investment point of view, I think it is too early to start looking for the bottom of LLoyds. I still feel the FTSE is being held up by the commodities stocks and once they go, there will be nothing left to stop it heading further South. It will take just about all the stocks with it, regardless of how good they may be on paper. Until the market itself suggests that the bear run is over, I'm not buying any stock.
I think LLOY could out perform the rest of the banks and, consequently, won't go down as far as stocks like BARC and RBS. However, I reiterate, the market is going down, the banking sector is going down (has been for a while) and the banks themselves are going down - I can't find a reason to buy just yet.
In ten years time, the banks will be higher than they are now (probably) - I just don't want to be offside for a year or two before that happens.
I'll be 86 by then! :whistling
Don't think I want wait that long, either.
You're a pessimist. Do you know that?
Jaydee
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You're a pessimist. Do you know that?
yup, for the moment I certainly am but you're the one with the short position so, on that basis, you're even more pessimistic than me £2.96
Even though I am an avid buyer of LLoyds TSB (I used to work for them), I have to agree that now £3.00 has been broken, it may be time to take the sidelines and see what happens. If you can buy and hold, then yes this is a good price. But if you're buying on margin for short term gains, it's too risky.
And yes anyone reading my previous posts will see I have changed my stance !
Even though I am an avid buyer of LLoyds TSB (I used to work for them), I have to agree that now £3.00 has been broken, it may be time to take the sidelines and see what happens. If you can buy and hold, then yes this is a good price. But if you're buying on margin for short term gains, it's too risky.
And yes anyone reading my previous posts will see I have changed my stance !
Have had a business account with them for 6 years and can't fault them one bit. Was with Barclays before who were the opposite. Spoke with my account manager last week who said all the staff were filling their boots with shares - that said, he also bought a **** load at a fiver....
Can't see the importance of breaking 3 quid... 297 area is solid support. Pretty shagged if a decisive break through this level.
Can't see the importance of breaking 3 quid... 297 area is solid support. Pretty shagged if a decisive break through this level.
I closed out of LLOY Friday morning. I should have done it Thursday. Greedy, but I had a good run.
Jaydee
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Probably not, I don't think price is low enough at the moment.
I don't know enough about the retailers to know which is more likely to be weakest. MKS? NXT? I'll have to look into these.
Which do you think out of BARC, RBS and LLOY - I think the latter is strongest.
I'm starting to look at the IT firms too as the IT sector, dotcom boom aside, is normally a lagging sector.
I don't know enough about the retailers to know which is more likely to be weakest. MKS? NXT? I'll have to look into these.
Which do you think out of BARC, RBS and LLOY - I think the latter is strongest.
I'm starting to look at the IT firms too as the IT sector, dotcom boom aside, is normally a lagging sector.