Exactly, it needs the market to recover first ie get out of bear phase. I did not say called off permanently. It is actually better value to buy them now than wait for the b/e point even with the discount. But at the moment all banks look a very bad buy indeed. Much better fish to fry elsewhere.
A bear market is defined as one where the index is 20% down from the peak and a correction 10% down. It is not decided by anyone it just is. The average lasts 15 months with a total decline of 32%. At the moment we are in an upward correction in a bear market. No one knows what will happen. If we did we would all be millionaires
RE: BruceJamison: Is this the view held by most experts including the UKFI? How long is this likely to last? Months? Years? If this view is shared by HMG wouldt it not be prudent to call off the SID sale. Mr GO appeaed to imply that the SID sale would go ahead when calm returns to the market. IMHO calm returning and markets remaining bearish are two different things. GL
Boring week on the economic data front. Chinese playing happy families and blowing themselves up with fireworks. In the UK, good kite flying weather if you're into that sort of thing. On the Lloyds front wouldn't be surprised to see the SP climb a little towards results, a trade for the brave, as the bears are still growling.
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