Member Info for BIGBangs

Good post M - thank you.

Like you Franky I have a small position in SHG because I think they are well run and the reserves are good. I feel battered by GoT so will not be increasing my position, the only reason we got through this was because we had deep pockets and the ‘backing’ of Barrick, SHG are tiny in comparison and could not face any more grief than they have already have.

I agree Poker, never wise to bet against Odey but in all honesty his character and motives are no better or worse than anyone else in the city, whatever hat they happen to wear, he is just better at his job than most. He will go long, maybe not today but it will happen as he will appreciate that is where the profit is.

This is a tactic often used by shorters, they do a high number of AT low value trades which influence the algorithm and reduce the price at little cost allowing more substantial trades to benefit.

The shorters will do their thing this morning that is their job. I will obviously be interested in what happens once the US opens and I would very much like to see a raft of Directors buying at this level now they are out of closed period. I feel the bank is worth more - they made an unfortunate and stupid mistake with their accounting but they are not going bust - if the market doubts their continued competence then a bid will come in otherwise this has been a text book situation for the shorters to exploit to the max and they have not let themselves down. They will also know when it is time to go long and at these prices I believe that they will act very soon to do just that but hey, what do I know.

Following the results RBC review their rating.

RBC CUTS METRO BANK PRICE TARGET TO 710 (740) PENCE - 'SECTOR PERFORM'

Well we cannot say we were not warned that this drop would happen this morning although I admit that I was still a little shocked. I obviously hope that Odey and his shorting friends will exit stage left now and give MTRO the opportunity to move forward. I will definitely not be predicting a SP for a little while as I am still coming to terms with the one showing today, in the meantime I have doubled my holding and will just watch and wait.GLA

Well massive kick in the guts with MTRO this morning - you are probably right have given it a miss hasiba. I have doubled up of course although I am beginning to think that I must like the pain!

Hi P, hope you are still in INDV - your average should be pretty good - we all missed the 20p mark but the risk that things could go wrong we’re much higher then than now. I am just bemused by FRES. I have a position and will probably add but it just defies logic and keeps falling - I am beginning to believe in conspiracy theories with that one - watching and waiting for now. ATB

Brilliant DT, I hope you are right I would like to double up.

Hi Monk, I think the figure reported are the actual shorts in the market not the number they have borrowed but I had actually never thought about it before. Shorters will often hold some of the stock they have borrowed as an hedge against their position or to use as ammunition later. I agree that they are often trying to exploit weak holders or those who have put stop losses in place - you will often see low blips which will catch people out.

Hi Cud, I have seen Odey go from short to long on other stocks and the fact that he increased his short just before the results is no big surprise - he helped to push the price down, it will be the next notification (I think they take 2/3 days to register on short tracker) that will be more interesting. As investors we have to make our own call, I will be very happy if the share is hammered tomorrow as I will add but I doubt that I will get the chance. A wise man once said, you have bought your ticket now hold tight for the ride!

Pat - Your average on Metro is better than mine. Don’t worry about the odd 10p with INDV if it comes good you will be pleased you invested and not bothered that you could have made a little more - their price can wobble during the day so pick your moment.

Pat - I will not make any comment as to your selling ACA - your money your call. As for Metro I have posted on site this evening, I believe the worst is over possibility of a tree shake but trend must be up, buy on any dips. I am doing well with a INDV - in my own view they are now best opportunity in the market - I hope their US case will be settled soon and at much less than they have provided for - their cash balance is double their market cap - my own target in £1-£2 - DYOR but I would love you to join me in either or both. ATB

Some amusing and even occasionally interesting posts this evening. Anyone that has been following this share will realise that the results were much better than we probably anticipated and reflect better value than the SP would seem to suggest. Add to that the sale of £521 non core loan book at or about book value and the fact that VH has accepted the need for a replacement and what you end up with is an opportunity. I fully accept that the market may have a tree shake tomorrow and I encourage them to do so as I will be buying others can do what they like but this is now oversold and in my opinion it will likely double in 6 months or less. ATB

Still profitable, £521 m loan book sale at profit, independent Chairman to be appointed - everything we asked for. If the market works as it should SP should rise from here.

Thanks Tiger, I agree that with the political climate as it is gold should continue it’s rise, silver is more difficult as it’s industrial use works against it during trade wars but is doing well and I agree that the price is likely to rise again eventually which is why I am here. Whilst investing always includes risk and long term I am confident in this sector no one wants to buy at a price that is too high a week later. I accept that it is rare to catch the bottom but I struggle to find reasons for such a fall with the news that is currently in the market. I am fortunate that I can buy and hold without being unduly concerned about how long it takes to come good but at the moment the longer I wait the cheaper it becomes which goes against my instinct and indeed temperament. I want to add but the market tells me to wait, hopefully something will happen that forces me to act.

This has become another share that I am struggling to understand. The trading update wasn’t great but far from terrible. The broker downgrades that I normally take with a pinch of salt seem to have been correct. Gold holding firm or rising, silver showing signs of a break out but the SP keeps falling. I confidently bought in after the big fall but have watched as the market continues to push the price down. Are players behind the scenes trying to buy in and moving the market to get a better price or is there something in the background as yet unknown to us, which could only be some anticipated political crack down which is causing the damage? I am unlikely to sell but do I hold through the storm until the truth is out or do I add at these levels which only a few weeks ago and following the strength of gold and silver, seem like a bargain?

Well that will make things interesting.

Personally I think the news that INDV have asked for the case to be thrown out is enough to justify this rise - the fact that they have also suggested ‘prejudice’ ups the anti considerably. If, as we believe, the DOJ’s case is weak or built upon misinformation given to the grand jury then either the DOJ will back off quietly or they will seek a very quick face saving settlement - again for INDV to let them off the hook this will be low 10’s of million - this is still a lot of money but nothing like the amounts that have previously been suggested. GLA