Diary of a Dumb Investor: I’m making a killing on Standard Chartered

I'm with you - picking up shares at 11.22 and then some more at 11.31 (share price not time). So I hope we have been brave rather than stupid, When a blue chip drops by this much you have to hold your nose and take the plunge.

Anyway - so far so good

Well done dumb investor. There has been a huge overreaction which you would expect to happen when bad news hits a bank these days. Good opportunity to invest in one of the top banks.

You must be crazy! Next week they'll drop like a stone.

I couldn't quite believe this when I saw it but it's TRUE!

I bough mine for £11.25 less than 2 hours ago and they are now up to £12.27.

Maybe Warren Buffett is right - "be greedy when others are afraid"

You have a target in mind, or are you in for the long haul?

I'm in on a SB - at around 11.30 - will take the divi tomorrow, and targeting a 20% bounce - so 13.50 or so

I also bought today. Although not being home all day and relying on my Ipad I got them at 11.87. However, I did buy 900 of them.

My Danish bank advised against, which is usually a good buy signal!!

I hope you are right because "me too"

Self Praise Stinks........dance while the music plays - one of those rewarding days DI.

Excellent stuff but ALL banks are dangerous at the moment.

Could be more downside but at least you aren't buying on fundamentals..

"Falling knife" and all that?? The Americans are out to get our banks??

Folks you should be ok. Shares being dumped by institutions that are required to do so, but market is narrow due to the big stake by Temasek. So, just bide your time - the US issue is an old one - and looks very agenda oriented. It's also an old topic - at what stage is a line drawn over US demands to know absolutely everything. But equally, dont expect all to be squeaky clean. When you go looking for trouble, you will find some.

Knee jerking all round. Any proper investors out there ?

I'm reminded of an article from 11 or so years ago.

The title was something like "I’m making a killing on Railtrack"

I ADVISE ALL TO WAIT AND SEE . SCB have denied it all ( as far as I can see) and either they should sue the US Authorities for whatever it takes on behalf of their shareholders ( was it an US loud mouth who spoke out of turn- they do tend to do this !?) or is it true? Whatever, investors are left guessing and I'd like SCB to tell us more.I have been an investor for years and in my case a 25% fall still leaves me in good profit, My gut reaction is to buy more but with such a volatile market I'm sitting on my hands awaiting more information.

U have not seen anything yet more to comedown t'morrow.

Ah well, it is alright for these rich investors with loads of cash to trade and speculate.

Easy come, easy go. I suppose the few successful trades have encouraged a degree of recklessness. You may win, but it will lead to bigger losses when others go wrong, because of confidence instilled from the odd success. Tread carefully.

Loving all the comments and think this difference of opinion is what makes the stock market more than just a place to invest, I wonder if the negative comments come from people that are a bit sore that they haven't made a large gain today like those of us that we're brave enough did. Big blue chips rarely give investors the chance to buy at such a discount and buying Barclays and bp after sell off's recently has been very profitable, as is stand chart so far where my stop is above my entry level. I think it is fine to have a long term buy and hold account and another dealing account to take advantage of these short term fluctuations. Good luck to the brave!

Buying SCB ? You can get the same kick out of betting on the beaten favourite in its next dog race at Oxford dog track.

dpedlar, perhaps, but even if I had the money this would be one of those mad money punts.

I suppose the words spoken by the authority are sabre rattling, no, far more than that, the sabre is drawn and the subject is being threateningly menaced, particularly as SCB drew the attention of the authority to the defaults. I would tend to believe SCB, and sue the authority for damages. If they pulled the licence, then SCB would fold, wit a possible catastrophic effect in the Far East in terms of a loss of a major player which, if they did it would have very serious knock on effects to trade in that region. It could even be criminal, menacing statements to cow a body into accepting an unjust penalty, as the court of appeal said some years ago, obiter, that this could be construed as blackmail, albeit APPARENTLY lawful.

There is investment and there is speculation..... bronco..... am sure you will have more success on the horses or dogs....

Do I detect just a teensy weensy hint of sour grapes from those who missed out on yesterday's fall in the share price?

For the record, I am not a short term trader and did hold SCB in my portfolio before - as a means of gaining access to developing economies outside Europe and the US. So overall, I am still down because of yesterday's events but this opportunity has helped soften the blow and my view of SCB's long term prospects remains unchanged.

And thanks Crap Trader, I hadn't realised that the shares go ev-div today so that is another nice little earner.

Oh, how I LOVE my "divvi" - CEOs please note!

I sold the 900 shares i bought yesterday. Made 10 percent profit + dividend. Sometimes you are allowed to be lucky.

Fools step in where angels fear to tread?

Well done Spotdog, I have unloaded two thirds of my purchase from yesterday, I am trying to hold the last third but as the gain is impressive it is a struggle. I hope people don't take away credit from us by saying it was a gamble, it is just part of a much wider strategy that includes longer term buy and hold plus shorter term efforts based on fundamental's, technical's and scooping up big blue chips that drop 20% + in a day

"Do I detect just a teensy weensy hint of sour grapes from those who missed out on yesterday's fall in the share price?"

Not from me: I honesty believe there are far better places to invest ones' hard earned £.

On the way back to £15?

"Do I detect just a teensy weensy hint of sour grapes from those who missed out on yesterday's fall in the share price?"

No-one 'missed out', they just chose not to gamble. Could have gone either way today, and tomorrow and the day after.....................

Got to go to 1800!

Ever heard of a bird in the hand; take the profit and return when there is more certainty about the future.

There's never any certainty about the future! Ask Standard Chartered shareholders a few weeks ago..