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Tuesday, 23 November 2010

The Irish problem

It has been very sad watching events unfold in Ireland,  when it is ordinary people who are picking up the tab for greedy, incompetent bamkers.I transferred some Euros to my TDWaterhouse account with the intention of topping up on Greencore shares. They are issuing a final dividend and the cutoff day is 3rd Dec. Just before I placed the order I thought about buying some Bank of Ireland sharesBKIR, as they had dropped from their spike to 50c. However, I stuck to my original plan and bought GNC. I was relieved this morning when I saw that BKIR shares had dropped from 37c yesterday to 34 after all the shenanigans that went on in Ireland last night.As I write they have now dropped to 33 and are likely to go lower. I feel the pain of the guys on the BB who are losing money like water flowing through your fingers.It seems that if you are shorting BKIR then you are  making money. I have never tried shorting, its contrary to my nature but it seems that is the only way to go for BKIR.

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