Ireland Bank, American Dep. Shares (IREBY)

[Gaintrader]

All the head traders called a "sell all financials now" around the globe... what are ya going to do when the lemmings are rushing to jump off a cliff, babies and all?

It seems the arbitrage percentage is influenced to widen with upward BKIR price moves, and contrarily IRE is slow to react, if it does at all when BKIR shares are pulling back. This all leads me to believe we won't be closing down near a 2% arbitrage again unless BKIR drops and stays under .23 for more than a week and IRE falls down to the !4.70 range. This also means when IRE gets to 20, the arbitrage should be around 12-15%.