Member Info for MrAltruistic

Is this the JP Morgan that Sajid Javid, the former resigned Chancellor of the Exchequer, now works for?

The same Sajid Javid who was a Brexiteer? More Conservative sabre rattling? More political shenanigans?

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.

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

What's the consensus on Barclays’ share price?

Barclays faces some serious headwinds as Bramson continues to agitate, Brexit concerns rise to the boil once again, interest rates teeter on the verge of turning negative and COVID-19 continues to weigh on the economy and society.

Analysts polled by the S&P Global Market Intelligence have a consensus accumulate rating for the stock with an average target of 142.68p for Barclays’ share price. According to MarketScreener, the consensus rating for the stock is outperform with an average target price of 142.91p.

Trefis is confident, however, forecasting that the bank will report annual revenues similar to those of 2019. This is based on the easing of lockdown restrictions and a growth in consumer demand boosting businesses.

Although the bank’s trading income might fall given calmer market conditions, Trefis believes it will still come in higher than a year ago.

“We believe that Barclays’ stock is currently undervalued and offers upside, given its strong retail and investment banking operations,” it said, according to Forbes.

https://www.cmcmarkets.com/en-gb/opto/how-much-longer-will-barclays-share-price-slump-last

This Months Analysts Views...

Among the analysts covering Barclays, there are currently:

5 Buy recommendations
7 Hold recommendations
0 Sell recommendations

https://www.stockopedia.com/articles/are-analysts-backing-shares-in-barclays-124958/

Despite Edward Bramson continually trying to canvas the Board to cease it’s USA Equities and Markets Business, this read indicates that it is unlikely to happen, short term at least.

The key paragraph for me is:
“ Last week, Barclays won Euromoney's award for the World's Best Bank for Markets, beating not only European rivals, but the 'big five' U.S. banks to the prize. Euromoney notes that Barclays' markets business tripled its profitability between 2017 and 2019 and that the first half leap in Barclays' markets revenues, at 68%, was greater than at any other bank. Euromoney says Barclays' is taking market share from rivals, particularly from Bank of America. In 2018, BofA's markets revenues were double Barclays'; last year the gap between the two banks was half that.”

https://news.efinancialcareers.com/uk-en/3004430/barclays-sales-and-trading-strategy

I’m not the most avid fan of the Motley Fool as they constantly claim to back both “heads and tails” I.e. both “Buy and Sell”. That way regardless of the result, they were always right...

That said, IMHO, a fair summary via the link provided.

Summary:

In the long run, the lender will remain one of the UK’s top financial institutions. When investor sentiment towards the business begins to improve, the stock could double from current levels. The potential reward seems to be worth the risk of further instability in the near term, in my opinion.

Therefore, I think it could be worth buying the Barclays share price today. The stock may face further volatility in the near term, but its current valuation and dividend potential, suggest it could produce large total returns for investors in the long run. 

https://www.fool.co.uk/investing/2020/09/13/stock-market-crash-what-im-doing-about-the-falling-barclays-share-price/

Hopefully, this should paste in a sensible format?

Self-explanatory High, Low’s, Volumes etc since the 1st September i.e. the last 9 trading days. Quite a low volume today by usual standards. However, £1.08+ as an intra-day appears on 5 separate occasions.

Date Open High Low Close* Adj. close** Volume
11 Sep 2020 104.98 104.98 102.60 102.62 102.62 21,325,557
10 Sep 2020 103.80 106.30 102.56 105.04 105.04 29,812,789
09 Sep 2020 103.02 104.88 102.36 104.88 104.88 43,584,298
08 Sep 2020 106.98 108.02 103.60 104.28 104.28 36,782,017
07 Sep 2020 107.60 108.70 106.26 106.94 106.94 14,729,583
04 Sep 2020 105.04 108.58 104.94 106.88 106.88 30,751,373
03 Sep 2020 104.26 108.30 103.95 105.56 105.56 29,996,389
02 Sep 2020 106.04 107.42 103.18 103.50 103.50 47,192,541
01 Sep 2020 110.42 111.16 105.86 105.90 105.90 60,998,790

dividendchaser, I have used my ISA allowance on the basis that I have already been lucky enough to make £12k net profit this year, meaning that i will only have £300 left of my CGT allowance of £12,300 for this tax year. Not particularly keen on paying on any CGT if I can help it.

