What's going on with Barclays share price?

[boxster9]

I've been keeping an eye on these banking shares. 60p earlier on in the month, now shot up to 173P, up 25% today alone.

Anyone know what's going on here, is this due to the recently announced US bailout package?

[fieldl]

The FSA have given their books a pretty clean bill of health and it would appear they don't need additional funding to increase their liquidity. Which means they can opt into the Government insurance without giving themselves to the government. Fair play.

[Carreauchompeur]

Yep, very nice... Have sold some Lloyds shares today to lock in a 40% gain from the past few weeks. Was hoping for a late Friday dip but it didn't come so will have to keep an eye on the price Mon to possibly buy back in.

[NoelWatson]

boxster9 said:

I've been keeping an eye on these banking shares. 60p earlier on in the month, now shot up to 173P, up 25% today alone.

Anyone know what's going on here, is this due to the recently announced US bailout package?

Wasn't in this afternoon, but this might have had something to do with it

http://ftalphaville.ft.com/blog/2009/03/27/54109/b...

[pacey_sot]

Why did you have to post this lol

I sold 328 shares in Barclays last week, I would have made £300 profit in a week on them if id sold them now instead...

damn you!

Live n learn, live n learn

[boxster9]

Thanks for the info, question now is whether to hang on with my modest stock or lock in a gain. I have a feeling they will start dipping on Monday morning.

[Racing Rod]

boxster9 said:

Thanks for the info, question now is whether to hang on with my modest stock or lock in a gain. I have a feeling they will start dipping on Monday morning.

Put a "sell" stop order in place at say 1.70 ish, if the shares start to drop on Monday then you automatically sell at your set figure and retain any profit. If the shares continue to rise, then you go with it. You can amend your stop order as you go, i.e upgrading as the shares rise.

I did this today about 6 times, made a very respectable return, maybe not 100% of what I could have made, but 75/80% is not bad and fairly safe.

Thank you Barclays, you have just paid for a 2 week family holiday which we would not have otherwise been able to afford

Virgin Upper class please, and the 5 star beach resort with butler service will do nicely, well, no harm in dreaming.

[Kieran]

boxster9 said:

Thanks for the info, question now is whether to hang on with my modest stock or lock in a gain. I have a feeling they will start dipping on Monday morning.

Boxster9, that's a tough call, there has been so much volatility in Barclays over the past three months your guess is nearly as good as the markets. I sold today to realise gains at what I thought would be an unrealistically optimistic 160p limit order only for it to carry on to 173! The question is whether the full impact of the positive FSA news has been absorbed by the market yet, however there appears to be such an appetite for positive news in the sector at the moment then it is impossible to predict Monday’s reaction. If there is some profit taking then there may be a downward reaction. If it drops back down to 150 in the short term then I’ll be tempted to get back in for another ride.

[boxster9]

Racing Rod said:

boxster9 said:

Thanks for the info, question now is whether to hang on with my modest stock or lock in a gain. I have a feeling they will start dipping on Monday morning.

Put a "sell" stop order in place at say 1.70 ish, if the shares start to drop on Monday then you automatically sell at your set figure and retain any profit. If the shares continue to rise, then you go with it. You can amend your stop order as you go, i.e upgrading as the shares rise.

I did this today about 6 times, made a very respectable return, maybe not 100% of what I could have made, but 75/80% is not bad and fairly safe.

Thank you Barclays, you have just paid for a 2 week family holiday which we would not have otherwise been able to afford

Virgin Upper class please, and the 5 star beach resort with butler service will do nicely, well, no harm in dreaming.

Racing Rod, that seems like a good idea... I use barclays stockbrokers, do you know whether ammending a stop loss would incur a fee for each ammendment? secondly do they charge if your order is not fulfilled (sorry I am new to this game )

[Carreauchompeur]

Nope, stop-losses are only chargeable when the deal is executed.

[Racing Rod]

Yep, no deal no fee and no charges for instructions.

I use the BARX system with Barclays, find it helps to be right up to the second. I looked at the Barclays trades in detail today and despite regular holds and slight drop backs for profit taking, it just kept on rolling. I had 15000 shares and started selling at 1.55 as I really thought that would be as far as they would go, sold 5000, and held the rest.
At 1.65 I thought Xmas had come early and dumped another 5000. I still hold 5000 but have put a stop "sell" order on them at 1.72. Hell, if it stops here then it's been a bugger of a ride over the last few months, bought some heavy back in November but averaged down when they were 60 ish, so weighed in at circa 97p, nearly took an early profit when they cleared my position by 5p, but heard about the pending sale of i-share or whatever its called, and the audit stuff and there seemed to be very positive vibes. Maybe we were just lucky but at times it was almost as if the shares were saying, "Go on, sell us, and see how you feel afterwards"

We shall see, and good luck to all who are also on this ride. As another said on here, who knows what will happen on Monday, they could go to 1.90/2.00 if the news of the sale is formally reported, equally they could drop back 10, 20, or even 30 points because everyone takes profits and the jitters take effect, quite a few tips/brokers still rate the shares as way over value, mind you most of these thought that 95p would see the share lock out, bet they are feeling a bit sheepish tonight !!

