Royal Bank of Scotland - what the hhh??

[kkarank]

December 5 - RBS shares jumped up almost 60 p as RBS announced that their quarterly results would beat analyst projections

I bought 700 CFDs at 1910 thinking that it would surely not be able to maintain such a steep rise and that the price WOULD dip down to its MA over the newx fee days .checked the bollinger bands,trend signals - RSI - !!!

WRONG was i ! - three days and the stock has been climbing ! way past its 52 week high and i am running huge losses

anyone holding RBS CFDs on a short position ?what are the plans - do you expect it to come back to around 1920 or so ? i know the brokers have revised it to 'buy' with a price target of 2050 ????

 

[kkarank]

I bought 700 CFDs at 1910....

Sorry correction there - i sold 700 CFDs..

 

[peto]

Sorry correction there - i sold 700 CFDs..

Wishful thinking perhaps?!

Who knows what it'll do. I see it made a high of 2067 in May 2002, which might afford some resistance. Perhaps the foray into the 2000's will provoke some selling back down again.

There again it could keep going or the price could collapse on Monday. Risk management and stops needed.