Royal Bank of Scotland

catsdad100

Junior member
33 1
RBS low was 1232 on 23rd September 2002 on the same day as the FTSE low was 3739. The FTSE closed today at 3622, so I would say anything was possible. Personally I reckon it will stay over 1300 although I am known to have no ability on RBS. As the Yanks seem to have turned up a bit tonight, at last, I would hope a visit below 1300 would be avoided unless for some obscure reason we go down again tomorrow. There, that reply is as confusing as the markets are just now !! (I would eat my hat if it is not back over 1400 in a week or two). Do I now qualify as an analyst, with the ability to spout nonsense and cover all angles !
 

BlueChip Trader

Active member
165 4
RBS

I think the market sentiment should be positive tomorrow morning
after 9 consecutive down days (FTSE) and as the Dow has finished positive.

Therefore, I do not think that RBS will go below £1300 especially if it opens above 1320 tomorrow as it has formed a double bottom at 1315 today.

My target for tomorrow is £1365.

Good luck!
 
Last edited:

Fluke

Well-known member
456 1
I am pleased to see the views expressed about RBOS,I am long on this one and agree with support at £1300. Sep/Oct the low was about £1195 and the support is at the £1300 level.also the fibbs retracement from the high of £1700 is below the 0.618 level.So im hoping for a an up move soon.
I would welcome any other views to keep this thread going
 

madasafish

Well-known member
470 5
anyone longing anything in the FTSE100 when we are in a bear market and institutions are panic selling .. is just plain chancing their luck.

(I could be a lot more rude but I will be polite).

If you think the economic outlook and the charts say buy then turn your views upside down..
 

RogerM

Established member
752 6
I have to agree with you Madasafish. Life assurance companies are very close to critical capital adequacy levels and when they need to dump shares to meet regulatory requirements, it will be the liquid large caps that are hit first. No point unloading the small caps - not sufficiently liquid to make a difference.

I agree that RBS is a fine business, but when there is panic selling, support levels have little effect, so holding *ANY* shares overnight at the moment is just betting on the toss of a coin imho, particularly with the current geopolitical uncertainty, planned news announcements etc.

You may be lucky J Shepherd - I hope so anyway, because you'll need it.
 

catsdad100

Junior member
33 1
I would have to agree with RogerM, it is absolutely crazy to hold anything (up or down) overnight at the moment. Always remember - "today's cheap is tomorrow's expensive" !!
Have any of you tried HBOS instead of RBS ? I find it much easier to deal with - RBS always feels more like a lottery and Level2 seems to mean little these days, whereas support can clearly be seen to build with HBOS, and generally it is much more readable, hence profitable, for me.
 

madasafish

Well-known member
470 5
buy shares when cheap.. when FTSE yield is > LIBOR + risk premium.. i.e. around 6% FTSE at 2200?
 

RogerM

Established member
752 6
Well, at this rate we'll be there by end of Feb! The H&S top on the ftse gives a target of 2838 based on a semilog scale, or 1520 based on arithmetic scale. With a close at 3460, the ftse 100 is now below 50% of the all-time-high (ATH). Gann followers will now be calling for the 25% level, or 1732.5. If we get it, there will be plenty of bank and life assurance company failures on the way!
 

JonnyT

Senior member
2,560 22
If we get it, there will be plenty of bank and life assurance company failures on the way!

As I'm heavily into these (bought more today) it will also mean I lose my shirt. It won't happen unless Capitalism itself is going to fail.

I see the present as a great buying opportunity

JonnyT
 

madasafish

Well-known member
470 5
well if we fall to 3,000 and stay there most FTSE100 comapnies will be - on paper- insolvent because of their pesnion fund deficits.

Sell RR. BAE,, mind u they should be sold anyway - on funnymentals they are on their way to insolvency
 
AdBlock Detected

We get it, advertisements are annoying!

But it's thanks to our sponsors that access to Trade2Win remains free for all. By viewing our ads you help us pay our bills, so please support the site and disable your AdBlocker.

I've Disabled AdBlock