RBS and LLoyds next !!!!!!

[boxster9]

I think I'll put a stop loss order on mine at 1.72 and keep an eye on the price when the market opens on Monday morning. Your strategy of staggerring the sales makes sense, I think I 'll adopt a similar approach, thanks for the advice

[Racing Rod]

boxster9 said:

I think I'll put a stop loss order on mine at 1.72 and keep an eye on the price when the market opens on Monday morning. Your strategy of staggerring the sales makes sense, I think I 'll adopt a similar approach, thanks for the advice

I'm no expert by a fair margin, so take my views with a large pinch of salt, but it's worked so far for me, hope it does for you.

I'm keeping a eye on Cattle shares, they are more likely to go tits up then anything else, but if they come through, that could be another interesting ride at under 4p per share when they were up near £2 last year, quite dangerous stock so will wait for some interesting movement and go in light to start with.

Did you see that the volume on Barclays shares today was just under 200 million, and someone bought 18m shares at 1.73 late this afternoon, now that's brave !!! or !!

[Fittster]

What I don't understand is why anyone is surprised the FSA said things were find.

If the government agency the FSA said that Barclays were screwed, then Barclays goes pop unless the taxpayer steps in. So is the FSA really going to give independent advice about the health of Barclays?

[boxster9]

Racing Rod said:

boxster9 said:

Did you see that the volume on Barclays shares today was just under 200 million, and someone bought 18m shares at 1.73 late this afternoon, now that's brave !!! or !!

Somebody knows something we don't !

[NoelWatson]

Fittster said:

What I don't understand is why anyone is surprised the FSA said things were find.

If the government agency the FSA said that Barclays were screwed, then Barclays goes pop unless the taxpayer steps in. So is the FSA really going to give independent advice about the health of Barclays?

I'm not so sure that the Gunment wouldn't want a pertial stake in Barclays.

[Flipatron]

I bought 1515 shares @ 66p and would like to put a stop order on at £1.70 for Monday mornings trading. I use the Barclays shares service and can find the option to sell when the price climbs to a certain level but no option to sell if it drops to a certain level?

Also, what happens if a place a stop order but the share price opens below my £1.70 stop?

Edited by Flipatron on Saturday 28th March 20:05

[boxster9]

Flipatron said:

I bought 1515 shares @ 66p and would like to put a stop order on at £1.70 for Monday mornings trading. I use the Barclays shares service and can find the option to sell when the price climbs to a certain level but no option to sell if it drops to a certain level?

Also, what happens if a place a stop order but the share price opens below my £1.70 stop?

Edited by Flipatron on Saturday 28th March 20:05

can a share price open below the £1.70 stop, if the closing price on the previous days trading was £1.72...Can this happen?

[Racing Rod]

Flipatron said:

I bought 1515 shares @ 66p and would like to put a stop order on at £1.70 for Monday mornings trading. I use the Barclays shares service and can find the option to sell when the price climbs to a certain level but no option to sell if it drops to a certain level?

Also, what happens if a place a stop order but the share price opens below my £1.70 stop?

Edited by Flipatron on Saturday 28th March 20:05

Good point, must admit that I'm not sure what happens if the price is much lower, I cover the position by filling in the "limit " section so that they don't sell below a certain price. I've placed 5000 on stop "sell" @ 1.72 with a limit figure @ 1.70, i.e if they fall below 1.72 but not beyond 1.70, then my deal goes through between those two figures, if it drops under 1.70, the sale dosen't happen, that way I live to fight another day with the hope that they will again go back up. I suppose that if they open 10p lower then nothing happens sale wise.

I think I'm right in saying that if you go to the "deal" section, you will find the "stop" section, click on that,and the "sell" option and the screen will take you to the stop/limit price page, you then fill in the blanks, always push the "show me" button to check that the figures you have entered reflect the price you want, made a mistake once and put the decimal point in the wrong place, but after pressing the "show me" button, I realised I was placing an order at 15p as opposed to 1.50p. Mind you, it was late at night a a few years ago, and I had drunk my way throught several pints, a bottle of wine and half a bottle of vintage Port, so not really suprising really.

[ShadownINja]

It's called slippage. Unless you have a guaranteed stoploss via a spread betting co such as IG Index, you'll take the extra hit when you get stopped out. This is what g4ry mentioned before about trading over the weekend. You get adverse news on Sunday, the market gaps down severely and you pay for it.

Edited by ShadownINja on Saturday 28th March 23:24