NAB - National Australia Bank

[dhukka]

Btw big shot, my argument re NAB and learning from mistakes was not founded by delusion but through many sources I've read- see 'Top 100 Stocks for 2008'- they talk about how NAB now focuses on sustainable, organic growth and has cut their cost profile - lessons learnt from past mistakes, particularly the UK. If you don't believe me do a little research on it. It is hardly a pathetic delusion but a well agreed upon fact, same story with how AMP is run. So, sorry to prove your little psychological quip incorrect buddy

Now I know you're delusional if you think reading Top Stocks constitutes research. Wasn't NAB in Top Stocks 2007 edition? How did that pan out?

 

[AnDy62]

Did you see the phrase 'many sources'? I don't consider Top Stocks good research - I was just pointing out my original post about the hard knocks wasn't my own self-delusion. Anyway, kick the boot in again... I don't really care.

 

[adamim1]

NAB worth investing in after their big crash? It seems like they have plateaued, and maybe on the rise?

 

[McNovice]

what's our verdict on these guys? The telegraph business insider yesterday said sell. I still think they are at a good price today

 

[AnDy62]

^ I wouldn't pay too much attention to that, I've seen many other sources saying the opposite - it's subjective. Personally, I feel that there can't be too much more down side from here especially with that dividend. Also, NAB has the most exposure to agribusiness of the banks in Australia and might be well positioned in that regard. DYOR.

Disclaimer- I don't hold NAB but will look to jump back on some time.

 

[Grinder]

NAB

Noticed there is no postings on this forum on NAB, so I will start one. After todays results and the price climb there seems to be quite alot of interest. I have been quite bearsih on the big banks shorting them of late, but am starting to think it's NAB could push up through $33. What do others think?

 

[Grinder]

aahh.. there it is. Don't quite know what happened, but there is a thread after all. Must be Fri arvo, nevermind.

 

[oldblue]

Re: NAB

Noticed there is no postings on this forum on NAB, so I will start one. After todays results and the price climb there seems to be quite alot of interest. I have been quite bearsih on the big banks shorting them of late, but am starting to think it's NAB could push up through $33. What do others think?

Hi Grinder
Do you have some T/A reasoning to support that or is $33 just a gut feel following a better than expected result?
I hold NBA but must confess I have no idea how the SP will go. I reckon the banks will be hostage to bigger, world-wide-type influences for a while yet and I can't guess how those will play out.

 

[robots]

hello,

great result for NAB, for many who follow the man, in this case Michael Chaney it is good news

thankyou

robots

 

[dhukka]

hello,

great result for NAB, for many who follow the man, in this case Michael Chaney it is good news

thankyou

robots

A great result? I'd call 8.7% increase in eps in the current environment reasonable but hardly great. Compared to 2H07 profit and eps were both down. Provisions for bad debts are up susbstantially and volumes are slowing. A tough environment for the banks going forward.

 

[oldblue]

I'd call it a solid result in a very tough environment.

Just not too confident of prospects going forward and after all, that's what the market is interested in.

 

[Grinder]

Re: NAB

Hi Grinder
Do you have some T/A reasoning to support that or is $33 just a gut feel following a better than expected result?
I hold NBA but must confess I have no idea how the SP will go. I reckon the banks will be hostage to bigger, world-wide-type influences for a while yet and I can't guess how those will play out.

Nope, no T/A on the SP to suggest otherwise, just thinking aloud after yesterdays close and was interested to hear from someone else. Don't hold NAB but will be watching closely.

 

[mapna]

I guess this is just a day-to-day momemtum, the global financial crisis is still very bad, AIG just posted a big loss in the US, European financial markets are also effected heavily by this crisis.

"AIG Tumbles

AIG lost $3.87, or 8.8 percent, to $40.28, contributing the most to the declines in the S&P 500 and Dow. The world's largest insurer reported a first-quarter net loss of $7.81 billion, compared with earnings of $4.13 billion a year earlier. AIG wrote down contracts it had sold to protect investors by $9.11 billion in the quarter to comply with rules that require the company to estimate their present market value. Standard & Poor's and Fitch Ratings cut the company's credit grades after the announcement. "

based on the comments from number of analysts, they reckon financial crisis is still far from over yet. There are still more coming out after the bad results from AIG


IMO - DYOR

 

[karundus]

I am holding NAB i bought in at $32 ...

What do you think the share price will get up to in the long term?

 

[hoppielimp]

It appears that between the Banks most of the Banks feel the write downs are almost complete for them.

They have said though that because of how the insurance companies categorise their sub-prime exposure as investments, that their reporting of these issue will start to surface this year...hence the bad news in theory, will come pretty much from insurance companies...not the retail/investment banks.

 

[questionall_42]

It appears that between the Banks most of the Banks feel the write downs are almost complete for them.

They have said though that because of how the insurance companies categorise their sub-prime exposure as investments, that their reporting of these issue will start to surface this year...hence the bad news in theory, will come pretty much from insurance companies...not the retail/investment banks.

Hoppielimp - can you elaborate on that. I would have thought that accounting standards were consistent between banks and insurance cos, so that there would not be in any discrepancy in how they report their losses or write-downs.

It is also arguable that the banks have completed all their write-downs; in theory, as the economy slows, more write-downs would surface. Take Commander Communications (CDR) as an example, or even the ABSs or CNPs or AHGs - big losses waiting to be booked.

 

[gazelle]

On the weekly chart NAB has ran out 180 & 360 deg into the 16th May which could indicate a change of trend is due . The initial drive into Nov high was approx 875pts in 90 days with price action exhausting into the top . The current rally has ran approx 875pts in 63 days so price has balanced in a shorter period of time indicating a strong trend . NAB has a historical tendency to change trend on seasonal dates so I have looked at price in relation to the geometrical angles and points of resistance for additional confirmation . The uptrend is still in place with the largest pullback in the current drive being 453pts in approx 15 days or a little over two weeks . we can use this as a directional gauge to reduce our current position in the anticipation of a pullback in either time or price back to the target level . 3530 level comes out on 1/2 & 1/4 retracement points so any further weakness below this point will indicate change of trend . Price is trading above the 45 deg angle from 4470 so if time turns trend it might only be for 1 - 2 weeks at most . 10th Oct is another significant date to watch .

 

[Frank D]

NAB goes ex-div last day of this month, so there is an expectation that price is going to gap down....

 

[gazelle]

Time has turned trend and price is trading below 3530 mid point level and below the 63 3/4 deg angle from 4484 top ( 1x 2 ) which further indicates short term resistance . Downside target is around 3029 which will balance the previous counter in price . Previous counter ran down 15 days in time which will set the ( possibility ) of a an equal move down in time and price to 3029 towards the end of the month . There are other timing dates coming in so I will look at these in further detail but balancing counters asgainst each other can provide us with a directional gauge to expect trend to turn but the primary componet is time .

 

[jwjw2121]

Seems a bit of a drought on NAB related posts here... very cheap at the moment although I read an article with reference to David Hunts predictions (he correctly predicted that the market would downturn after october last year) - he reckons that the market will bottom out in mid-Oct/early Nov after the US hits its predicted bottom in early/mid Oct. so the question is to hold or sell and buy back at a lower price? Extremely cheap today at under $20 given that most analysts value it at $33-35.