Bank of Ireland shares

Mad_maxx wrote: »

It bottomed at 1.81 according to Google finance, closed at 1.87 according to the same site ?

I bought on the LSE as Google finance gives me a live price for that listing

sorry - Meant I closed off my position around 1.82 !

Agreed. Close over 2 is a strong buy signal, risk sentiment changing a bit in the US and that’ll be the driver for BOI.

Timed closing that short well @1.82, and bought AIB @1:03 (which was undervalued, especially in the context of how BOI has performed over the last few sessions) up a decent chunk on that already and will sell and shift once I see BOI close >€2

Mad_maxx wrote: »

The chunk i rebought at 1.82 last week, I sold this morning at 1.98, still have 25 k worth of the stock long ,if we close above 2 ,il seriously consider buying CFD,s as it should rise past 2.10 if we close above 2 itself

Great, yeah I agree.. BOI is a great one to trade CFDs with, there some nice levels you can pick out for yourself.. best of luck

Mad_maxx wrote: »

A case of having raised cash by selling some and maximising available cash once it appears the stock is breaking out

Haven't traded this one at all in months until that 8 k tranche last week, purchase average is 1.51

Biggest obstacle to a breakout is it left it so late ,with S+P nearing all time high, we are very overbought in the broader market, Bank-Of-Ireland isn't lively to move too much higher if market pulling back

ColdrulzI have read your posts with interest
You had a good run up to 2 euro and sold,as I did
Then, believing 2.05 to be a barrier ,you shorted the share,

That worked well, and you bought in at 1.82 ish to return them.

I too sold out my remaining sub 1.90 shares at 2.02 today, somewhat taking profit,and somewhat believing several posters that resistance was at 2.05
At this moment this remains to be seen today

But my question is "how do you short" i know what shorting is, that you borrow shares and sell them, hoping to buy back at a lower price, then return them.

How do you convince your trading platform that you have them to sell(perhaps i am naive and degiro will sell for me when i dont have them).

If you do need to convince your platform that you have them, how is it done?

I think i read somewhere that Degiro have the right to loan my shares to shorters(for a fee), it does not trouble me, i assume they have the dough to replace them.
Thanks in advance for any info

rugbyman wrote: »

ColdrulzI have read your posts with interest
You had a good run up to 2 euro and sold,as I did
Then, believing 2.05 to be a barrier ,you shorted the share,

That worked well, and you bought in at 1.82 ish to return them.

I too sold out my remaining sub 1.90 shares at 2.02 today, somewhat taking profit,and somewhat believing several posters that resistance was at 2.05
At this moment this remains to be seen today

But my question is "how do you short" i know what shorting is, that you borrow shares and sell them, hoping to buy back at a lower price, then return them.

How do you convince your trading platform that you have them to sell(perhaps i am naive and degiro will sell for me when i dont have them).

If you do need to convince your platform that you have them, how is it done?

I think i read somewhere that Degiro have the right to loan my shares to shorters(for a fee), it does not trouble me, i assume they have the dough to replace them.
Thanks in advance for any info

Hi, I'm not too familiar with the degiro platform and I'm sure there's someone more able to help, but I'll give you what info I can!
You're bang on the money, to short a stock you don't need to own them. You can borrow those shares from a 3rd party in return for a fee - that same fee you're referring to from degiro. In my case I'm trading CFDs so its as simple to hit the sell button as it is the buy- no need to check account types etc.
I have linked the de giro page discussing short selling on their platform etc. you may need a different account type to short so doublecheck.

Best of luck.

https://www.degiro.ie/helpcenter/faq/trading/1127

rugbyman wrote: »

Thank you both for your replies.
i too, am sucessfully trading in B of Ireland

So Coldrulz, when you short or buy using cfd`S do you avoid stamp duty?

I found a tutorial on shorting with degiro just now, hard to hear the chap. will pursue this line

I have read often enough of the dangers of CFD`s, so I will tread warily

Regards

Though there are many , holding at 3 euro, and more, I would like this turmoil to continue. I wish all those holders luck, but not just yet.

yeah CFDs aren't liable for stamp duty (afaik), I actually use spread betting mostly which is also CGT exempt. just be sure to read up before, if you do decide to dip your toe.
Agreed, with leverage comes risk but play it safe, keep plenty of capital free as a buffer, only open positions at attractive levels and don't be cheap on your SL, BOI,AIB are rangebound enough to play around with CFDs/spreadbet on for now IMO.
https://www.cmcmarkets.com/en-ie/learn-spread-betting/spread-betting-vs-cfd

Shorted on Tuesday, added Wednesday with an avg price of 2.05- initial price target of 1.87 (where BOI gapped up last week) holding for now but may close of my EOD if there's not much more movement downwards.
Once AIB hits 1.03 or so I'll be buying in there.

Here's the 5 year chart with the 50 day EMA.

Note that if you had bought when the price passed above the EMA and the EMA was rising and sold when it passed below, you would have made money.

But, note also that the long-term trend is very definitely down and is far from reversing.

D.

Mad_maxx wrote: »

Stock could rise 50% from here and the long term trend would still be down, it doesn't mean much

You’ve said exactly what I said, but in another way.

D.