Flem, my plan for CBA is the same as I used for ANZ earlier this year, which worked out quite well for me. The plan obviously depends on what else happening at the time globally, but the plan is to short CBA with a loose stop around 12-Aug, which is a week before the ex-div date of 19-Aug, then hold through the ex-div date because typically the CBA sp falls more on the ex-div date than the dividend that I will have to pay as a short holder. Subsequently, assuming the CBA sp follows past history, the CBA sp will continue to decline in the weeks after going ex-div. After the ex-div date I will tighten the stop to protect profit. In addition, as always I will set an ambitious profit taker stop to capture a sharp spike down if it occurs, as such a momentary spike can often happen with all stocks.
As mentioned earlier, I was away during the school holidays (camping out of mobile phone range), and I have been down in Albany for a few days. However, recently I have been pondering on a new strategy to attack the inevitable correction. If I get time tonight I will post a few ideas and seek comments from you all.
