Lloyds

Hi SRB.

Above the next resistance at 60.86p. It's a bit wide but short stops should always be above the next resistance just as long stops should be below the next support.

Just a thought: wouldn't it make sense for the market to take its profit before it hits the govt's stated selling point? If I wanted to offload a profitable long I wouldn't wait for the govt to start pushing the price down first...

Amo wrote: of course, getting a little ahead of myself as usual

The government will start selling their stake at 61p so will interesting to see what impact that has if the price gets there in the near future.

If they are selling at that level then lloy will have no chance of breaking that level.
Just out of curiosity where did you here about this??? Ive heard that a few times now As it seems by giving a price at which they will sell means that everyone will be doing the same. Surely they would keep this quite as it kills any chance of a recovery. Seems like a bad idea disclosing selling levels

SirRichardBunson wrote: J, will be interesting to see how this develops, out of interest where are you placing your stop loss for that trade.

SRB

above the governments selling price....62

Yeah, it's crazy. It's basically an invitation to sell and short just below that level. It may not make 61p so they may not get to sell.

Having said that, just because they SAY they're going to sell at 61p doesn't mean they'll actually wait for that price. Since when did a government actually do what it said it was going to do?

(Dare I say "Not since Maggie!"?)

I read it in articles like this one referring to the CEO's bonus.

news.sky.com/story/1058568/lloyds-osborn...-taxpayer-stake-sale

But as Jackozy said it doesn't necessarily mean they will start selling at 61p. Who know what they will do. Better off just looking at the charts

Hi Jackozy, Did you go short on this in the end?