I simply post comments to make other posters aware of the danger of holding on to CBA shares when they are totally overbought.
There is far more potential downside than upside. By selling some CBA you at least take advantage of the high price & it gives you the opportunity of buying back in again when the market falls.
I knew a fellow who bought Poseidon shares @ $4.25, held them all the way up to $285 & all the way back to zero. He could not afford to sell because of tax implications. I also bought Babcock & Brown shares on the float for $5. I held them all the way to $38, which I had calculated by length of waves & was too busy & forgot about them & held them back to zero.
If you are worried about tax, consider offsetting shares that are showing a capital loss against CBA & you will minimise your tax.
CBA Price at posting:
$158.46 Sentiment: Sell Disclosure: Held
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