This is a mobile optimized page that loads fast, if you want to load the real page, click this text.

CBA - Commonwealth Bank of Australia

Jump to new
Wow, can't believe it was a month ago since one of the top 5 shares on the ASX was discussed.

Anyone know why it dropped 3% this morning before recovering? Some announcement about the Bankwest acquisition maybe?
 
Possibly on media reports that ABC learning is about to go from intensive care into the hands of the corporate undertakers.

CBA is a $500m creditor.
 
Sky business channel commentator on your money your call last night stated that CBA was "very smelly". Can't recall the exact wording however my interpretation was as follows,

Suncorp deposits were/ are in jeopardy hence the government guarantee on bank deposits being introduced and that if that guarantee gets lifted he wouldnt be surprised to see Suncorp share price hit $3.00. He then went on to say that CBA is also "very smelly" on the same lines. That was his reasoning as to why no one can make an offer for Suncorp as they are in dire straits so a value cannot be put to them.

Any truth to this? Only insiders would know however i wondered at the time what impact those comments would have on Sun and CBA today.

How to gauge the effect of these comments? Interesting to say the least and do they have to substantiate given theior positions as brokers or do they get to slate a stock and buy low?
 

drsmith said:
Possibly on media reports that ABC learning is about to go from intensive care into the hands of the corporate undertakers.

CBA is a $500m creditor.
Click to expand...



try multiqoute again, hope it works

my opinion, reason they are not passing on full interest rate cut is cause of OS funding is rising due to our lowly dollar. approx 30% is sourced OS

As i stated on the ABS thread, that company is rooted, I looked at it ages ago and couldnt beleive anyone would invest.

I doubt they would be cost flow positive, even if you ignored the interest bill completely.

CBA will take a complete loss, the govt wont let them close the doors, or no mummies can go to work!
 
Interesting Chart for CBA. Has formed a nice trading range within a Rectangle for the past 10 months. May have the potential for a big move either way depending which way it breaks. Definitely one to keep an eye on.
 

Attachments

  • CBA.JPG
    140 KB · Views: 16
Sunder said:
Wow, can't believe it was a month ago since one of the top 5 shares on the ASX was discussed.

Anyone know why it dropped 3% this morning before recovering? Some announcement about the Bankwest acquisition maybe?
Click to expand...

drsmith said:
Possibly on media reports that ABC learning is about to go from intensive care into the hands of the corporate undertakers.

CBA is a $500m creditor.
Click to expand...
I offered another reason for the drop in my post this morning. This was deleted because I wrote words which were not meaningful in order to fill the 100 character rule. So I am now trying again to offer the information given earlier, i.e. that CBA also have significant exposure to AFG which is following the ABS path. Hope this helps.
 
johnnyg said:
Interesting Chart for CBA. Has formed a nice trading range within a Rectangle for the past 10 months. May have the potential for a big move either way depending which way it breaks. Definitely one to keep an eye on.
Click to expand...

The longer term chart 16yrs or so is more interesting as a log chart as it shows CBA has broken trend and is consolidating just under the trend line and of course today it broke down from the rectangle it had formed in your chart on good volume time will tell but it does not look bullish at all
 
thanks for the analyst Maybe it'll be heading north today with the small rally they are having in the states. Hope i didnt jump in too early like i always do.
 
Awesome stuff Nick........as always . Some pretty disturbing targets there but thankfully I do not hold ATM.......will be watching with interest.

Do you see a similar bearish senario for other Banks also??

Cheers

MB
 
Wow thanks Nick, that is some very in depth analsis. I will be watching CBA very closely for the rest of the week, especially after the 6.29% fall ($2.39) today. I think if CBA hits $30 i will be buying, the only worry is their $600+ million exposure to ABC and $200million exposure to Allco.

Guess we'll have to wait and see.

Thanks again Nick
 
CBA yielding 10% on a pe of 8 ish.

Anyone else thinking it's approaching oversold - long term opportunity?
 

Attachments

  • CBA.gif
    22.2 KB · Views: 11
Wow, lucky i got out a few days ago. It doesn't look like a fakeout. Maybe the $15 scenario is coming?!
 
kennas said:
CBA yielding 10% on a pe of 8 ish.

Anyone else thinking it's approaching oversold - long term opportunity?
Click to expand...

I have the FY09 forecast yield at around 8.6% according to comsec consensus estimates (assuming a price of $31) but I'd be careful about the yield, CBA announced what amounted to a profit warning last week in their September quarter trading update. Short term it looks oversold, especially when it dipped below $30 earlier this morning.
 
The CBA will be downbeat until that huge white elephant in the room - Centro Properties is resolved. Looking at the price of CNP and CER, any hope for them seems to be fading fast.

If Centro fails it will be Australia's largest corporate collapse, and CBA is exposed. The expiry of the funding deadline is December 15th, which is looming ever closer.

Under that scenario, a target of $15 (or at least much lower than current prices) couldn't be ruled out.
 

Keep an eye out for what discount to book value Centro are accepting for asset sales in CAWF/CSIF etc. CBA & Co controls this process now. If it starts heading to the 'firesale' territory (say 15% plus), then you know that CBA and co are 'losing faith' in trying to trade out of the mess Centro are in.
 
Wouldn't go near it long term. Short term it seemed logical that it might hit some resistence to its downward plummet around the $30 mark so it might pause here for a while and consolidate for a bit before any further moves down.
 
What is ( best guess ) CBA's exposure to CNP group?

How much was ( theoretically) covered by first ranking security?
 
You must log in or register to reply here.

Similar threads

M
WEF corrupts countries
Replies
6
Views
402
SirRumpole
T
Trender's Price and Volume trading
2
Replies
22
Views
2K
trender
T
Interactive brokers and Australian tax
Replies
2
Views
3K
lewischan
L
OZXX - Global X Australia ex Financials & Resources ETF
Replies
1
Views
1K
divs4ever
Australian trading US stocks
Replies
15
Views
2K
christrad
Menu
Log in
Register
Cookies are required to use this site. You must accept them to continue using the site. Learn more...