• Australian (ASX) Stock Market Forum

Anyone buying banks yet?

Discussion in 'ASX Stock Chat' started by lukeamac, May 10, 2017.

Tags:
  1. lukeamac

    lukeamac

    Posts:
    13
    Likes Received:
    2
    Joined:
    May 8, 2017
    Newbie here so go easy on me if my line of thinking is flawed as this thread develops.

    Anyone looking at buying the banks yet? "Levy" to be passed on to consumers through fees so shouldn't hurt them too much should it? Guess the lending market has tightened up though so growth in that space will be tougher for them.

    Cheers Luke
     
  2. Quant

    Quant

    Posts:
    489
    Likes Received:
    134
    Joined:
    Dec 13, 2015
    I think banks got a ways to go before I be buying em , I'm just guessing at this stage , but my ' man ' will be sending me some figures later today , but id suggest an approx 3-5% hit to earnings
     
  3. lukeamac

    lukeamac

    Posts:
    13
    Likes Received:
    2
    Joined:
    May 8, 2017
    ANZ specifically down 12% in recent times, have to be finding some opportunity here soon surely?
     
  4. lukeamac

    lukeamac

    Posts:
    13
    Likes Received:
    2
    Joined:
    May 8, 2017
    Factored in by now though isn't it?
     
  5. Quant

    Quant

    Posts:
    489
    Likes Received:
    134
    Joined:
    Dec 13, 2015
    well buy away then , not sure how its factored myself given budget was only last night but carry on , you seem convinced ...
     
  6. lukeamac

    lukeamac

    Posts:
    13
    Likes Received:
    2
    Joined:
    May 8, 2017
    Relax, discussion is how we, mainly I learn. That levy was speculated yesterday before the budget though which was the reason there was big wipe off yesterday?
     
  7. Roller_1

    Roller_1

    Posts:
    205
    Likes Received:
    10
    Joined:
    Sep 13, 2013
    Agree that the big banks/ instos would have known about the levy in the budget. Probably why they sold off yesterday then all the retail guys had a panic sell this morning but seems to be bouncing back in the short term. Good for mean reversion guys like myself
     
    lukeamac likes this.
  8. lukeamac

    lukeamac

    Posts:
    13
    Likes Received:
    2
    Joined:
    May 8, 2017
    Thanks, appreciate some thinking behind the concept.
     
    Roller_1 likes this.
  9. Roller_1

    Roller_1

    Posts:
    205
    Likes Received:
    10
    Joined:
    Sep 13, 2013
    Some fundamental guys would be able to elaborate i'm sure
     
  10. skc

    skc Goldmember

    Posts:
    8,254
    Likes Received:
    265
    Joined:
    Aug 12, 2008
    After opening down 1.5-2%, banks are now well off their lows with ANZ, NAB and CBA close to flat (it's 11:40am). Regional banks are up 3-4%.

    Plan the trade, trade the plan. Closed ~2/3 of the positions now. It may or may not carry on this afternoon but the easier bit of the trade is done. :)
     
    lukeamac likes this.
  11. lukeamac

    lukeamac

    Posts:
    13
    Likes Received:
    2
    Joined:
    May 8, 2017
    So I was on the right path here then? Bit late to the party but my thinking was along the right lines?
     
  12. Toyota Lexcen

    Toyota Lexcen

    Posts:
    211
    Likes Received:
    3
    Joined:
    Aug 29, 2014
    the big4 are well undervalued,

    in the competitive market they are still going okay, the problem with aus shares/businesses is they can't takeover anybody and they are regulated too heavily, way too heavily

    at the moment we have 4 banks all with the same interest rates,
     
    lukeamac likes this.
  13. ianna

    ianna

    Posts:
    14
    Likes Received:
    3
    Joined:
    Jul 9, 2011
    For what it's worth I sold ANZ in January at 31 and a bit and bought back in yesterday at 28.75. 5.5% fully franked. Looked inviting but will be keeping a close eye on SP.
     
  14. lukeamac

    lukeamac

    Posts:
    13
    Likes Received:
    2
    Joined:
    May 8, 2017
    What's SP? See this used everywhere
     
  15. SuperGlue

    SuperGlue

    Posts:
    299
    Likes Received:
    13
    Joined:
    Nov 1, 2009
    Bang on this bank.
    The cheapest bank.
    If you put money in this bank.
    You might go bankrupt.
    If it doesn't go bankrupt.
    You'll be on their dividend bank-roll.

    Beware the Brexit.
    Get ready to exit.

    Beware the fluctuating currency.
    Buy "CYB" if you fancy.

    Don't know company fundamentals.
    Buy "CYB" if you are mental.

    Cheapest bank around town
    Buy "CYB" if you are mentally sound.

    Please do your own research.
    Easiest is Google search.

    Loss can be brisk.
    So buy at you own risk.
     
  16. The Bear

    The Bear

    Posts:
    25
    Likes Received:
    4
    Joined:
    Jan 8, 2015
    Share Price or Stock Price I'm guessing.
     
  17. OmegaTrader

    OmegaTrader

    Posts:
    520
    Likes Received:
    55
    Joined:
    Jul 19, 2016
    I remember I thought oh yeah Asx will open down due to big banks etc etc.

    Yesterday I think the market when up. From memory the big four were down about .5% when I looked at it and the competition BOQ, Bendigo and adelaide etc were up about .5% or so. Was part of that due to the news. Probably IDK. What will the long term impact be of hitting IDK. Will it come into law or be repealed IDK. Will the banks still be psudeo backed by the government fi the sh!t hits the fan. Probably IDK

    Look into the fundamentals for yourself and Do your own research. For value the holding period would be years and years.

    That is all I know as a newbie.
     
  18. frosty

    frosty

    Posts:
    2
    Likes Received:
    0
    Joined:
    Nov 15, 2007
    most banks are also trading or will trading ex-dividend around this time. this also will effect SP
     
  19. Quant

    Quant

    Posts:
    489
    Likes Received:
    134
    Joined:
    Dec 13, 2015
    All I will add to buying banks mid May is that its a rare thing for June XFJ to make a HL than MAY , as a swing trade you will do better to wait till june swing low more times than not . for those short term trading banks I'm sure you can find a reason to buy a few times a week but I am referring to buying banks in regards to a multi week hold . I might be wrong this time but i'd suggest the odds of that are slim to none .... carry on

    Banks have a lot more headwinds than they did 6 weeks ago ( APRA and budget levy ) and that is weighing on outlook and I would suggest will continue to
     
  20. lukeamac

    lukeamac

    Posts:
    13
    Likes Received:
    2
    Joined:
    May 8, 2017
    After timing if I've ever seen it. In and out already for profit on 5 banks. Thanks though for actually adding something constructive, albeit after the event.
     
Loading...

Share This Page