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So the plan: tax payers inject 50 billion to buy into the 8 big banks and another 200+ into a new company that loans money to these 8.
http://news.bbc.co.uk/1/hi/business/7658277.stm
Has anyone been watching/playing the shares. Traders must be making a killing at the moment with 30% plus increases and decreases in a day. No doubt they will be on the up again today.
EssexDave
08-10-08, 10:02 AM
If I had cash to spare I would. But you need to be real brave right now.
Flamin_Squirrel
08-10-08, 10:04 AM
Has anyone been watching/playing the shares. Traders must be making a killing at the moment with 30% plus increases and decreases in a day.
IIRC that's termed as short selling, and isn't permitted at the moment.
IIRC that's termed as short selling, and isn't permitted at the moment.
Its also how one banker earned $1.6Bn last year....lucky clever sod.
Gazza77
08-10-08, 10:10 AM
IIRC that's termed as short selling, and isn't permitted at the moment.
Short selling is selling shares you don't actually own, which is banned. Buying and selling them again quickly is not banned, but you'd have to be quick the rate they are rising and falling!
EssexDave
08-10-08, 10:12 AM
And brave, if you wait slightly too long they could drop down again, or company could even disappear with your shares!
If you want to buy some though i'd look at banks you expect to make it through.
Eg RBS, their shares were about £15 a little while back, I havn't checked past few days but they were around £2 or less, buy a few now wait until they recover.
Of course you can't be 100% sure.
Flamin_Squirrel
08-10-08, 10:15 AM
Short selling is selling shares you don't actually own, which is banned. Buying and selling them again quickly is not banned, but you'd have to be quick the rate they are rising and falling!
Ah my mistake. I though quick buying/selling was suspended though?
Ah my mistake.
can somebody make a note of the date and the time please.
the above occurance is akin to sighting Haleys Comet.
V rare.:smt026
can somebody make a note of the date and the time please.
the above occurance is akin to sighting Haleys Comet.
V rare.:smt026
Superb
Gazza77
08-10-08, 10:53 AM
Ah my mistake. I though quick buying/selling was suspended though?
No, though I do believe trading in RBS shares were temporarily suspended twice yesterday for another reason (something to do with two excessively large sales of shares). As I'm a shareholder (albeit with not many) I'm keeping an eye on them!
Gazza77
08-10-08, 10:56 AM
And brave, if you wait slightly too long they could drop down again, or company could even disappear with your shares!
If you want to buy some though i'd look at banks you expect to make it through.
Eg RBS, their shares were about £15 a little while back, I havn't checked past few days but they were around £2 or less, buy a few now wait until they recover.
Of course you can't be 100% sure.
They were over £21 a couple of years ago, though they did a 3:1 restructure a whilst back, meaning that would be the equivalent of around £7 each. When they did the capital raising exercise a couple of months ago, they issued to existing shareholders at £2, as opposed to the £2.30ish they were trading at back then. They closed at 90p yesterday..... Good job my holding is fairly small, I can afford to loose it worst case scenario, and I was in it for the long haul anyway!
EssexDave
08-10-08, 11:00 AM
Well seeing as they are that low now, nothing wrong with holding onto them seeing what they do. Could be lucky and they shoot back up as our biggest bank after this crisis. Shame though, I only know because I have friends who work there offered the share scheme (3 yes you pay about £25/month into account, end of 3 years you are offered shares, but at the price the shares were at when you started) which is £15 for my mate, or the better option right now is to get the cash given back to you :p
Gazza77
08-10-08, 11:11 AM
Well seeing as they are that low now, nothing wrong with holding onto them seeing what they do. Could be lucky and they shoot back up as our biggest bank after this crisis. Shame though, I only know because I have friends who work there offered the share scheme (3 yes you pay about £25/month into account, end of 3 years you are offered shares, but at the price the shares were at when you started) which is £15 for my mate, or the better option right now is to get the cash given back to you :p
Mine came via a share save scheme (ex-employee) and the recent rights issue. Wait and see I guess. :rolleyes:
If I had theoretically invested £100,000 in HBOS this morning and sold now I would be £50,000 better off right now. I am not much of a gambler though :rolleyes:.
http://newsvote.bbc.co.uk/1/shared/fds/hi/business/market_data/shares/3/23174/default.stm
Nice to see the interest rates go down by half a percent now!
Biker Biggles
08-10-08, 06:50 PM
Has anybody noticed that the "markets" are dictating to governments around the world?They crash and demand urgent cash injections of one kind or another,then rise a bit while they soak up this taxpayers(ours)money,then fall again like spoilt children demanding more and more.And so it goes on until there will be none left.Then what?
Said accumulted money will gracefully retire to those sreas of the world where its owners have interest.Like China,India and the oil rich middle east.Why would they stay here with it when they have cleaned us out?
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