In this tight-as-a-you-know-what market that doesn't really give 2 hoots about resources (especially speccies), and while everyone is looking to regain their losses on the financials by getting in on a short up-bounce on the banks, then I reckon you'd want to get your figures and facts DEAD RIGHT if you want this market to take note and jump in behind you..... jump behind CFR that is -
and just as a passing observation for how serious it is to get it right - the temptation to buy bank into financials is driven by the knowledge that the last time the financials bounced, on the rescue of Bear Stearns on March 17th the NAB jumped 20% in 12 days, Macquarie 31%, Babcock & Brown 24.5%, St George 24.85%, Suncorp-Metway, AMP and QBE jumped 23%, Commonwealth Bank 21.6%, AXA 20.7%, and that’s before we get to Allco Finance Group up 80%, Centro Property Group up 77% and a lot of the property trusts up over 30%.
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