ASX Shares A Closer Look at the Big 4

Maybe have a quick look at the cut-off date for the div payment on the 1-10-18 -and just don't bother with all the social attitudes media..ÍF'it's a good buy at 70$$ not sure but the german club had a bartop special while having lunch today,and they had Weissenoher reduced from 22 bucks down to ten bucks -and as now I have over 60% of the total set-up invested in CBA ,in a year time it will be a different number..
\
--
Franked (%) Ex-Dividend Date Pay Date
Final 231.00 100.00
231.00 --28/09/2018

 

Technically looking for an entry as low as possible.
Will await a major bottom then strike when the resulting new uptrend is confirmed.
But Im nervous around markets in general topping out.

 

Hey @Alex Straker have you got a market update for us?

 

All the dividends floating in this month has made me sleep easier as I wanted to buy bigger volumes at a 'major bottom'. Instead I just stuck to my plan and as I said the divvies helped confirm I'm walking the right track!
All the best

 

pretty damn close to that $70 mark throughout yesterday

 

CBA is doing what it does around this time of year,as the divs payments would be in the po box over the next few days -there are only 2 types of standalone investors outside the high end funds that invest in CBA--optimistic and pessimistic ,and it may well take over a year till the next upswing above $90..imho..

 

Banks are rallying after the Banking Royal commission interim report is out.

Full article here

Market likes what it is seeing. Big 4 banks stocks are up around 2%.

Cheers,
Oracle.

 

Imagine if your local financial planner or business owner did what the banks have reportedly done



A recent history of Australia's banking scandals

 

Yes indeed, as my clients have heard me say many times - banks are the biggest crooks in the country! People think I'm being funny saying this but believe me it's even scarier than it looks....kinda like we have a legal, organised mafia.

QUICK UPDATE - Banks re-entering buy zones, most are in a wave 2 retracement to the initial reversal impulse we saw earlier this year. The previous lows need to hold for this next wave impulse set to be validated as an upward trending one. Would need to see another impulse higher soon.

There may be enough negativity to drive the banks to new lows, if this happens the pain will go on for a while in to 2019 then another new low may become the 'all aboard' point. I will doing more work on ideal buy levels if this eventuates and will post here when appropriate,

So for now, if anyone is accumulating, here are the end of wave 2 ideal buy zones (in green)...

(Normally best to 'front run' these a little)

ANZ


CBA


NAB


WBC


No Advice

 

At least CBA have their annual meeting on the 7th of November in Brisbane this time,only my opinion Alex but it may take over a year till we get back to the bears sell at resistance and bull's buy at support ..

 

Keep enjoying the dividends in the mean time. Atleast, they pay you to hold their stock

Cheers,
Oracle.

 

I topped up at $69.65 this week.
Happy with that

Blacky

 

Thanks for the fantastic update Alex as always !!!!
looks like westpac has hit a new low today, yay ... when are you seeing the next 'all aboard' point will arrive and how low will it get ?

 

Well, last week I was happy with it

 

Hehe, last week I was happy with my purchase of NAB.

 

In the last two days I've been happy with a number of purchases, reality is, further falls are a distinct possibility. Now i'm looking forward to these dividends hitting the account!
Picked up more NAB, WBC, ANZ, PPT, TLS, WAX, PL8 and one speccy (silly me) banks are down almost 30% from 2015 highs, all ords are almost down 4% in the last month so im going to slowly ramp up my accumulating.
What is everyones thoughts on stability of bank dividends moving forward? Will shareholders be footing the bills from the RC?

 

Make or break in the next week or so. Only WBC has taken out the mid-year low at this stage so 3 out of 4 still have a valid but possibly incomplete wave 2 intact.

The financials sector rotation momentum is lagging ASX200 index (XJO) and still dying. In comparison with leading sector (Telecommunications) right now banks are not moving much (not much market interest) and the initial mid year impulse wave we saw has failed to reach a leading position (leading XJO on weekly rotation) at any stage. In contrast Telecommunications has been moving swiftly and is now leading XJO on a long term basis.



This shifts probability towards banks taking out the prior lows but of course things can change.

So what is a good strategy now?

1. Accumulate partial position near where we have a potential end of wave 2 (around green support levels from previous post - we are already there). The lows may not hold but of course no one knows for sure yet. It would take a very high volume day/s soon to get them to shoot back up.

2. Wait for index to approach next strong support zone 5,680 - 5,750

XJO (weekly chart)


3. Find the next support for individual banks. Helps to zoom out to a longer term perspective - see monthly charts (1 candle = 1 month) below.

ANZ


CBA


NAB


WBC


No advice

 

sea of red this morning!
Thanks Again Alex - definitely would be sitting on the sidelines before taking more long positions. The potential shake-out has just been teasing for too long now. Just correct already!!

 

@Redwing that is contender for post of the year my friend - spat my coffee everywhere I am laughing so hard!!