NAB - National Australia Bank

[JetDollars]

Re: NAB?

Stefan,

I agreed with you, NAB is a good buy for long term investment, but just because you are a long term investors does not mean you should buy stock at anytime as long as your fundamental analysis is correct.

Fundamental analysis is to look for stock that are undervalue, then you also timing your entry position to take full benefits.

As I mention somewhere in this topic above, waiting for opportunity before you entry your position.

I am picking on you here, but I would like to take the below situation as an example, if I could:
Early on you mention NAB was a good buy at $26.90 for long term, I agreed with you but not at this price and back then I was in believe that NAB does not provide any support line, therefore it might go down further and as you can see NAB went down as low as $26.33 (close on thursday. Which meant a gap of $0.57 that is quite an amount because as a long term investor then you would enter your position quite a large amount.

If you enter your position say at $70k then the different is $1500 which is quite a lot of money.

Take care and thank you for your analysis.

 

[pxk]

Re: NAB?

Stefan
History shows that properties in some city fringe areas in our major capital cities never go down they always move up in price, it might be low % but they still go up.

And why would I go out and buy a stock at record levels then? Some parts of your posting are clearly in conflict with other parts.

When the Aussie market takes a dive(not over heated yet) you'll get companies like BHP fall due to panic, but then BHP would recover because of over 80% of their interests are overseas.

Alot of NAB's overseas interests have made huge losses. eg Homeside wholesale lending in the US, stuffed up in Britton, lost in Singapore. Telstra always make a huge profit but their shares go nowhere, "no overseas interests".

(Thursdays quote)

NABs saving grace will be if they sack 1000 workers or so or start selling some overseas concerns.

On Friday the NAB make a short lived effort too boost their share price with an anouncement that they're going to get rid of their IT section, and the price rises 14 cents. (no social consience)
They still have to pay out their staff with a couple of years of wages, Employ contractors to run their IT departments. Whoever wins the IT contract will have them by the short and curlies. Each time they go out to tender(which they''ll have to do every 2-3 years) are they going to replace the contractors with another contracting company who don't know their systems, I dout it. Myer's CEO (ex banking guy) got rid of their Human Resource departments back in 85 or 86 which lifted their share value, got his bonus and then buggered off. Their training went out of the window, down the track sales dropped. 2 years ago they went back to a structure with a HR level to train and motivate the staff.

If we had Banking CEO's running the country we be all on the dole or we would be trying to get refugee statas in countries like the phillipines or even worse "New Zealand" just to get work.

 

[stefan]

Re: NAB?

Pxk,

History shows that properties in some city fringe areas in our major capital cities never go down they always move up in price, it might be low % but they still go up.

That couldn't be further from the truth. It's just been a while since the last big pullback in the early 90s. Mind you that the Australian phenomenon of rising property prices has cast a spell on most Investors. They think property never loses in value. We shall see...

When the Aussie market takes a dive(not over heated yet) you'll get companies like BHP fall due to panic, but then BHP would recover because of over 80% of their interests are overseas.

I don't agree. You see, the market will not only dive in Australia. It's pretty sad already all over the world and economies in all major corners of the planet aren't recovering at the speed most people would like. If Australia crashes, then having an overseas interest will not help if these economies are down as well. And that's exactly the way it currently is.

Hey! I do agree with you regarding the IT outsourcing stuff you said. Just the usual action. Send some people home, that will increase the companies share price. Doesn't pay off for long as you said yourself.

... we would be trying to get refugee statas in countries like the phillipines or even worse "New Zealand" just to get work.

I'm not going to comment on these remarks.

 

[stefan]

Re: NAB?

Come on guys,

What happened to the good old NAB thread?
No more postings? Have you all lost interest?

Let me try to kick start it again...

I consider NAB a buy for longer term, but I now also consider it a buy for short term. It has somehow found some support around these levels and I would expect a quick spike up to the $27+ range this week.

Happy trading

Stefan

 

[GreatPig]

Re: NAB?

I'm wondering if it's about to bottom out into a head and shoulders formation.

Cheers,
GP

 

[stefan]

Re: NAB?

Which means it would be trading along without any clear indication up or down?

Happy trading

Stefan

 

[GreatPig]

Re: NAB?

Stefan,

Which means if it forms a mirror image of the circled bit there then pushes up above about $27 or so, it could recover further.

GP

 

[stefan]

Re: NAB?

GP,

Thanks for the clarifiation! So your chart would support my idea then?

Happy trading

Stefan

 

[JetDollars]

Re: NAB?

I guess NAB found support around the $26 mark. Which mean it is a buy opportunity here. Stop Loss should be set just below $26 say $25.94.

The reason I set stop loss at $25.94 because people liket to trade at the exact number like $26.00, $25.95, $25.90 and so for.

 

[stefan]

Re: NAB?

After the CBA hammer today, I'd be careful before I'd buy any banking shares. Let's just see what happens next. I withdraw my short term buy for NAB (for a day or 2 anyway) but stick to the long term one.

Happy trading

Stefan

 

[stefan]

threadRe: NAB?

As mentioned in the CBA thread, they have gone ex dividend today so that explains the pullback. I therefore re initiate my short term buy for NAB.

Sorry for the confusion. Just goes to show what happens if you don't follow a stock...

Happy trading

Stefan

 

[GreatPig]

Re: NAB?

I'm wondering if it's about to bottom out into a head and shoulders formation

And this is what it looks like now.

Cheers,
GP

 

[Lucstar]

Re: NAB?

Yer, its finally broken the resistance. I've got NAB stocks myself. I just bought into it a two weeks ago. What do you guys think?? Is this just a false alarm?? Or is NAB about to pull something off??

 

[JetDollars]

Re: NAB?

the whole market is picking up at the moment so NAB will do well in the near future

 

[still_in_school]

Re: NAB?

Hi Guys,

technically IMHO, i think NAB still has some fundamental issues, and over the last couple days it been trading around the $27.00 mark, the main problem i see is, that the stock seems to have risen in value, relatively to the low volume of trades, currently at the moment just purchased some NAB8o Oct $27.50 Puts at .735, option price jumped to .79cents back now trading around .75, but mainly on the T/A im seeing that the RSI is too high and that the stock price should come down in the next few days...

lets see what happens tonight in the US with analyst reportings, could be an interesting monday morning, depending on tonights reportings.

Cheers,
sis

 

[stefan]

Re: NAB?

Does anybody know what happened to NAB today? Why is it down 1.2%?
I didn't follow it for a while.

Happy trading

Stefan

 

[Bingo]

Re: NAB?

Generally the banks turned down when Japan opened lower. CBA as well. There was a further downgrade of NAB yesterday.

Bibgo

 

[stefan]

Re: NAB?

Thanks Bingo! Much appreciated.

 

[mime]

NAB

Anyone know why it is not moving much. The other banks(cba) are volitile right now while nab is sitting pretty still.

 

[JetDollars]

Re: NAB?

Generally the banks turned down when Japan opened lower. CBA as well. There was a further downgrade of NAB yesterday.

Bibgo

Just wanna have a bit of fun because I just notice that you spell you name wrong.....LOL...LOL...LOL