Bye-bye Barclays

[TimberWolf]

54.9, down 25% this morning.

Oh dear! Couldn't happen to a nicer bunch of people

Looks worth a punt now

[Solidec]

Barclays was only ever worth shorting as of Friday morning, I wouldnt buy their stock just yet. If t'gubberment get anywhere near Barclays, watch their shares tumble further.

[DimPrawn]

54.9, down 25% this morning.

Oh dear! Couldn't happen to a nicer bunch of people

I told you techies should not dabble in financial markets. Logic is the last thing that applies, especially with Brown's Depression in full swing.

I hope sasguru lost his pocket money and now will have to for-go his curly-wurly at tea time.

[Bagpuss]

Hey! I was up £160 at one point yesterday, but thanks to a tele interview I couldn't cash in. Nevermind they are due a bounce, the market capitalization is less than the profit they announced

[ace00]

Hey! I was up £160 at one point yesterday, but thanks to a tele interview I couldn't cash in. Nevermind they are due a bounce, the market capitalization is less than the profit they announced

They seem to have flat-lined at 58 & change.
Pre-market for US is up so expect the sheep in London to follow this aft.

[TykeMerc]

I nearly bought in at 70, based on today I'm quite glad that I dithered.

[BlasterBates]

...don't as the pound devalues so the foreign debt grows.

Buy a gold mine or something. Check out Yamana.

[Bagpuss]

Allways hard to call the bottom. It's basically a gamble on the death of the UK economy. There is little sense in further falls apart from the actions of shorters. One wonders what they will short when there is nothing left?

[TykeMerc]

Allways hard to call the bottom. It's basically a gamble on the death of the UK economy. There is little sense in further falls apart from the actions of shorters. One wonders what they will short when there is nothing left?

Themselves

I still feel that Barclays are undervalued though and I'm contemplating risking a few £K on them.

[Cyberman]

I have yet to see 1 solid reason for the 50% + decline in the last week, except for short selling and rumors.

I will be joining Cybertory in court at this rate (I own Barclay equity).

It was rumours instigated by HMG that caused the run on the Rock. Since then we have seen that many other banks are actually worse run than the Rock, which has actually paid off the majority of its loans and has little toxic debt. I don't see other banks paying off loans!!!!

Barclays apparently need more funds(10 Billion estimated) even after going to the Arabs and who can say how much they will need after that !! It is HMG strategy to nationalise the banks by stealth by not giving loans but instead take equity, and thus they now own 70% of RBS. I do not trust HMG and neither should shareholders, and this in itself explains the drop. Who would want to own bank shares when in a few months HMG could own the whole thing without paying any compensation ? My advice would be to sell, and quickly.

My main worry is for pension funds that obviously would have billions invested in banks. I just hope that most have sold already, because in due course their holdings will be worthless !!!