Friday, 29 July 2016

Last Trade for July?: LYG

I said I was in holding pattern,then suddenly on Thursday Lloyds' share price crashed. Could be linked to its announcement that its closing branches. One would have thought that cutting costs by closing unprofitable branches (you don't close profitable branches to cut costs) would have been factored into the share price. So much for the EMH (efficient market hypothesis), at least for the very short term.

Anyway, bought more LYG on Thursday at $2.81 (lower than the previous selling prices of $2.83/$2.87/$3.02 [I sold too early since it peaked at $3.10])  and today its back up to $2.87. The day is not over - it could crash again so I may need to update this post. But may I need to hold LYG longer and say $3 no sell.

But anyway, here's to the end of July and the beginning of SCB minimum $10 commissions. I failed to sell my Soilbuild REIT so its stuck in SCB. I'll just have to collect dividends from the holding until I decide to go for priority banking (no minimum commission for priority banking).

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