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I think I believe the media this time, that the banks have topped and a sell off looks likely. Where are you guys inclined to shift to?. Miners still don't look too promising....
Out of the banks and into the...?
- Thread starter princeplanet
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...into the frying pan.
Gold stocks for me, but even they don't look too strong.
Shorting the banks maybe?
Gold stocks for me, but even they don't look too strong.
Shorting the banks maybe?
Trembling Hand
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Whats wrong with cash then?
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Which media sources have said the banks have peaked?
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Heard a coupla commentators imply this on the business channel. Also a few international reports declaring aussie banks overvalued. Two sizeable drops in 2 days.... am I over reacting? I suppose if people buy on this dip tomorrow, then we may have a reprieve, but for how long? I just feel greed is keeping me in, not a good sign. Did someone say gold?
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Good question, is Rabo still offering around 5.5% ? That's up around the banks div anyway I suppose. No franking of course, but then, no risk of capital loss either.....
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cash must be safe in our hand not in bank!!
So_Cynical
The Contrarian Averager
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Got an email last week..ill quote
http://www.rabodirect.com.au/ said:
After the 4 month honey moon rate ends.
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Huh? So is there anything higher out there at present?
Julia
In Memoriam
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Try finding out for yourself.
www.infochoice.com.au
www.infochoice.com.au
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ME Bank is 5%.
So_Cynical
The Contrarian Averager
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Is anyone shorting CBA yet
I can't post a chart and considering a break of the 69.50 level to be a significant signal that the move up is finishing.
I have expected the sign to be a removal of strength in our dollar which is coming at the moment - but resistance in the dollar at 96.5. If this breaks I think it is game on for short both the CBA stock and the AUD/USD.
Anyone have any thoughts around this ? If you can, post a chart that would be great.
I can't post a chart and considering a break of the 69.50 level to be a significant signal that the move up is finishing.
I have expected the sign to be a removal of strength in our dollar which is coming at the moment - but resistance in the dollar at 96.5. If this breaks I think it is game on for short both the CBA stock and the AUD/USD.
Anyone have any thoughts around this ? If you can, post a chart that would be great.
Trembling Hand
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It appears so. Might be a little too early at this stage.
Thanks, will keep holding for confirmation.
Profits from falling bank stocks are all the sweeter.
Thanks, will keep holding for confirmation.
Profits from falling bank stocks are all the sweeter.
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It was quite obvious from yesterday that it was o/s players bailing out.
They chased Aus for yield and strengthening AUD, and now they want out (risk off)
Note how the other financials werent hit as hard as our banks, and TLS, which has traditionally performed well on down days was getting smashed as well.
Plus the AUD falling etc etc
imo it has a while to go
They chased Aus for yield and strengthening AUD, and now they want out (risk off)
Note how the other financials werent hit as hard as our banks, and TLS, which has traditionally performed well on down days was getting smashed as well.
Plus the AUD falling etc etc
imo it has a while to go
Now I could be wrong and most likely am. This is the first chart I've actually bothered to compare with Elliot Wave Theory, therefore knowing next to nothing but does my comparison look close at all?
Or am I completely wrong?
To me (and going by Elliot Wave Theory) it's peaked at 5 already and turning over to the downside with one last little push up to come (if it goes according to the theory).
Looking forward to the replies and learning a bit about it.
Or am I completely wrong?
To me (and going by Elliot Wave Theory) it's peaked at 5 already and turning over to the downside with one last little push up to come (if it goes according to the theory).
Looking forward to the replies and learning a bit about it.
prawn_86
Mod: Call me Dendrobranchiata
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I think I have only ever seen EW called before the fact once or twice, by Boggo. Most other EW practitioners seems to enjoy fitting waves and counts to historical data, but not actually forward trading anything
I think I have only ever seen EW called before the fact once or twice, by Boggo. Most other EW practitioners seems to enjoy fitting waves and counts to historical data, but not actually forward trading anything
I'm definitely keen to see what others think, whether its a likely movement or not...or for starters if my plotting of the lines is even correct.
I might have bit of a read up on EW and see if I like it.
