Yeah it's in free fall at the moment, got a short on the Dow which is covering some of the losses but your right, 8960-9000 is a pivot point, will add if it gets that low but I've got a feeling that it will bounce before then
PAKKA, I agree with loads of what you say, but I don't reckon that scrapping the final public offerings is the answer, because it still leaves the bank in government hands and, I venture to say, look where all that's gotten us after....how many years is it? I think the answer is , out of the blue, a sudden announcement that ALL the Treasury's remaining shares, the whole bl00dy bang-shoot, are up for grabs at one sale. So it might provoke an upward scramble with the price BEFORE the sale date reaching ninety, but, what the hell; it still means that the tax-payer gets a better return. I think we all know why this will NOT happen though, don't we? Too early before the election to be associated with a last minute government success in the voting public's mind. I'm not one generally for ratings agencies but, when just about every single agency, broker and tipster in the entire financial world has this share marked up as a Raging Bull, it's getting harder and harder not to believe that there's jiggery-pokery working its subtle magic somewhere behind the curtains.
Today we had 3 upbeat broker recommendation,yet the SP drops 1.25% Hopefully the next week will bring some upside to this battered Black Horse! I am convinced that the HMG should give up on the plan to sell this share to the public,
Why? 1 In the last 6 months or so the share price has been extremely volatile with more downside. 2. There will be a substantial cost involved in preparing for a public offer and that will have to borne by the Bank 3. The last multimillion sale to the city was priced at 75.5 p, today the Institutional investors are sitting on a substantial loss, form declining share price and the loss of interest. 4The next sale to the IIs if any will need some hard convincing and a hefty discount. 5. To my knowledge, HMG has never made a public offer of a financial product like a Bank or Insurance company 6 Financial Businesses are extremely vulnerable to stock market turbulence not just from problems within UK 7.There are serious allegations about the conduct of some staff with Mr Mark CARNEY implying that a possible criminal set of employees in the Bank. 8 BOE is at the heart of the financial system of UK, if BOE believes that all is not well with the running of LLOY, past or present, there is a definite need for a cleansing operation before the Bank share can be offered to the public. 9 Knowing that the last sale to the City was well discounted, there is a justified fear that any further sale by the HMG will be discounted,hence undermining the share value. 10 If the HMG comes out with the statement announcing that it will no longer be looking to sell LLOY to the public,one big uncertainty will be removed for this share. 11.Much has changed since the HMG announced its intention to sell shares to the public, the new reality needs to be considered before taking the plunge if at all. This is my humble opinion , would appreciate what others think GLA
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