Ann: Westpac amends Buy-Back terms and extends timetable, page-111

Little Santa rally Shorts will start to feel the heat now. The early birds would be fine and got their profit. The late shorts are feeling the heat. Soon, 21.50 will form new support and selling back to Westpac might be on the card after all (for those who have bought replacement shares). If it is normal we should see a quick pop to the upside and then a slow climb from there. We just wait. The next dividend payment will be just around the corner. Franking credit for the recent dividend will come back. Bank plays are slow and steady for the patient investors.

Merry Christmas everyone.