• Australian (ASX) Stock Market Forum

CBA - Commonwealth Bank of Australia

Discussion in 'Stocks 0-H' started by stefan, Aug 17, 2004.

  1. stefan

    stefan Well-Known Member

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    CBA

    Wow, what happened? I once predicted a pullback on CBA but I didn't really follow it. Down 3.6% today!

    Happy trading

    Stefan
     
  2. GreatPig

    GreatPig Pigs In Space

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    Re: CBA

    Stefan,

    As I indicated in the reversal pattern thread yesterday, CBA seemed to have formed a double top. All it needed was a drop down through the support line at around $30.80 and that would be it.

    Seems to have done that now, with the current price being $29.77.

    Cheers,
    GP
     
  3. ghotib

    ghotib THIMKER

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    Re: CBA

    There were announcements on Friday (after the market closed?) that NTA for the last 4 years has been revised down. Would that start a selloff?
     
  4. stefan

    stefan Well-Known Member

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    Re: CBA

    I'd say investors are very cautious with banks after the NAB correction. The slightest hint of trouble leads to a selloff. Anyway, I guess it won't be all too bad for now. Depends on what follows...
     
  5. stefan

    stefan Well-Known Member

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    Re: CBA

    Well, as far as I can see, the reason for the pullback is that CBA has gone ex dividend. Didn't realize that earlier today. So just forget about it. Nothing bad had happened. They are paying $1.04 in dividend and so the stock has pulled back that much.

    I therefore re initiate my short term buy for NAB as well...

    Happy trading

    Stefan
     
  6. clowboy

    clowboy Well-Known Member

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    CBA

    Hey,

    Any thoughts on CBA or the banking sector in general?
     
  7. Bingo

    Bingo Well-Known Member

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    Re: CBA

    I think that the banking sector will find it hard to maintain its' profit growth. However, the yields are good and profit and dividends will still rise albeit at a slower rate, so unless interest rates have a significant rise they still seem to be excellent to hold. That is you receive a good fully franked dividend and a steady capital gain.

    It is interesting to follow the paper reports. Not long ago it was all about the banking sector has had its day and it was time to sell. The bank share prices are up about 7% since then and now I read in the Financial Review to-day that bank shares may rise because as the weight of NCP reduces in the S&P the banks weights will increase and therefore the institutions will need to buy the banks to maintain their weights. This is obiously true of any sector other than NCP.

    All in all I am holding and will continue to do so.

    I hold ANZ,CBA,STG and WBC. I also hold the unlisted IMB (Illawarra Bld Soc).

    Bingo
     
  8. jyotirmoy

    jyotirmoy New Member

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    Re: Company or individual?

    below are the links for the common wealth bank which has the
    daily/week/month/quater behaviour
    please do check

    to have a clear image of the link go to view select text size and select largest
    http://routeinfosys.com/ex/CBADAILY.jpg
    DAILY AVERAGE LINE

    http://routeinfosys.com/ex/CBAWEEK.jpg
    BUY INDICATION SINCE 18 JAN 2004 AT 30.79$


    http://routeinfosys.com/ex/CBAMONTH.jpg
    MONTHELY LINE BEHAVIOUR AS TO WHERE THEY STAND I KNOW THE WORKING HOW LOW IT
    CAN GO WHEN FALLS FROM THE HIGH


    http://routeinfosys.com/ex/CBAMONTHEXCEL.jpg
    MONTHELY AVERAGE BEHAVIOUR SINCE DAY ONE WHERE I KNOW LONG TERM BUY AND SELL


    http://routeinfosys.com/ex/CBAQUATER.jpg
    QUATER LINE BEHAVIOUR
     
  9. RichKid

    RichKid PlanYourTrade > TradeYourPlan

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    Re: Company or individual?

    Thanks for those links mate but I'm too thick to figure it all out, could you please explain it to me please? THanks!
     
  10. dj_ajay

    dj_ajay Active Member

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    Re: CBA

    I think you will be safe with CBA and ANZ. :D
     
  11. DTM

    DTM Well-Known Member

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    Re: CBA

    Took a trade on CBA with calls when it hit my support line yesterday and gave a nice 30 cents move at the end of the day. It doesn't look like a strong movement up so will look at getting out today.
     

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  12. DTM

    DTM Well-Known Member

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    Re: CBA

    And sold out catching a 60 cents move. Gotta love the short term stuff.

    Might miss more of an upmove but things are so choppy.
     
  13. DTM

    DTM Well-Known Member

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    Re: CBA

    Another view of CBA from a different chart.

    CBA seems to have hit long term resistance of $37.75. Can it break through? I doubt it but will wait for tomorrow/next week to confirm this before going short on it.

    Having problems posting the chart. Will do it later.
     
  14. Julia

    Julia In Memoriam

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    Re: CBA

    I like the banks. As Bingo said, there's steady growth, good income and franking. I have ANZ, CBA, MBL, plus the smaller but nonetheless good yielding Bendigo Bank, Suncorp and Wide Bay.


    Julia
     
  15. Rockon2

    Rockon2 Well-Known Member

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    Re: CBA

    DTM.. :)

    did the same trick with wbc today,, i'm happy :)
     
  16. DTM

    DTM Well-Known Member

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    Re: CBA

    Banks are looking toppy to me right now and won't be suprised if they drop a lot this month. It also feels like that banks have been rerated downwards by institutions the way some of them have been selling. :2twocents
     
  17. DTM

    DTM Well-Known Member

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    Re: CBA

    Well done, nice ranging movement there.
     
  18. Kauri

    Kauri E/W Learner

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    Thought this was worth a short today...
     

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  19. Fab

    Fab Well-Known Member

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    I like the bank too specially using warrants as leverage. You get all the above mentioned plus leverage.
    My only issue at the moment is that I have some CBAIM4 (macquarie issue) and even thought the dividend was due on the 05/04/07 it has not been paid to my account yet. How come an issuer can defer dividend payment, it is not the only time it happens to me with macquarie bank. ABN amro and other warrant issuer all pay on time
     
  20. nevieboy

    nevieboy Well-Known Member

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    Hi Fab.Did you receive your dividend payment yet?
    I also am waiting. Nothing as yet.
    Cheers Nevieboy.
     
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