Bank of Ireland shares

codrulz

PHG wrote: »

I have had Revolut for 6 years now, UB, BoI and KBC apps. The Revolut app is streets ahead of any of these. Revolut UK even offers loans. I can move money from Irish current account to my UK one via Revolut and will be the in 2 hours and cost nothing, which cannot be said for the Irish banks.

Have closed UB and in process of closing BoI account as they are poor online services and expensive and moved everything to KBC. If Revolut or N26 did a credit card and half decent savings account in Ireland KBC would be gone too!

That said, I do own BoI shares

have had revolut for the same period + N26 soon after.. Revolut isn't a replacement for the legacy banks in Ireland.. It's an add on with some good features, but for people who want mortgages (most people at some point) they need a proper bank account and history. It's also murky as to what, if any level of deposit protection customers of Revolut would have in the event of collapse of Revolut or Lloyds. In 5 years, if Revolut have a banking license in the Uk/Ireland & push heavily into the Loan market then they'll pose a real threat.Until then KBC as you said Is the only other competitor IMO.

Jim2007

PHG wrote: »

I have had Revolut for 6 years now, UB, BoI and KBC apps. The Revolut app is streets ahead of any of these. Revolut UK even offers loans. I can move money from Irish current account to my UK one via Revolut and will be the in 2 hours and cost nothing, which cannot be said for the Irish banks.

A no deal BREXIT means no passporting of financial services and if things turn out as bad as they expect the possible introduction of FX restrictions.

I'm old enough to remember the days when as an office junior one of us had to go the Central Bank at the beginning of each month to get approval for FX payments. Many a Dublin solicitor had a nice little earner every month making the applications to the Central Bank for country clients.... the good old days were not so good when you lived through them.

So we'll have to see how it turns out.

rugbyman

codrulz wrote: »

time to short again imo, tight stop, 1.90 target for now.

Looks like you got that right,Coldrulz

codrulz

rugbyman wrote: »

Looks like you got that right,Coldrulz

Yeah, I'm happy with how that played out - out now with a 40%ish return after a couple of days ( 20% margin * 8% shift in price).

bobbyy gee

it's a losing stock
https://simplywall.st/news/a-sliding-share-price-has-us-looking-at-bank-of-ireland-group-plcs-isebirg-p-e-ratio-2/

cute geoge

I have held tough now with 6 months watching them see saw I need to buy a couple of thousand to balance out the price of dear ones ,will they drop to $1.70

bobbyy gee

bobbyy gee wrote: »

it's a losing stock
https://simplywall.st/news/a-sliding-share-price-has-us-looking-at-bank-of-ireland-group-plcs-isebirg-p-e-ratio-2/

Not the worst article.

What is more concerning, imho, is that Natwest don't think there's a value to branch banking in the ROI (allegedly).

ChuckieEgg

Deleted User wrote: »

Not the worst article.

What is more concerning, imho, is that Natwest don't think there's a value to branch banking in the ROI (allegedly).

It's an A.I generated article, if folks are basing their investing decisions on that they are goosed. I think they need to look at the bigger picture, which is now Blackrock who are manipulating the share price to there own end.

cute geoge

This week why would Blackrock drive down price if they hold 7% they hardly are gamblng buying up more consider if they bought majority at higher price .I have no clue how these crowd work only trying to figure how low it will fall this time for myself to balance previous high priced purchase

ChuckieEgg

Blackrock hold over 9%, they didn't buy the majority at a higher price, in fact they have been the only buyer of boi over the last 6 months.
They'll push it as low as they can before scalpers and pirates start buying. Watching the trading bands over the last few months the trading range has moved upwards. I think once they get close to 14% there will be no holding the share price down as the city pirates will want onboard for the ride.
Who they are buying for its hard to say, I don't think its for themselves but I am only guessing
I'm tempted to pick up a few now, I might put a buy order in for €1.72 and see if it gets filled

cute geoge

I bought my few k there at 1.71 and am delighted it puffed up the price to 1.72 .Stockbroker said about 3 and half millon shares traded already today

ChuckieEgg

Me too, picked up 500 for 1.71
That's my lot now

Dinarius

I have volume at 550k, approx. However, other big trades may be announced after the close.

