What do you guys think, they were 0.12 last week and now they've more than doubled in a week, worth a shot?
was thinking the same yesterday but went against it. the irish banks, and the world markets, are still in a big state of upheaval. nationalisation of one of the banks is still a possibility and you have to remember that 20c is still and extremely low share price which shows that there is no confidence in BOI from major players in the market.
Im making a fortune on these banks.
Without fail, every time the US banks do well. As soon as the Irish markets open, the irish banks follow and vica versa.
Its like shooting fish in a barrel.
Noticed the same pattern myself , but didn't do anything about it.
What method are you using to cash in ?
Im only buying on the upswing. Obviously no shorting the banks anymore.
When the US closes with big gains in the banks, I check the news in the morning. If there is no bad news, then im buying (50/50 on AIB and BOI shares) on opening and selling at about 1pm, no matter if i think it will keep going up or not.
Then rinse and repeat.
Its been very profitable so far.
The world economies and financial systems are still a mess. some highly respected people saying it's still going to get worse and others that it'll get better. Who knows. What we do know is cash is king. The best time to buy will be when there is a two or three month period of sustained growth, no really bad news, spreads falling etc etc. Some sign that the whole system is correcting itself and the fear driving the prices down has subsided. There is going to be massive upside out of ths turmoil and if I miss 20% of the upside, still means I get 80% of it. Sounds good to me and don't need to call the bottom.
Eventually they will be worth a punt but not for a long time yet imo.
First of all this should be moved to the other forum.
Secondly in response the above statement- this makes little (common) sense. The only thing I can sense from current prices is the prospect of nationalisation is likely. If you have good reason to think otherwise, you know something most people dont. Ergo, if they are worth having a punt on in the future, they are worth having a punt on now.
1. Why is this not in the BOI thread.
2. Why would you buy after missing the big move?
Im not buying to hold.
Im buying because irish bank shares follow whatever happens in the US without fail lately.
Buy after a rally in the US and sell later that day. Working out 100% so far for me.
The first day i lose money doing this is the day i stop doing it.
Actually it makes perfect common sense.
Like yourself I have no idea what way this is going to go....They could be nationalised, they might not. When this global mess starts to sort itself out and people start regaining confidence in the banks and the Irish economy and if BOI avoids nationalisation then it is a sensible long term punt. Im not talking about buying it and selling it three days later to make a quick buck...Im talking buy and hold.
At the moment its a big gamble imo and I prefer to save my gambling for the bookies....just because I might miss the initial surge doesnt mean there is no value there.
Wouldnt touch them.Dropped to 12 cent and up today to 50 (B of I). Culd drop like a stone. U.S. financials on the decline today so expect Ireland to follow on Monday.
Hay I was wondering could anyone give me some advise.
I have bought some Bank of Ireland Shares purchased at around .60 and .30, but i have say 5k, to play around with which i would like to invest.
I am absolutely cutting my throat that I didnt purchase the shares at .12 , will they drop that low again does anyone recon? and would it worth investing 5k in them if they did? or are they on the increase now?
They may yet be worth nothing.
I dont think buy and hold is not the best strategy with the Irish banks.
If i were you i would sell now and stay away from the banks.
The only possible reason to buy banks is to turn them fast and take a quick profit if you can. Certainly not to keep.
I'd agree. Take a quick punt and get the hell out.