Is anyone here short-term buying & selling?

Glacier

Forgive my ignorance, but are the only people buying bank shares people who are just looking to make a quick profit and so can anyone here admit to doing it? Also, looking at the volumes being traded, is this much more/less than usual times? Just looking at the numbers now, BOI up 50%. Has anyone here made money doing it?

woodseb

Glacier wrote: »

Forgive my ignorance, but are the only people buying bank shares people who are just looking to make a quick profit and so can anyone here admit to doing it? Also, looking at the volumes being traded, is this much more/less than usual times? Just looking at the numbers now, BOI up 50%. Has anyone here made money doing it?

i think you'll find lots of people willing to admit they've made a profit;)

Glacier

Honestly though, who here is doing it?

Compak

I dont short term buy the irish banks but have done it for american companies can be useful when battered and oversold like many will see BKIR as.

Have made 130% on ford, 79% on GM, 92% on BAC, 10% on Citi and 300% on LSE:tan in my previous short term buys.

Point is had i held these stocks would be in a loss in each one. the same happens with Irish banks with same volatility.

Only shortterm now is back in Citi, will sell when they hit $2.5-3

Recent stock volumes in Irish banks are through the roof and cant possibly be normal investors unless institutes are shorttem trading them

Glacier

Thanks. Anyone else?

nulabert

Trying to get money in the Sharewatch account for monday and then i reckon i'll give the day trading a go. BOI & AIB are on the verge of Nationalisation ? But i reckon its worth having a few quid ready as an announcement to nationalize or not to nationalize may tip the share price in the right direction... Its strange though, it seems all the big traders are gone, AIB announce a 1 billion profit and the price drops?

Its high risk, its definitely has to be a gamble with money you can afford to loose! Maybe horse racing might be a better gamble!

Compak

AIB are onverge of nationalisation because sp drops and people who post on the internet must know all?

AIB are much more likely on the verge of a strong rebound if mysterious buyers announced

woodseb

Compak wrote: »

300% on LSE:tan in my previous short term buys.

sorry if i'm being glib but how did you make 300% on LSE?

Blackjack

Bought some AIB at the top of about 23, bought more to average in recently.

Have a total outlay of 500 Sterling, if they reach 3 euros per share again I'll sell and even out.
I'm not a big player, so I've only ever bought what I can afford to lose. I've pretty much written it off already, so can afford to wait or lose it if necessary.

Bit of a bitch, would like to be able to give a better story, but that's life.

Compak

woodseb wrote: »

sorry if i'm being glib but how did you make 300% on LSE?

Very easy on penny stocks however my apologies it was 200% profit its just I write off my investment so I counted it as 300%

In Dec was in stock form 3p got out close to 9p

Another company alizyme in a two week period in Spetmember made the same 7c to 20c after good clinical trial news

Also protherics another LSE stock got taken over and made 130% last year

daveirl

This post has been deleted.

JackieT

I think there's still plenty of room to the downside in regards to the financial sector, I don't think it's time to get into equities yet - I suspect the S&P 500 will hit the 400 range later this year (now at ~690).

I do short and medium term trading, generally forex, but also shorting any rallies on the major indicies and bank shares in general (swedbank at the moment)

You can make loads of money on penny stocks, but it's just a gamble in my experience, so personally i stay away from them. As for bank shares in particular, there are just too many unknowns to pull the buy-trigger just yet

Blackjack - it's a bad idea to average down, you'll end up blowing your account sooner or later. Adding to winning positions works well though

Blackjack

JackieT wrote: »

Blackjack - it's a bad idea to average down, you'll end up blowing your account sooner or later. Adding to winning positions works well though

Appreciated - it wasn't a big punt and it's as far as I'm willing to go in. As I mentioned, it's a max investment of 600 sterling, which is as much as I'm prepared to gamble.

Made it all previously on Elan (bought at under 3 and sold over 21) so I'm not hugely pissed off.

stepbar

The Irish banks will be lucky to turn a profit next year at all. BOI announced profits of 650 mil for the first 6 months of the financial year. http://www.rte.ie/news/2008/1113/boi.html
There is a good indication that this is what it will stay at for the full 12 months. It's no wonder there's so much uncertainty in the market at the mo.

Just to give an indication, I have 200 shares in BOI which were given to me @ 4.51. Do the maths @ 19 odd cent. The shares I have are worthless.

I don't have 6 months figs for AIB but I guess that the last 6 months of the financial year were a rightoff altogether. I'd appreciate if someone could pull up these figs as I cant find them.

Compak

A profit? That would be amazing and never happen

What shareholders hope is that net loss wont be over 2 billion or much over anyway

Glacier

BOI was down 35% last week then bounced up 50% the next day. Surely, there is opportunity to make money in the short run? How long do you think this uncertainty in the banks could continue?

Glacier

Are there huge volumnes of shares being sold in Banks at the moment? Also, if either of the Banks were to be nationalised, wouled there be much notice or would it just happen? I think Anglo was widely expected to go down before it did, right?

Compak

No volume is low in banks at moment. It was incredibly high last two weeks though.

Anglo act rose from 11c to 33c and then back to 22c juat before nationalisation so people still made 200% profit as it collpased

Glacier

Is volumn in Banks low?

Glacier

Well? Is it?

Compak

You have already being answered

Glacier

It's higher than any other shares. Is that just always the way?

Compak

Compak wrote: »

No volume is low in banks at moment. It was incredibly high last two weeks though.

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