Member Info for Barrieprov

I’m only cutting my exposure to balance risk and potential reward but am always reluctant to realise losses - the shares appear to have steadied at this level but have fallen £2 from the level some sold so I’m biting my lip I didn’t and went back in at these levels but that’s the way hindsight works!!

So difficult but PFG just went below my stop loss of £3 so I’m cutting the position

GLA and can’t believe the shares are £2 below recent peak

Amigo down similar percentage and appears to have become a pariah following recent ****ging off on social media by founder James Benamor so tend to agree that PFG appears undeserving but huge blocks of share sales must be leaving an overhang of stock IMHO this Covid-19 and Fitch downgrade seems to be weighing on sentiment

Saw large sales trades go through in blocks yesterday

Many more than 5m sold

Do algorithms sell off downgraded stock I wonder ?

Either way £6 would be nice if only I had the cohones to buy more at £3.20

I may cut if price goes below £3 but everyone’s situation is different in terms of appetite for risk and financial cushion plus I’m not a large holder

I’m wondering if the price reflects uncertainty over impairments as the downgrade only marginally affects cost of servicing revolving debt facility

My average is better at c £4.50 but I’m heavily out of the money on RDSB at an average price of £17 due to collapse of oil price so daren’t risk buying more PFG preferring to gamble on recovery in energy sector which could be rapid and meanwhile taking a quarterly dividend to reduce my average cost

No volume but huge selling late yesterday maybe to blame.

Anybody know what’s happening beyond downgrade?

Guess we need to be checking for RNS disclosures after huge blocks of shares sold late in day - don’t see that volume of shares traded in this stock never mind current market conditions

Not sure if linked to Fitch downgrade but additional interest cost only £4m pa doesn’t seem excessive

Am I missing something?

Maybe we shall see similar size blocks of shares bought later??

https://uk.advfn.com/stock-market/london/provident-financial-PFG/share-news/Provident-Financial-PLC-Fitch-credit-rating/81956950

Or how low can you go?

I’m aware there’s been a lot of dirty linen being washed but am wondering if there are concerns that account for PFG share weakness in relation to the spread of Covid-19 maybe around impairments or reduced volume of new business? I’m holding but not rushing to add though am making no recommendations. I’m getting my excitement elsewhere by buying RDSB at 1293 a price I doubt has been seen for almost a decade

Indeed

Glad I got in at 1293 but despite 1427 as I write I’m holding up to 1800 however long it takes to reach or pushing my luck 2000 but don’t expect the dizzy heights of last spring as think despite production cuts and stimulus oil recovery will be slow and capped at pre crash levels. Don’t know why I say this it’s just gut feeling but I respect the opinions of others who are no doubt vastly more qualified and intellectually superior that are very bearish on this stock

Tried to buy at 1250 but kept getting thrown out
Eventually got in at 1293 but think it could go lower so held back some cash in case it tests £10!and taking 12m view

DYOR but I read oil is likely to fall by $10 / barrel at opening so maybe a hell of a ride tomorrow

Good luck with opec deal with Russia not finalised I see shares hit £16 at close which is my current buy level but I was shopping noting that despite government assurance the shelves at local Tesco were stripped bare

Seems to have been an indiscretion on social media last night about its sale process that knocked the price which shows the importance of being careful about posts. Banks seem nervous generally which I guess is due to Coronavirus

Thanks I note the point about impairment risk intensifying if Coronavirus becomes a big issue but unless the world as we know it comes to an end I agree there will still be a requirement for legit sub prime lenders

Couple of 520,000 sale trades an hour ago

Price holding up while Street gyrates

Interesting day

I know there’s a risk it’s a dead cat bounce but sometimes in pursuit of the long game I miss the opportunity having sold some at 429 to have bought at 387 and they’re 417 currently

So frustrating but in the real world people are getting sick so I’ll shut it and wish everybody good luck while we live with the uncertainty

Still believe this is a good company and am holding but everyone’s circumstances are different so DYOR as usual

Reluctantly accept you maybe right but I’ll have to hold and hope

I think caution is advised as Covid-19 might deliver a few wee shocks yet buttgen again it’s true that we seem to have a media that bounces between panic and indifference ie 3,000 deaths globally is probably far less than the daily toll in African villages and cases ”soar in U.K.” means a low double figure increase in cases

Long term view is only option but who knows where the bottom will be