CBA - Commonwealth Bank of Australia

[wavepicker]

Well it definitely fell into 18th, as you would expect when a stock goes ex-div however it has continued to go lower. Was Mr Fibonacci telling fibs?

Absolutely not!! LOL. Mr Fibonnacci cannot fail. Only my intepretation of Mr Fibonacci fails on occasion, especially when there is more than one possibility!! So you see I told the fibs, hopefully I won't tell as many fibs in the future and improve!!.

Nevertheless next week should be better for the banks. It's always nice to get into something bang on target both in price and time, unfortunately does not happen all the time. Within a few days is satisfactory though. Not too worried at this stage, went long 43.65, and will endure a little drawdown.

Cheers

 

[josjes]

Absolutely not!! LOL. Mr Fibonnacci cannot fail. Only my intepretation of Mr Fibonacci fails on occasion, especially when there is more than one possibility!! So you see I told the fibs, hopefully I won't tell as many fibs in the future and improve!!.

Nevertheless next week should be better for the banks. It's always nice to get into something bang on target both in price and time, unfortunately does not happen all the time. Within a few days is satisfactory though. Not too worried at this stage, went long 43.65, and will endure a little drawdown.

Cheers

so what is wrong with the fibs prediction wavepicker, esp. timewise, as it was quite off the predicted time 18/2 compared to 22/2. Just interested to know and learn too. Was reading your explaination on XAO analysis thread that in bear trend, the time contract further when price is falling which is opposite of bull trend. Is this the reason ?

 

[dhukka]

Absolutely not!! LOL. Mr Fibonnacci cannot fail. Only my intepretation of Mr Fibonacci fails on occasion, especially when there is more than one possibility!! So you see I told the fibs, hopefully I won't tell as many fibs in the future and improve!!.

Nevertheless next week should be better for the banks. It's always nice to get into something bang on target both in price and time, unfortunately does not happen all the time. Within a few days is satisfactory though. Not too worried at this stage, went long 43.65, and will endure a little drawdown.

Cheers

It looks as though you'll get a nice bounce on the back of the rumoured AMBAC bailout on Monday, even if it is only temporary.

 

[wavepicker]

so what is wrong with the fibs prediction wavepicker, esp. timewise, as it was quite off the predicted time 18/2 compared to 22/2. Just interested to know and learn too. Was reading your explaination on XAO analysis thread that in bear trend, the time contract further when price is falling which is opposite of bull trend. Is this the reason ?

Generally speaking, it should be plus or minus a day of off the mark. You have mentioned Rob Mchugh earlier, and he allows plus or minus a couple of days. My mistake here that there was more than one possibility. There was 18/2 working off traded days. The market fell into this (and resulted in a very minor turn of one up day following the divvy day.

Working off calendar days the other possibility was on the 24th Feb(Which is a Sunday), and as such implies we had a nother one on Friday/Monday.

The challenge for me is somehow to come up with a way of determining which will be the most significant when we have 2-3 possible days that fall very close together(within 1 week) as in this case. If you are trading fully paid shares it probably doesn't matter as you can endure the market moving back and forth in that timeframe and hold. If you are a derivatives or options trader as myself, then timing is much more crucial.

Robert Prechter, who is a probably the best EW analyst got around it this way. If he knew he was in a fifth wave as now, he would initiate a position where he thought the 5th wave terminated. For me that was Monday. What he did though was not put all his intended $$ in the trade at once(he only put in 1/3), because 5th wave can extend a little. If the market falls further he add some more and buy twice as many contracts again, and then if the market fell even further because someone panicked because some more fundemental news came he would buy the rest in effect casting out his little basket and buying some very cheap options. This way you are making intelligent bids working off other people emotion. This what I did last week, fingers crossed, hope it works out!!

 

[wavepicker]

It looks as though you'll get a nice bounce on the back of the rumoured AMBAC bailout on Monday, even if it is only temporary.

