Shorting can be hazardous, it a form of gambling and not investing. After all no one knows the future, and particularly the markets which can be irrational at times. Any body shorting now would have to have their head read. Its obvious, the SP has nearly halved, so there is more propensity now to increase, rather than decrease to any large extent.
One thing I am counting on, the big banks have a relative monopoly, no matter what happens, without collusion of course, they will survive and maintain margins and income, even if the RBA may try to force their hand. Not only that I wouldnt like to be a bank making announcements of how well they are doing and showing profits at a time like this, they would be pillorued by the media, their customers, and the government. The big banks control their future and will make up these losses as soon as it looks like its fashionable to do so.
WBC Price at posting:
$16.03 Sentiment: Hold Disclosure: Held
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