Does anyone think today's U.S. driven rise LLOY be sustained or are we back to 1 step forward, 2 back tomorrow?

Little Woman

Have you recently used www.itpaysdividends.co.uk? I can not access it due to connection timing out every time.

Regards
Manoj

No, but I got saturdays file e-mailed to me today with Wednesdays closing prices instead of Fridays due to "temporary circumstances"!

The e-mail address is: itpaysdividends@itpaysdividends.co.uk!

morning hall

looks like lloyds starting to get back on track.

hopefully this is just start of things to come.

This share could be - the share of the year, among the big stuff anyway

I was playing with limit orders at 410 and 415. And then reset it at 415.1 as recommended by "little woman". The recommendation was not for the price, but for avoiding round numbers, which can become resistance levels. However, I kept missing the boat everytime.

I already got LLOYs
106 @ 539.79
100 @ 479.99
100 @ 442.79

Only managed to make one sale to date, which brought in a profit of 104.00. Now I am wondering whether to increase my limit order to 420.25 (for 100 shares) or just give up hoping that the price will rise, so I can lock some profits on the existing shares. Any comments?

Manoj

ranaweeram

Best not to worry about it too much - trading 100 shares at a time is expensive. Set yourself a target I always use 5% of my purchase price and stick to it which sometimes costs a little bit but I don't care because I got my target. e.g. This time with LLOY I bought to early at 434p so target is about 460p to include tax and costs - it may well go an awful lot higher (500p or so) but that to me is immaterial as said previously.

Aceuk

Recently I have been taking net profits of 25.00 a sale, when I can. Hardly worth the effort. But I am convinced I could make a decent return oneday. Earlier I was setting a target of 100.00 net profit. I do not spend more than 600.00 a trade, except 1000.00 when I bought HMV at its IPO. My broker is Hoodless Brennan who charges 7.00 per deal. I do not have much capital to play about which is really frustrating.

Manoj

ranaweeram

At 100 shares a go your doing alright at 25.00 net profit/sale.

The only further advice I can offer (which may or may not be useful) - I started sharedealing at the beginning of May and count myself lucky to have had 30k to start. With the duty and dealing costs I decided that single deals of 10k were the most economic way forward for me and that I would not venture lower than FTSE350 for security. After 4 months am about 40% up (the market overall since May is 10 - 15% up) sticking fairly rigidly to this and guidance posted above.

Further to that I can only wish you the best of luck.

AceUK

40% up wow!! 10k a deal. I would have personally considered that to be high risk. But it seems to have worked for you. That's what matters.

I got burnt out early with loosing all my capital with EGS (restructured, nothing given to shareholders), MONI (restructured, lost all most all), PMD (dropped heavily the day after I bought based on advice given by Investors Chronicle). Since then my first target was to break even. Now I am in the black with a very small net profit, but heavily down if compared against the same capital invested in a decent savings account. Also some of the old shares, especially LGEN, IPR, CNA are all down. One step at a time. Having achieved the first target, my current target is to make 20% p.a., i.e. by turning 25 net profit off 500 every 3 months for about 4,000 capital. Bit ambitious. Let's see...

Manoj

ranaweeram
Sorry haven't looked for ages (spend most of my time at advfn). Seems to me you're doing alright - know about MONI etc., other members of my family came unstuck there as well. My father is phlegmatic about it but it will take my brother a long time to recover his confidence. Personally it was a good lesson learnt at other's expense but I still expect it will happen to me at some point, at this stage just consider myself to be very lucky to be up on the back of a rising market.

Back to subject: Nice rise this week for LLOY and subject to Monday's presentation could see 6 quid shortly - if we match BARC I'll be very happy but at that point will have to look seriously at the possibilities of outperformance which has happened often in the past (upside & downside). At this point everything points to upside - Eric Daniels has basically replaced the board that made the costly decisions of the late '90s to get back to what he sees as the core business i.e. home market. There is also the 66% possibilty of announcement regarding Brazil sale which would bring in 520 millionish quid as well as being a good feather in the cap - we will see.

Warmest regards

Just noticed you mention IC - from what I am lead to believe elsewhere they are complete crap, beware.

Aceuk

Thanks for the advise. I have been a IC reader, or rather a subscriber for sometime. From time to time I question myself why I bother with IC, as I hardly get a chance to read it.

Cheers
Manoj