The price has now fallen below the 50 day EMA, and the EMA is flattening too and may turn down. Sentiment is very poor and Covid is only getting worse.

Personally, I wouldn't be buying with it like this, but I hope you make on your trade.

Good luck.

D.

ChuckieEgg

Yeah I now need €1.75 to break even. That's why i hate trying to trade Irish stocks, the stamp duty and fees are high so it means you need to be making a bigger return which takes longer

Unknownability

ChuckieEgg wrote: »

Blackrock hold over 9%, they didn't buy the majority at a higher price, in fact they have been the only buyer of boi over the last 6 months.
They'll push it as low as they can before scalpers and pirates start buying. Watching the trading bands over the last few months the trading range has moved upwards. I think once they get close to 14% there will be no holding the share price down as the city pirates will want onboard for the ride.
Who they are buying for its hard to say, I don't think its for themselves but I am only guessing
I'm tempted to pick up a few now, I might put a buy order in for €1.72 and see if it gets filled

That's not correct, Norges Bank have recently crossed the 4% threshold.

bcklschaps

ChuckieEgg wrote: »

Blackrock hold over 9%, they didn't buy the majority at a higher price, in fact they have been the only buyer of boi over the last 6 months.
They'll push it as low as they can before scalpers and pirates start buying. Watching the trading bands over the last few months the trading range has moved upwards. I think once they get close to 14% there will be no holding the share price down as the city pirates will want onboard for the ride.
Who they are buying for its hard to say, I don't think its for themselves but I am only guessing
I'm tempted to pick up a few now, I might put a buy order in for €1.72 and see if it gets filled

What's the significance of 14%?

At 10% you are obliged (or certainly have the option) of appointing a board member. Soo, that is usually a significant investment milestone.

Big drop this morning... €1.66 already.

PHG

bcklschaps wrote: »

What's the significance of 14%?

At 10% you are obliged (or certainly have the option) of appointing a board member. Soo, that is usually a significant investment milestone.

Big drop this morning... €1.66 already.

Drop likely due to the Financial Money Laundering news over weekend by HSBC, JPMORGAN et al., not BoI

Charlie 22

I took an opportunity to average down a bit to 1.77. The drop today seems to be general malaise in the banking sector as mentioned

codrulz

Charlie 22 wrote: »

I took an opportunity to average down a bit to 1.77. The drop today seems to be general malaise in the banking sector as mentioned

Both general deterioration in sentiment over the weekend + the money laundering news, double whammy !

DilD

Charlie 22 wrote: »

I took an opportunity to average down a bit to 1.77. The drop today seems to be general malaise in the banking sector as mentioned

Average down? Two words you never want to hear when speaking about investing. Why put good money after bad. What's your intended holding period?

Why is anyone buying this stock, it's 70% off it's 52 week high and almost 40% below 200 day MA!! Friday it closed at it's lows on a massive 320% above average volume, thtat's not your average guy selling here, that's big players unloading their positions.

I get that anything can happen but the odds are stacked against you here, this has the potential to go lower...

codrulz

DilD wrote: »

Average down? Two words you never want to hear when speaking about investing. Why put good money after bad. What's your intended holding period?

Why is anyone buying this stock, it's 70% off it's 52 week high and almost 40% below 200 day MA!! Friday it closed at it's lows on a massive 320% above average volume, thtat's not your average guy selling here, that's big players unloading their positions.

I get that anything can happen but the odds are stacked against you here, this has the potential to go lower...

Because this all points towards volatility, ideal for short-term stuff.

DilD

codrulz wrote: »

Because this all points towards volatility, ideal for short-term stuff.

If people are day trading (and know what they're doing) then yes the volatility is ideal, but from what I'm seeing on here people are looking for longer term holding, on a penny stock that is in a long term downtrend. I could be wrong but I'd imagine people here trying to make a quick buck are on margin too, not a good play in my opinion.

Whatever the stratedgy, averaging down on a declining stock is just bad for business. In the long term you may wait years just to get back to even if ever, in the short term it can wipe you out...

bcklschaps

Banks In Ireland are in a tough spot. Low interest rates means that they have little scope for any profit spread, payment breaks, stays on repossessions etc. hurting them too

As soon as the property market capitulates (only being kept afloat at the moment by Multi national employee wages)... Then the banks here are in real Schitts Creek.

