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kingrav,
Genuinely sorry for your loss. Glad to hear that you applied your stop loss to preserve 95% of your capital... which has to be a positive? As you are aware my stop loss is 10% which I will leave in play for next week then reassess my simple strategy thereafter.
I personally feel that the drop was a little overcooked. The FTSE 100 only fell 0.71% but Barclays fell 3.10%. However, it is pointless trying to fight the market... only one winner there.
I understand the possible shadows that overhang this stock:
a) The Circuit Breaker COVID-19 possible actions in October 2020.
b) Negative Interest Rates possible introductions in Nov 2020
c) Brexit European Trade Agreement Concerns possible to not being agreed in Dec 2020.
But the key word for all three is possible. Ultimately, these three issues are not unique to Barclays.
Next week will prove to be very interesting for this stock to see if there is any bounce back over the £1.00 level or the three day downward trend continues?
Any bets as to where the stock finishes next Friday 26th September?
All IMHO please MYOC.
Good Luck All.
MrAlt
All your news timelines are too far in the future.
Enough time for Barclays to hit the 70s.
I had a 5% stop loss set, as you rightly mentioned the 100 barrier had been breached, and 94p rebound is but wishful thinking. All the profits i made a week ago are gone, plus a few more hundred!
I was looking to make a 5%+ short term return on my latest purchase which currently looks unlikely. I have 10% stop loss on my latest purchase at 102.94 set at 92.65. Meaning (unless I cancel it) I will have to take a hit on the chin. Whilst I was looking to avoid holding stock in October, unless my stop loss is activated I do actually see some positives not too far away:
1. Friday 23rd October is Q3 Results day. I believe that the USA Equities and Markets Business will report another excellent quarter that should return a good chunk of profits to carry the UK side. Unlike Nat West and Lloyds who are pretty much all UK based, this differentiation, I hope, should count.
2. Trump is desperate to facilitate the launch of any USA company Covid Vaccine to convince the voters that he managed to find an answer and therefore deserves to be back in power prior to the elections on Tuesday 3rd November 2020.
3. The pantomime of the European Trade Agreement I believe will be resolved in the near term. Whether it is a series of mini deals or one deal in isolation remains to be seen. The smoke and mirrors of who blinks first remains as a deterrent to prevent other EUSSR thinking about following the UK lead.
Just wish the Q3 results would arrive sooner?
All IMHO please MYOC.
Good Luck All.
Where next for FTSE & banking sector?
FTSE for Friday and the banks (maybe important!)
When we last reviewed the Banks Index, we provided an argument favouring 1,896 as ‘bottom’.
It hit this level yesterday, and has rebounded a bit. Unfortunately (as always) we have a couple of concerns worth mentioning before anyone goes 'all out' on one of the retail banks.
Where next for NatWest and the banking sector?
On the day the Banks’ Index reversed and achieved our big picture drop target level, it also broke target quite marginally, hitting 1895.37 points before bouncing.
Normally we'd tend to shrug off a target level exceeded by 0.63 points, as it's minimal and probably a calibration error.
Alas, there's a great ‘however’ here which dare not be forgotten.
Both Barclays (LSE:BARC) and NatWest (LSE:NWG) managed to breach pretty important numbers, each share slithering below the crucial 100p level during Thursday’s trade.
While neither share closed the day below this psychological level, the message was sent of 100p no longer being sacrosanct for either banks’ share price. This created a situation where we shall not be surprised to witness further reversals on these two major components of the sector.
About the best we can hope is for the 94p level, curiously an identical possible bounce level for each bank, to be honoured in the days ahead.
If this share price level fails to provide a trampoline effect, it becomes pretty certain our 'post Covid-19 drop' computation of 1,730 shall provide the proper bounce level for the banking sector.
Confused? You should try writing this stuff!
https://www.ii.co.uk/analysis-commentary/where-next-ftse-banking-sector-ii513511?utm_source=campaign%20&utm_medium=email&utm_campaign=Afternoon_round_up_newsletter_180920&utm_content=campaign%20&spMailingID=10566590&spUserID=MzU1MTA2OTEwNzY0S0&spJobID=1591754365&spReportId=MTU5MTc1NDM2NQS2