andyfuller wrote:My point was that the falls would probably be even greater if there was no ban.
superfrank wrote:Only Europeans could come up with rubbish like banning short selling. I never heard a mention of banning buying during the 'boom'. It's either a market or it's not. More QE (stealing from future generations) guaranteed now.
Groovyelms wrote:Regarding short selling, am I right in remembering that the respected George Soros made a huge fourtune out of shorting the pound all those years ago... market forces were in play then as now.
andyfuller wrote:Ferru123 wrote:A tweet by Lord Sugar (which Peter Jones from Dragons' Den agreed with):
Bank shares seem too low,I bought LLoyds RBS and Barclays Friday. Don't follow me I'm no expert.Take professional advise if u fancy a punt
Lord Sugar bought on 12/08/11:
LLoyds (LLOY) = 33.82p
Royal Bank of Scotland (RBS) = 26.49p
Barclays (BARC) = 187.20p
LLOYS = 31.12p (-7.98%)
RBS = 23.67p (-10.65%)
BARC = 165.5p (-11.59%)
Indeed Lord Sugar you are no expert, note to self: Do the opposite of what Lord Sugar suggests
View: Buy at 29.62
Have been playing about with Lloyds and attached the Charts for daily and hourly.
The downtrend LLOY have been in since Feb 2011 seems to have come to an end as shown on the Daily chart. It now seems to be in an upwards trend as shown on both charts.
However, there are several resistance levels it will be encountering. The current one is at 30.2p it has tested this level a few time in the last few days and failed to break it. This level previously formed a support level back in September and October 2011. I would be looking for it to break through this level in the coming days given it is trending upwards. If it were to keep on failing to break through this level in the next week I would get out of the buy order.
The next level of resistance looks to be just above at 31.6. This is likely to form a stronger level of resistance than 30.2p as it was previously a strong level of support as shown on the Daily chart during the second half of September and much of October 2011. But again I would be looking for it to break this level given the current up trend.
The major level of resistance after this is not until 38.1p. Which stopped rallies in both September and November 2011.
So my current view would be to buy at the current price 29.62 with a bullish view that it will break through the next two levels of resistance and continue in the current uptrend. If it fails to break these levels I would put a stop in just below the 27p resistance line as it may fall back to this level before testing the higher levels again. I would look to run the trade up to 38p but reassess the charts before then.
Then again you could just say I have drawn a lot of colourful lines on a few charts
Lets see how it plays out....
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