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CBA - Commonwealth Bank of Australia

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stefan

Joined
17 June 2004
Posts
668
Reactions
2
CBA

Wow, what happened? I once predicted a pullback on CBA but I didn't really follow it. Down 3.6% today!

Happy trading

Stefan
 
Re: CBA

Stefan,

As I indicated in the reversal pattern thread yesterday, CBA seemed to have formed a double top. All it needed was a drop down through the support line at around $30.80 and that would be it.

Seems to have done that now, with the current price being $29.77.

Cheers,
GP
 
Re: CBA

There were announcements on Friday (after the market closed?) that NTA for the last 4 years has been revised down. Would that start a selloff?
 
Re: CBA

I'd say investors are very cautious with banks after the NAB correction. The slightest hint of trouble leads to a selloff. Anyway, I guess it won't be all too bad for now. Depends on what follows...
 
Re: CBA

Well, as far as I can see, the reason for the pullback is that CBA has gone ex dividend. Didn't realize that earlier today. So just forget about it. Nothing bad had happened. They are paying $1.04 in dividend and so the stock has pulled back that much.

I therefore re initiate my short term buy for NAB as well...

Happy trading

Stefan
 
Re: CBA

I think that the banking sector will find it hard to maintain its' profit growth. However, the yields are good and profit and dividends will still rise albeit at a slower rate, so unless interest rates have a significant rise they still seem to be excellent to hold. That is you receive a good fully franked dividend and a steady capital gain.

It is interesting to follow the paper reports. Not long ago it was all about the banking sector has had its day and it was time to sell. The bank share prices are up about 7% since then and now I read in the Financial Review to-day that bank shares may rise because as the weight of NCP reduces in the S&P the banks weights will increase and therefore the institutions will need to buy the banks to maintain their weights. This is obiously true of any sector other than NCP.

All in all I am holding and will continue to do so.

I hold ANZ,CBA,STG and WBC. I also hold the unlisted IMB (Illawarra Bld Soc).

Bingo
 
Re: Company or individual?

below are the links for the common wealth bank which has the
daily/week/month/quater behaviour
please do check

to have a clear image of the link go to view select text size and select largest
http://routeinfosys.com/ex/CBADAILY.jpg
DAILY AVERAGE LINE

http://routeinfosys.com/ex/CBAWEEK.jpg
BUY INDICATION SINCE 18 JAN 2004 AT 30.79$


http://routeinfosys.com/ex/CBAMONTH.jpg
MONTHELY LINE BEHAVIOUR AS TO WHERE THEY STAND I KNOW THE WORKING HOW LOW IT
CAN GO WHEN FALLS FROM THE HIGH


http://routeinfosys.com/ex/CBAMONTHEXCEL.jpg
MONTHELY AVERAGE BEHAVIOUR SINCE DAY ONE WHERE I KNOW LONG TERM BUY AND SELL


http://routeinfosys.com/ex/CBAQUATER.jpg
QUATER LINE BEHAVIOUR
 
Re: Company or individual?


Thanks for those links mate but I'm too thick to figure it all out, could you please explain it to me please? THanks!
 
Re: CBA

Took a trade on CBA with calls when it hit my support line yesterday and gave a nice 30 cents move at the end of the day. It doesn't look like a strong movement up so will look at getting out today.
 

Attachments

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Re: CBA

And sold out catching a 60 cents move. Gotta love the short term stuff.

Might miss more of an upmove but things are so choppy.
 
Re: CBA

Another view of CBA from a different chart.

CBA seems to have hit long term resistance of $37.75. Can it break through? I doubt it but will wait for tomorrow/next week to confirm this before going short on it.

Having problems posting the chart. Will do it later.
 
Re: CBA

I like the banks. As Bingo said, there's steady growth, good income and franking. I have ANZ, CBA, MBL, plus the smaller but nonetheless good yielding Bendigo Bank, Suncorp and Wide Bay.


Julia
 
Re: CBA

DTM..

did the same trick with wbc today,, i'm happy
 
Re: CBA

Julia said:
I like the banks. As Bingo said, there's steady growth, good income and franking. I have ANZ, CBA, MBL, plus the smaller but nonetheless good yielding Bendigo Bank, Suncorp and Wide Bay.


Julia
Click to expand...

Banks are looking toppy to me right now and won't be suprised if they drop a lot this month. It also feels like that banks have been rerated downwards by institutions the way some of them have been selling.
 
Thought this was worth a short today...
 

Attachments

  • cba_020307.gif
    5.9 KB · Views: 1,599
I like the bank too specially using warrants as leverage. You get all the above mentioned plus leverage.
My only issue at the moment is that I have some CBAIM4 (macquarie issue) and even thought the dividend was due on the 05/04/07 it has not been paid to my account yet. How come an issuer can defer dividend payment, it is not the only time it happens to me with macquarie bank. ABN amro and other warrant issuer all pay on time
 

Hi Fab.Did you receive your dividend payment yet?
I also am waiting. Nothing as yet.
Cheers Nevieboy.
 
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