Reply to: Barclays shares suspended. Dropped 9% this morning

[ChimpMaster]

Bagpuss: Not yet, I want to, hence the "sub-50p" comment as I believe they are due a retracement before the next leg up.

[rootsnall]

Isn't that what I've been doing?

OK, to summarise:-
Sell property
Sell financial stocks
Buy Commodities (e.g. gold, silver, platinum, cotton, any foodstuffs).
Buy stocks of small miners and explorers
Buy shares in Corac (ticker: CRA) at sub-50p if possible.

Buy into Financial stocks once the credit "crisis" has played out early next year.

All my own opinion etc I am not an expert etc etc

Much easier, if you think there is a recession coming then sell everything and don't buy anything.

[Bagpuss]

Isn't that what I've been doing?

OK, to summarise:-
Sell property
Sell financial stocks
Buy Commodities (e.g. gold, silver, platinum, cotton, any foodstuffs).
Buy stocks of small miners and explorers
Buy shares in Corac (ticker: CRA) at sub-50p if possible.

Buy into Financial stocks once the credit "crisis" has played out early next year.

All my own opinion etc I am not an expert etc etc

Do you own shares in Corac?

[ChimpMaster]

Tazman, you should write a financial tips article on this very site

Isn't that what I've been doing?

OK, to summarise:-
Sell property
Sell financial stocks
Buy Commodities (e.g. gold, silver, platinum, cotton, any foodstuffs).
Buy stocks of small miners and explorers
Buy shares in Corac (ticker: CRA) at sub-50p if possible.

Buy into Financial stocks once the credit "crisis" has played out early next year.

All my own opinion etc I am not an expert etc etc

[AtW]

Literally or figuratively ?

It depends on whether you lost your investments or you actually owe a lot of money to someone else who will send big debt collectors around to collect the debt

[Board Game Geek]

Literally or figuratively ?

[AtW]

There are some bright sparks who work at these top banks

If they are anything like sasguru then we are all screwed

[Bagpuss]

There are some bright sparks who work at these top banks, there's no way they would have been lending irresponsibly. Boomed!

[Board Game Geek]

Oh dear, this is terrible.

I mean, that's got to be at least one bottle of Cristal less at the AGM, surely ?

[DaveB]

FT has the story atm

"Rumours swept the market mid-morning that Barclays could be exposed to a further £10bn of subprime exposure, sending its shares down 5.8 per cent to 455¼p.

“There is some talk doing the rounds that Barclays have suffered big losses in the credit market crisis, with figures of £10 billion worth of write-downs being whispered,” said Martin Slaney, head of spread betting at GFT Global Markets.

"If that were true we could expect at least 15 per cent of Barclays’ value to be wiped off."

[sasguru]

Yes it is all very technical - they are going bust or something... PANIC!

Time to buy

[Bagpuss]

Tazman, you should write a financial tips article on this very site

[ChimpMaster]

No it wasn't just a tech glitch. I was monitoring real time prices at the time.

The price actually hit 442, down 9.1% when trading was halted. There was no news about this. I think trading opened again about 15 minutes later. It's going back up now.

I was looked at taking a long position on a covered warrant but it's typical of Societe Generale to halt all trading on these when there is the possibility of anyone making any money from them.

[Bagpuss]

Sub prime, PANIC!

[AtW]

Yes just checked. Looks like a tech glitch - I hope!!

Yes it is all very technical - they are going bust or something... PANIC!