Having said all that the two pillar banks are still profitable and their SP's are getting cheap.

At what price are they worth a nibble??

codrulz

DilD wrote: »

If people are day trading (and know what they're doing) then yes the volatility is ideal, but from what I'm seeing on here people are looking for longer term holding, on a penny stock that is in a long term downtrend. I could be wrong but I'd imagine people here trying to make a quick buck are on margin too, not a good play in my opinion.

Whatever the stratedgy, averaging down on a declining stock is just bad for business. In the long term you may wait years just to get back to even if ever, in the short term it can wipe you out...

Yeah, I agree. most certainly do seem to be buying with a long-term horizon.

I disagree, I think BOI is a great stock to trade on margin, its been pretty range bound for the last while which is ideal & never rallied over 2.1, a great SL if you're short.

You can look back through the thread, I have been pretty open about when and what trades I have been making (on margin) & see it's been very profitable over the last few months.

codrulz

bcklschaps wrote: »

Banks In Ireland are in a tough spot. Low interest rates means that they have little scope for any profit spread, payment breaks, stays on repossessions etc. hurting them too

As soon as the property market capitulates (only being kept afloat at the moment by Multi national employee wages)... Then the banks here are in real Schitts Creek.

Having said all that the two pillar banks are still profitable and their SP's are getting cheap.

At what price are they worth a nibble??

Anywhere below 1.40 I would think one is obliged to buy ?

DilD

codrulz wrote: »

Yeah, I agree. most certainly do seem to be buying with a long-term horizon.

I disagree, I think BOI is a great stock to trade on margin, its been pretty range bound for the last while which is ideal & never rallied over 2.1, a great SL if you're short.

You can look back through the thread, I have been pretty open about when and what trades I have been making (on margin) & see it's been very profitable over the last few months.

It's good that you have been making a profit here, just remember margin is a double edged sword. If you have great risk management and are disciplined in respecting it then you should be fine on margin, as long as you don't overleveraged to a point where a small move in the stock sends your account tumbling. I've seen so many people go all in on margin without understanding what it means, most people only think about the upside and not the downside.

Rangebound trading can work, just be ready for when the range breaks (as it always will) and be prepared to exit no matter what is my advice

If you are buying at the bottom of the range with the intent to sell at the top, that can work (for a while), I wouldn't keep buying the bottom if the price never makes it to the top of the range, but I see people constantly buying as the price declines no matter what, I think too many people do not have a real strategy here which is a recipe for disater.

EDIT: When I say going on margin is a bad idea, I mean for those who do not have any risk management rules in place, margin is a great tool once you know how to use it and have an exit strategy if you see a loss. For those with a buy and hold intent, margin is not a good idea!!

ChuckieEgg

Got dumped out of BOI today, hit the stop loss at €1.60.
Ah well you win some you loose some.................

Mad_maxx

i dumped my entire holding between 1.94 and 2.03 in the past few weeks having bought at 1.53 on average since march , something like shell in my view has more chance of doubling over the next five years from current levels , it certainly has a lot better chance of remaining around , bank of ireland just cant get above two euro for longer than a day

split proceeds of bank of ireland sale between tesla , facebook and shell , tesla has delivered over $2000 for me so far , went in big and took profits while reinvesting back in lower for a more balanced long term position, facebook a little in the red but im content to hold

bcklschaps

ChuckieEgg wrote: »

Got dumped out of BOI today, hit the stop loss at €1.60.
Ah well you win some you loose some.................

You were kinda unlucky there.... as it went down to about €1.595 and then recovered fairly strongly to €1.633.... still a bad day for BOI overall, of course.

I'm gonna sit on the sidelines and see if it goes back into the €1.50's and maybe have a pop then.

ChuckieEgg

It was purposely brought below the €1.60 as that was where a lot pf people had there stops set at. Either way I'm not bothered by this, one time it would have but now I never put on any trade or investment without knowing where to cut my loss and sticking to it. That way I get to cut the losers and keep the winning trades