nab about to fall, page-28

re: banks going lower Timetraveller, now that a week has gone past since I challenged you on shorting the banks just because NAB was falling, lets have a look at how your shorts went.

WBC closed on the 23/7 at $16-35. Closed 30/7 at $16.85 +50c (up 3.0%)

ANZ closed on the 23/7 at $17-72 Closed 30/7 at $18.06 +36c (up 2.0%)

CBA closed on the 23/7 at $30.85 Closed 30/7 at $31.22 +37c (up 1.19%)

NAB closed on the 23/7 at $26.87 Closed 30/7 at $26.67 -20c (down 0.74%)

SGB closed on the 23/7 at $21.08 Closed 30/7 at $21.25 +17c (up 0.8%)

BEN closed on the 23/7 at $9.75 Closed 30/7 at $9.76 +1c (even)

SUN closed on the 23/7 at $13.65 Closed 30/7 at $13.90 +25c (up 1.8%)

MBL closed on the 23/7 at $31.94 Closed 30/7 at $33.02 + $1.08 (up 3.38%)

ADB closed on the 23/7 at $8.31 Closed 30/7 at $ 8.58 +27c (up 3.2%)

Subject re: banks going lower
Posted 23/07/04 14:56 - 103 reads
Posted by Timetraveller
Post #326797 - in reply to msg. #326789 - splitview

because I think the other banks are overvalued, and looking weak on the chart, I am going to short them all, especially CBA,NAB,BEN, I am not going over this all again.

re: banks going lower
Posted 23/07/04 15:12 - 104 reads
Posted by Timetraveller
Post #326822 - in reply to msg. #326818 - splitview

I dont care if you or anybody buys the banks, your choice, but I will be shorting the banks, that is my choice.


Now if you had jumped in and shorted the banks last week as you claimed in these posts of yours - you would be in a fair amount of discomfort right about now.
The only bank to fall over the week was NAB (0.74%).
If you were using margin loans to short any one of the banks you possibly would have received a margin call.
If you used ETO’s then you would have suffered heavy losses.
Timing is everything as I tried to point out, the banks could again fall soon, but you will have inflicted a lot of pain on your bank balance if you actively shorted the banks last week. I tried to correct you on the fact that many of the banks had already fallen along with NAB and were at support areas. But you did not listen.
Hope you didn’t influence people into a bad decision.

Commy