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$115.00 commonwealth bank of australia.

Is shorting this a no brainer?, page-3

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RickM

2,725 Posts.

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28/08/17

16:28

Post #: 26811918
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Originally posted by MichaelSA ↑

I have heard news reports lately that indicate CBA have let through approximately 57,000 transactions of more than $10,000 and it is law that every single transaction above $10,000 needs to be reported to a government agency or department? Apparently every single incident can attract a fine of $18 million which potentially could result in a total fine of approximately $1 trillion dollars?

$1 trillion dollars is approximately 10 times the value of the bank, or approximately double the total national government debt. On top of this CBA shareholders have now launched a class action.

To my way of thinking news cannot get much worse. I would have thought Blind Freddy would be wanting to short CBA stock on the back of all of this? I have never shorted a stock in my life but I am keen to learn. How do I short CBA stock and/or do people think it is a good idea to do so?

Cheers.

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Use CFD,s but you should have taken the trade last week when it bounced over $79. I have a short position to protect my large holdings. I'm still not sure it will drop too much, I expect CBA will come out ok in the long run. You will find there is quite a cost to short a stock this way and its not as easy as you may think.

Last edited by RickM: 28/08/17

CBA Price at posting: $76.68 Sentiment: Sell Disclosure: Held
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(20min delay)
Last $115.00		Change 0.420(0.37%)		Mkt cap ! $192.4B

Open	High	Low	Value	Volume
$115.50	$115.85	$115.00	$184.6M	1.600M

Buyers (Bids)

No.	Vol.	Price($)
1	808	$114.78

Sellers (Offers)

Price($)	Vol.	No.
$115.25	255	1

View Market Depth

No.	Vol.	Price($)
1	808	114.780
1	5	114.630
2	21	114.600
1	17	114.590
3	187	114.580

Price($)	Vol.	No.
115.250	255	1
115.400	88	1
115.420	350	1
115.450	176	1
115.500	144	2

Last trade - 16.10pm 25/04/2024 (20 minute delay)


Last $115.00			Change 0.420 ( 0.54 %)
Open	High		Low	Volume
$115.15	$115.83		$115.00	151253
Last updated 16.10pm 25/04/2024 ?

CBA (ASX) Chart