the banks in Oz have minimal to nil direct exposure to Sub prime and CDO's. The flow of liquidity and recent interest rate changes is about the sum of the impact. Given this I am of the opinion that the banks are a screeeeeeming buy at the moment. Based on this beleif I ahve topped up today on SUN. I know this is naughty as I am buying a falling knife but really, sit back and think about it. I really dont think the correction has much more in it and I also beleive folks will wake up to how well the Oz banks are really doing. Nuf said. Also SUN has tremndous support at just under $19.00. It will take a heck of a lot of selling to puch SUN much further down.
SUN Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
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