Argggh...

Both the shares are down another 10% from the price I bought... and it has only been 40 minutes... hope fully Gordon Brown will make a positive statement afte his 5 PM meeting with the Bank of England Governor Mervyn King, Chancellor Alistair Darling and the chairman of the Financial Services Authority, Lord Turner.

I have bought bank shares again

I know in the previous post I said I wouldn't buy any more shares because of my previous bad experience with Northern Rock. However, the possibility to make a killing seemed so irresitable yesterday when the London Stock Exchange FTSE reached the lowest in 24 years... surely it can't get any worse. So I decided to invest again.

Now the big question was which shares to invest. Both RBS and HBOS seemed to have lost enough value it seemed like a good investment. So I put a limit buy insturction for both the shares. But some reason the 'people didn't want to sell me shares at the price I was quoting', and nothing happened.

This morning as I expected the prices shooted up when greedy share traders tried to make some profit. But within 10 minutes or so the prices started to come down again. My greed started to grow again.

To cut long story short, I bought RBS shares for 98.5 pence and HBOS shares for 108.7 Pence a share which was both about 50% less than the price at which I would have bought it yesterday. So I am mighty pleased.

However both the shares went futher down so I am not as pleased as I was say 15 minutes before.

I will let you know when I make a killing out of this shares. Keeping my fingers crossed.