Reporting season is coming up. According to MQG Banks are expected to be down 30% from previous. Any figure above this will prove very problematic as seen with *wells* in the US who had to trim divvies also. Price will most certainly fall hard. i cant see to much to look forward to with banks, but that said many of the losses and much of the negative news is expected.. ive said from the start im looking 3 years out and still maintain this outlook as a worse case at which time i would like to see divvies reinstated in full and a SP of $25. As a trading range has now been established people who are uncomfortable holding medium to long term should be aware of exit and entry points should they wish to trade instead of holding. I am not recommending either action just a heads up to consider if your adverse to possibly seeing red. I would think most would be used to it by now.. Of course it could all just be a non event, however traditionally banks are of crucial importance in the Australian psyche.
WBC Price at posting:
$17.98 Sentiment: Hold Disclosure: Held
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