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Quoth

Rbs

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Hi all,

Notice RBS has taken a bit of a pounding this morning (down circa 15%). Any opinions offered as to whether they are worth taking a punt on or is this the start of a protracted downturn?

Q

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I would personally avoid due to pessimistic RBS report covering in some way, 2 years. Lloyds is best bet imo, higly likely they will be improving during this next half if you are after a cheap bank.

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Hi all,

Notice RBS has taken a bit of a pounding this morning (down circa 15%). Any opinions offered as to whether they are worth taking a punt on or is this the start of a protracted downturn?

Q

RBS have consolidated in a bullish triangle just before the burst up in the last couple of days. Funnily enough that "almost" coincided with the end of the footsie uphill rocket climb. But then THE REPORT comes out and ground is lost, almost freefall. Just to show the magnitude, a friend of mine is spreadbetting on RBS (this is why I had a look, to see if I can see anything as a newbie) with a 0.1p change in price meaning 100$ for him (gain or loss).

The surge was almost a double top (bearish pattern) but the hype was so big that the price went through the resistance like a hot knife through butter.

Me personally, people will be too scared to fuel either a new surge, and as well a lot of them will hold the stocks with hope of recovery and thus further downturn cannot be fueled unless of course the bad news come rolling again.

All above is my personal opinion and as such does not constitute financial advise. Please, bear in mind that the market can make you or break you. never risk more than you are comfortable to loose.

That's why I started on a demo account :)

I am open to criticism as this will helpme learn even more, especially if techieman gets involved.

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