It was always a temporary proposition, but the bounce will last at least into the 11th March so it's very tradeable

 

[kingbrown]

The banks have had a stella time in the last few years
I should now i have been a long term invester since they floated
But i had started to get a reality check 12 months ago

What goes up up and up

Comes Down Down Down

 

[Trembling Hand]

Who would of thought an oversold stock could get more oversold then again more oversold.

Trying to trade this thing long is very odd game?? She hasn't looked like making a higher high since Mid November. Would be interested in why some have played on the long side since then.

If you removed the ticker and forgot about the name the chart has looked terrible for a long time. I wounder if it didn't have the mighty CBA on the chart if people would see it the same way.

Not a gloat I tried catching some knifes back in Jan. Soon went back to my day trading

 

[oldblue]

Like ( almost) everything else, CBA will turn back up in due course.
When that happens, they will still be a terrific banking franchise and I'll be ready to buy. But not yet.

 

[dhukka]

It was always a temporary proposition, but the bounce will last at least into the 11th March so it's very tradeable

Hmmm telling fibs again? Seems the bounce was of the dead cat variety. That Fibonacci has a lot to answer for.

 

[cuttlefish]

Took the final part of profit on my put options position today - not because I think the downward slump has ended but mainly because they're getting closer to expiry and I'll be away the rest of the week.

Wish I'd stacked up a larger position and hadn't taken as much partial profit earlier on but hindsight is a wonderful thing.

 

[treefrog]

bit selling going on - down 140c in last thirty minutes so will rest of financials follow this arvo????

 

[madbull]

What are peoples opinion about CBA and its takeover talks with ABN?

I recently got out of CBA since my stop was triggered hoping to find a cheaper entry point but I'm considering whether or not this was the right thing to do now.

 

[dhukka]

Just thought I would update the chart that I posted back in February. The data comes from the RBA and is to the end of March 2008 (before announcements by ANZ and NAB). As you can see impaired assets have turned sharply upwards. However impaired assets as a percentage of total assets still remain historically low but the trend suggests it may not stay that way.

 

[JTLP]

Has CBA seen the bottom? I am currently overseas so I can't post charts or anything (Hostel living for the win!) but from looking at the yearly it looks like CBA has been in a modest uptrend from the March lows (higher highs/lows etc).

Thoughts? Can anyone post a chart?

Thanks =)

JTLP

 

[grace]

Has CBA seen the bottom? I am currently overseas so I can't post charts or anything (Hostel living for the win!) but from looking at the yearly it looks like CBA has been in a modest uptrend from the March lows (higher highs/lows etc).

Thoughts? Can anyone post a chart?

Thanks =)

JTLP

Happy holiday
You are beating me in the comp with that minemakers thing! Go Linc Go!

Here is a chart......looks pretty sideways to me, although I am not a tech head!

 

[JTLP]

Ahhh i was looking on the Comsec charts (using a line chart) and it seemed to be in a bit of an uptrend (not with those candles though). It was also on a yearly. Thanks for that grace...much appreciated! (and yes go MAK...it's a bit of a tussle between us at the top)

 

[Green08]

COMMONWEALTH BANK OF AUSTRALIA ASX NOTICE REGARDING BANKWEST

Sydney 2 October 2008:

Commonwealth Bank is aware of recent media speculation regarding the possible acquisition of BankWest.
Commonwealth Bank regularly reviews acquisition opportunities but at this time confirms we do not have any offer with HBOS plc to acquire BankWest

 

[deadset]

CBA is looking lonely with 0 trades today, so they are going for BankWest afterall. What time does CBA open again ?

 

[Tysonboss1]

CBA is looking lonely with 0 trades today, so they are going for BankWest afterall. What time does CBA open again ?

they are in a trading halt.....................................................................................................

 

[deadset]

"Shares in the Commonwealth Bank of Australia (CBA) have been placed in a two day trading halt while the lender raises $2bln capital to finalise its acquisition of BankWest and its wealth management arm St Andrews. CBA will pay $2.1bln for the group from its UK based owner HBOS. CBA shares last traded at $45.15."