CBA TA update, page-3422

"If u have decided to sell, it may be better to delay the sale until after 30/6, so that CGT can also be delayed for another year, unless u have a loss offset - not advice, just a thought. GLTAH"

Oooo now there’s a dangerous thought.

With CBA trading at eye watering levels, even the most rusted on and optimistic of CBA shareholders can see it's more than a bit toppy. For reasons you've articulated there may just be an army of investors big and small waiting for the calendar to tick over into the new financial year to finally make their move.

This could precipitate the end of the bull run on CBA.

It’s interesting to look at the two biggest stocks on the ASX (CBA and BHP) and their relative fortunes. Things have never looked more wrong. I doubt there’s ever been a point in time if you go back through history all the way back to the CBA float where there’s been such a disparity between the two companies PE's.

PE’s at close of trade yesterday :

CBA 32.66
BHP 10.47

BHP at a low point in the resource's cycle ......CBA at mystical levels outside of any recognisable cycle for a big mature bank - ever.

Overnight BHP traded strongly higher in the US on account of surging copper prices.

Today could well be Day 1 of where BHP is the better place to be on the ASX as investors start to rotate.

I wouldn’t be waiting for July 1.

Disclosure : BHP holder, Former CBA holder…..so I am a little bit biased.