On the basis that I have a slug of cash earning almost zero in a savings account, I transferred this into what was historically called my “self select isa” on the basis I can now churn it as many times as I like, with the rationale that if it returns future profit then I can sleep easy knowing that I do not have to declare anything via my self assessment tax return.

Does that answer your question?

Good Luck.

Lloyds Quarter 3 2020 Results to be announced Thursday 29th October 2020.I would not even like to wager a guess as to what the price will be on this date.Interesting times ahead?Good Luck All.

Barclays Quarter 3 2020 Results to be announced Friday 23rd October 2020.

Interesting times ahead?

Saurus,

I genuinely hope everyone can make some money with this stock. The market remains fickle at the moment so please tread with caution i.e. Daily swings from red to blue actively seen. I would suggest you set yourself a simple strategy and pretty much stick to it.

Good Luck!

Kingrav,

I’m NOT convinced that the UK will leave Europe without a deal and see this shadow overhanging a lot of stocks... another Pantomime for the Market Makers to make some serious returns.

I will see what comes out of the Financial Press over the weekend and then decide when to apply an automatic Sell Order to kick in. Still having to work 9 until 5, so I don’t want to miss the opportunity to make a reasonable return with capital if the price moves whilst tied up in meetings.

I will definitely be placing a Sell Order, just need to see if I can find what has happened to Intra Day Highs over the last 3 weeks and where they have averaged and peaked. Gut feel is that £1.08 is about right for my Sale to take place. Nice turn of almost £1k if that happens.

I would be more than happy to make £1k a week by “rinse and repeating” every Friday... I wish!

My views are all IMHO. Please MYOC.

Good Luck My Friend.

Used my maximum ISA Allowance, looking to short term trade these. Dow Jones Futures looking up this afternoon. More than happy to ride these out over the weekend and will be happy with a 5%+ Return short term.

Good Luck All.

...and this strain of Covid 19 has already mutated several times... yet the media fail to report this.

Kingrav,

For any one who has played the market and alleges they’ve never lost any money, then from my experience, they’ve never bought a single share.

I lost £20k in a share called Skyepharma many years ago, who kept promising “potential hope and success” and delivered “disappointment and failure”. I have avoided pharmaceutical businesses since, what I don’t know about phase three trials isn’t probably worth knowing. I’m sorry to say that with two good friends in the pharmaceutical business, their agreement is that this nonsense that a breakthrough for COVID 19 will be discovered in 2020 is purely to keep hope alive. The reality is that the common cold has not yet been cured, and this strain has already mutated several times... yet the media fail to report this.

What I have learned from my own personal experience that I have chalked up as part of life is:

a) Never chase your losses. Put them to one side and concentrate on trying to make future profit.
b) Set yourself a firm Sell Price when the shares rise and especially more so if they drop and you are staring at a loss. I wish I had sold with a 20% loss rather than hoping that things would improve and then losing 100%.
c) Make sure you fully understand the business you are buying into. If you are not sure... walk away. Opportunities knocks every week... what’s the rush?

I’m still sitting on cash and will buy when I am ready.

All IMHO... please MYOC.

Good Luck my Friend.

kingrav,

Don’t knock it... Three or four hundred quid for an approximate 7 day flutter... not to be sniffed at in my house. Would certainly pay for a weekend away in Stratford upon Avon.

I can’t remember the historical exact stats I had from Barclays Stockbrokers a.k.a. Barclays Smart Investor some Years ago. But it was something like 7 out of 10 clients lose money by self-selecting their own stocks.

Dow Jones went down this evening, again, by circa 2% with more tech sell-offs. 2 days in the trot it has declined.

Take Care and Good Luck.

kingrav,

As my Accountant often reminds me, "No such thing as a Bad Profit".

I hope you made a good turn?

This Brexit pantomime can only cast a shadow on the majority of UK Bank Sector short term, IMHO MYOC.

Good Luck

Place your bets...