I think many people would agree with your comment and more...

I think many people would agree with your comment and more generally that most banks look toppy; having said that they still keep going up! This has created a bit of anomolly in the indices with US indices falling over 4% for last week while in stark contrast in australia the major indices rose overall for the week. Several people have alluded to possible reasons for the behaviour with the end of the month usually resulting in weird trading. I'm bearish on banks and have been for a while although the market is definatly saying otherwise, looks like they are being looked upon as a possible "safe-haven" after recent broker reports that the majors will maintain earnings outlooks.